Merck KGaA, Darmstadt, Germany and Artios Pharma Announce a Global Strategic Collaboration on Novel DNA Damage Response Targets in Oncology

M Ventures

Merck KGaA, Darmstadt, Germany and Artios will conduct collaborative research and Merck KGaA, Darmstadt, Germany shall have the right to opt into exclusive development and commercialization of compounds on up to 8 targets

Artios to receive US$30 million in up-front and near-term payments, plus double-digit option fees and up to US$860 million total milestones per target

Collaboration to leverage significant expertise and R&D resources of Merck KGaA, Darmstadt, Germany in the field of DNA Damage Response to identify and develop precision oncology medicines targeting nucleases

Darmstadt, Germany, Cambridge, UK and New York, USA, 3rd December 2020: Merck KGaA, Darmstadt, Germany, a leading science and technology company and Artios Pharma Limited (Artios), a leading DNA Damage Response (DDR) company developing a broad pipeline of precision medicines for the treatment of cancer, today announced a global three year strategic research collaboration to discover and develop multiple precision oncology drugs.

“Our platform has the potential to revolutionize targeted treatment in cancer and deliver on the promise of precision medicine. This collaboration will leverage the potential of our unique discovery platform of novel DNA repair nuclease inhibitors and targets that we have been developing. The partnership puts us in an exceptional position to focus internal efforts on our leading portfolio of assets which includes a small-molecule ATR inhibitor and a Polθ programme, both in candidate IND evaluation,” said Niall Martin, Chief Executive Officer at Artios Pharma.

“Targeting DNA damage response has the potential to provide an important therapeutic option for many patients in need of new treatments. We are excited about working with Artios to develop novel precision oncology medicines as we move towards changing the current paradigm in cancer treatment. This collaboration further strengthens our leadership and expertise in the field and discovery of DDR inhibitors and complements our multiple innovative assets currently being evaluated in several Phase I and Phase II clinical studies,” said Andree Blaukat, SVP and Head Translational Innovation Platform Oncology & Immuno-Oncology, at Merck KGaA, Darmstadt, Germany.

Under the terms of the agreement, the companies will leverage Artios’s proprietary nuclease targeting discovery platform to jointly identify multiple synthetic lethal targets for precision oncology drug candidates. During this joint research collaboration, Merck KGaA, Darmstadt, Germany will contribute its significant expertise and resources in the field of DDR and will have exclusive worldwide rights to develop and commercialize selected therapeutics discovered under the collaboration. The collaboration does not include Artios’s lead programmes, Polθ and ATR inhibitors, for which Artios will retain all rights.

Nucleases are critical enzymes involved in the maintenance of genomic integrity. Cancer cells are dependent on nucleases for their survival in response to DNA damage. Also, in certain cancers which exhibit mutations in DNA damage response pathways, inhibiting key nucleases can lead to selective cancer cell killing i.e. synthetic lethality.

As part of the agreement, Artios will receive a payment of US$30 million in the form of an up-front and near-term payments. If Merck KGaA, Darmstadt, Germany chooses to exercise the option, subject to double-digit option fees, Artios will be eligible to receive up to US$860 million per target, in addition to up to double digit royalty payments on net sales of each product commercialized by Merck KGaA, Darmstadt, Germany.

Subject to certain conditions, Artios has opt-in rights for joint development and commercialization with Merck KGaA, Darmstadt, Germany for the programmes.

For more information, please contact:

Artios Pharma Ltd.
Niall Martin, Chief Executive Officer
+44 01223 867 867

Media & IR Enquiries
Optimum Strategic Communications
Mary Clark/ Eva Haas/ Manel Mateus
artios@optimumcomms.com
+44 020 3922 1906

Merck KGaA, Darmstadt, Germany
Gangolf Schrimpf, Media Relations
gangolf.schrimpf@merckgroup.com
+49 6151 72-9591

** Notes to Editors

About Artios Pharma Ltd.**

Artios is a leading DNA Damage Response (DDR) company focused on developing first-in-class treatments for cancer. The Company, founded by SV Health Investors in 2016, is led by an experienced scientific and leadership team with proven expertise in DDR drug discovery. It has a unique partnership with Cancer Research UK (CRUK), and collaborations with leading DNA repair researchers worldwide, such as The Institute of Cancer Research (ICR), London, the Netherlands Cancer Institute (NKI) and the National Centre for Biomolecular Research at Masaryk University in the Czech Republic, with their expertise in DNA repair nucleases. Artios is building a pipeline of next-generation DDR programmes to target hard to treat cancers. It is backed by blue chip investors including: AbbVie Ventures, Andera Partners (formerly EdRIP), Arix Bioscience plc, IP Group plc, LSP, M Ventures, Novartis Venture Fund (NVF), Pfizer Ventures and SV Health Investors. Artios is based at the Babraham Research Campus in Cambridge, UK, with offices in New York City, USA.www.artiospharma.com

About Merck KGaA, Darmstadt, Germany

Merck KGaA, Darmstadt, Germany, a leading science and technology company, operates across healthcare, life science and performance materials. Around 57,000 employees work to make a positive difference to millions of people’s lives every day by creating more joyful and sustainable ways to live. From advancing gene editing technologies and discovering unique ways to treat the most challenging diseases to enabling the intelligence of devices – the company is everywhere. In 2019, Merck KGaA, Darmstadt, Germany generated sales of € 16.2 billion in 66 countries.

Scientific exploration and responsible entrepreneurship have been key to Merck KGaA, Darmstadt, Germany’s technological and scientific advances. This is how Merck KGaA, Darmstadt, Germany has thrived since its founding in 1668. The founding family remains the majority owner of the publicly listed company. Merck KGaA, Darmstadt, Germany holds the global rights to the Merck KGaA, Darmstadt, Germany name and brand. The only exceptions are the United States and Canada, where the business sectors of Merck KGaA, Darmstadt, Germany operate as EMD Serono in healthcare, MilliporeSigma in life science, and EMD Performance Materials.

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HENT signs SEK 470m agreement with LKAB for production of residential blocks in Kiruna’s new city centre

Ratos

The construction company HENT, which is 73% owned by Ratos AB, has signed an agreement valued at SEK 470m with the LKAB mining group. The agreement pertains to a turnkey project including the design, engineering and production of two new residential blocks in Kiruna’s new city centre.

 

The project will be carried out in a total of four phases, with three separate buildings on each property. The buildings will be five storeys tall and come in two designs. With entrances from their inner courtyards, the buildings will also be equipped with lifts, stairwells and balconies. Each block will also feature parking spaces, playgrounds and areas for socialising.

 

Carrying out new production projects north of the Arctic Circle is challenging due to the Arctic climate and long transport distances from other areas of Sweden. HENT has gained extensive experience of construction in the region through its involvement in the ongoing Kunskapsstaden project, in which the company is building a 40,000 square metre school. This project is also being carried out in Kiruna’s new city centre and HENT is building the school on behalf of Kiruna Municipality.

 

“HENT has gained extensive partnering expertise over a number of years, particularly from government and municipal projects. With this project, we have once again been commissioned to build a particularly high-profile project in Sweden. As the company’s owner, we are very pleased,” says Christian Johansson Gebauer, Chairman of the Board of HENT and President, Business Area Construction and Services, Ratos AB.

 

The planned apartments will have a modern design featuring energy-efficient solutions. The properties will also be equipped with charging points for electric vehicles. The blocks will be designed to provide tenants with a safe environment. The buildings will feature wooden panel facades.

 

“I am proud that HENT has once again been asked to take part in the relocation of Kiruna’s city centre. Moreover, partnering with a major player such as LKAB is an important step for HENT. We also look forward to continuing our partnership with the local business community as we execute this project,” says Jan Krepp, CEO of HENT Sweden.

 

For further information:

 

Christian Johansson Gebauer, Chairman of the Board of HENT and President, Business Area Construction and Services, Ratos AB, +46 8 700 17 00
Jan Krepp, CEO, HENT Sweden, +46 70 146 32 47

 

About Ratos:
Ratos is a business group consisting of 12 companies divided into three business areas: Construction & Services, Consumer and Industry. In total 2020, the companies have approximately SEK 34 billion in sales. Our business concept is to develop companies headquartered in the Nordics that are or can become market leaders. We enable independent companies to excel by being part of something larger. People, leadership, culture and values are key focus areas for Ratos. Everything we do is based on Ratos’s core values: Simplicity, Speed in Execution and It’s All About People.

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Nordic Capital agrees to sell Veonet to Ontario Teachers’ and PAI Partners

Nordic Capital

Nordic Capital agrees to sell Veonet to Ontario Teachers’ and PAI Partners Image

Nordic Capital agrees to sell Veonet to Ontario Teachers’ and PAI Partners

December 03 2021
Nordic Capital agrees to sell Veonet to Ontario Teachers’ and PAI Partners Image

 

Ontario Teachers’ Pension Plan Board (Ontario Teachers’) and PAI Partners have agreed to acquire Veonet, a leading pan-European network of ophthalmological clinics, from Nordic Capital IX. The financial terms of the transaction were not disclosed. The acquisition is subject to customary regulatory approval.

Veonet is headquartered in Munich, Germany, and operates more than 190 ophthalmological clinics across Germany, the UK, the Netherlands and Switzerland. It treats more than 1.2 million patients every year, cooperating with all health insurance companies and supporting national healthcare service delivery. Veonet is dedicated to ensuring that every patient enjoys a lifetime of healthy vision, contributing to their overall health and wellbeing.

Veonet built a strong foundation with Nordic Capital and looks forward to continuing its journey and creating even better outcomes for its patients and even more opportunities for its employees.

 

 

Nordic Capital
Katarina Janerud, Communications Manager
Nordic Capital Advisors
Tel: +46 8 440 50 50
e-mail: katarina.janerud@nordiccapital.com

 

About Nordic Capital

Nordic Capital is a leading private equity investor with a resolute commitment to creating stronger, sustainable businesses through operational improvement and transformative growth. Nordic Capital focuses on selected regions and sectors where it has deep experience and a long history. Focus sectors are Healthcare, Technology & Payments, Financial Services, and selectively, Industrial & Business Services. Key regions are Europe and globally for Healthcare and Technology & Payments investments. Since inception in 1989, Nordic Capital has invested more than EUR 19 billion in over 120 investments. The most recent entities are Nordic Capital X with EUR 6.1 billion in committed capital and Nordic Capital Evolution with EUR 1.2 billion in committed capital, principally provided by international institutional investors such as pension funds. Nordic Capital Advisors have local offices in Sweden, the UK, the US, Germany, Denmark, Finland, Norway and South Korea. For further information about Nordic Capital, please visit www.nordiccapital.com

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Merck KGaA, Darmstadt, Germany and Artios Pharma Announce a Global Strategic Collaboration on Novel DNA Damage Response Targets in Oncology

M Ventures

Merck KGaA, Darmstadt, Germany and Artios will conduct collaborative research and Merck KGaA, Darmstadt, Germany shall have the right to opt into exclusive development and commercialization of compounds on up to 8 targets

Artios to receive US$30 million in up-front and near-term payments, plus double-digit option fees and up to US$860 million total milestones per target

Collaboration to leverage significant expertise and R&D resources of Merck KGaA, Darmstadt, Germany in the field of DNA Damage Response to identify and develop precision oncology medicines targeting nucleases

Darmstadt, Germany, Cambridge, UK and New York, USA, 3rd December 2020: Merck KGaA, Darmstadt, Germany, a leading science and technology company and Artios Pharma Limited (Artios), a leading DNA Damage Response (DDR) company developing a broad pipeline of precision medicines for the treatment of cancer, today announced a global three year strategic research collaboration to discover and develop multiple precision oncology drugs.

“Our platform has the potential to revolutionize targeted treatment in cancer and deliver on the promise of precision medicine. This collaboration will leverage the potential of our unique discovery platform of novel DNA repair nuclease inhibitors and targets that we have been developing. The partnership puts us in an exceptional position to focus internal efforts on our leading portfolio of assets which includes a small-molecule ATR inhibitor and a Polθ programme, both in candidate IND evaluation,” said Niall Martin, Chief Executive Officer at Artios Pharma.

“Targeting DNA damage response has the potential to provide an important therapeutic option for many patients in need of new treatments. We are excited about working with Artios to develop novel precision oncology medicines as we move towards changing the current paradigm in cancer treatment. This collaboration further strengthens our leadership and expertise in the field and discovery of DDR inhibitors and complements our multiple innovative assets currently being evaluated in several Phase I and Phase II clinical studies,” said Andree Blaukat, SVP and Head Translational Innovation Platform Oncology & Immuno-Oncology, at Merck KGaA, Darmstadt, Germany.

Under the terms of the agreement, the companies will leverage Artios’s proprietary nuclease targeting discovery platform to jointly identify multiple synthetic lethal targets for precision oncology drug candidates. During this joint research collaboration, Merck KGaA, Darmstadt, Germany will contribute its significant expertise and resources in the field of DDR and will have exclusive worldwide rights to develop and commercialize selected therapeutics discovered under the collaboration. The collaboration does not include Artios’s lead programmes, Polθ and ATR inhibitors, for which Artios will retain all rights.

Nucleases are critical enzymes involved in the maintenance of genomic integrity. Cancer cells are dependent on nucleases for their survival in response to DNA damage. Also, in certain cancers which exhibit mutations in DNA damage response pathways, inhibiting key nucleases can lead to selective cancer cell killing i.e. synthetic lethality.

As part of the agreement, Artios will receive a payment of US$30 million in the form of an up-front and near-term payments. If Merck KGaA, Darmstadt, Germany chooses to exercise the option, subject to double-digit option fees, Artios will be eligible to receive up to US$860 million per target, in addition to up to double digit royalty payments on net sales of each product commercialized by Merck KGaA, Darmstadt, Germany.

Subject to certain conditions, Artios has opt-in rights for joint development and commercialization with Merck KGaA, Darmstadt, Germany for the programmes.

For more information, please contact:

Artios Pharma Ltd.
Niall Martin, Chief Executive Officer
+44 01223 867 867

Media & IR Enquiries
Optimum Strategic Communications
Mary Clark/ Eva Haas/ Manel Mateus
artios@optimumcomms.com
+44 020 3922 1906

Merck KGaA, Darmstadt, Germany
Gangolf Schrimpf, Media Relations
gangolf.schrimpf@merckgroup.com
+49 6151 72-9591

** Notes to Editors

About Artios Pharma Ltd.**

Artios is a leading DNA Damage Response (DDR) company focused on developing first-in-class treatments for cancer. The Company, founded by SV Health Investors in 2016, is led by an experienced scientific and leadership team with proven expertise in DDR drug discovery. It has a unique partnership with Cancer Research UK (CRUK), and collaborations with leading DNA repair researchers worldwide, such as The Institute of Cancer Research (ICR), London, the Netherlands Cancer Institute (NKI) and the National Centre for Biomolecular Research at Masaryk University in the Czech Republic, with their expertise in DNA repair nucleases. Artios is building a pipeline of next-generation DDR programmes to target hard to treat cancers. It is backed by blue chip investors including: AbbVie Ventures, Andera Partners (formerly EdRIP), Arix Bioscience plc, IP Group plc, LSP, M Ventures, Novartis Venture Fund (NVF), Pfizer Ventures and SV Health Investors. Artios is based at the Babraham Research Campus in Cambridge, UK, with offices in New York City, USA.www.artiospharma.com

About Merck KGaA, Darmstadt, Germany

Merck KGaA, Darmstadt, Germany, a leading science and technology company, operates across healthcare, life science and performance materials. Around 57,000 employees work to make a positive difference to millions of people’s lives every day by creating more joyful and sustainable ways to live. From advancing gene editing technologies and discovering unique ways to treat the most challenging diseases to enabling the intelligence of devices – the company is everywhere. In 2019, Merck KGaA, Darmstadt, Germany generated sales of € 16.2 billion in 66 countries.

Scientific exploration and responsible entrepreneurship have been key to Merck KGaA, Darmstadt, Germany’s technological and scientific advances. This is how Merck KGaA, Darmstadt, Germany has thrived since its founding in 1668. The founding family remains the majority owner of the publicly listed company. Merck KGaA, Darmstadt, Germany holds the global rights to the Merck KGaA, Darmstadt, Germany name and brand. The only exceptions are the United States and Canada, where the business sectors of Merck KGaA, Darmstadt, Germany operate as EMD Serono in healthcare, MilliporeSigma in life science, and EMD Performance Materials.

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Funds advised by Apax sell Unilabs to A.P. Moller Holding

Apax

Funds advised by Apax Partners LLP (the “Apax Funds”) announced today that they have agreed to sell their controlling stake in Unilabs (the “Company”), a leading pan-European provider of laboratory and imaging diagnostics services, to A.P. Moller Holding, the parent company of the Danish A.P. Moller Group founded and run by the Maersk family. Financial details of the transaction were not disclosed.

Drawing on Apax’s deep knowledge of the healthcare sector, the Apax team identified Unilabs as an attractive company operating in a highly fragmented market with significant expertise in best practice lab and imaging operations. The Apax Funds first invested in a minority stake in Unilabs in 2007, taking the Company private from the Swiss Stock Exchange and subsequently merging it with Capio Diagnostics, a Nordic laboratory and imaging business.

In 2017, the Apax Funds gained majority control of the Company, acquiring the outstanding shareholding in Unilabs. The Apax Funds subsequently proceeded to invest in people, technology, and M&A and, under the Apax Funds’ ownership, Unilabs accelerated its organic growth to become a European leader in digital imaging and digital pathology diagnostics. During this period, Unilabs also completed over 50 add-on acquisitions, helping enhance the Company’s product offering and expand its geographical footprint.

Today Unilabs is the only European player covering the full spectrum of diagnostics across laboratory, imaging and pathology services at scale. Headquartered in Switzerland, Unilabs now employs over 12,000 people across 15 countries.

Steven Dyson, Partner at Apax, said: “Unilabs is an excellent example of the Apax Funds’ transformative ownership approach, focusing on healthcare fundamentals and partnering with exceptional management teams. It has been great to work with Jos, Michiel and the whole Unilabs team over the past few years. The Company has undergone significant transformation which includes accelerating organic growth, expanding into new markets through strategic acquisitions and leading the digitalisation of healthcare, to become a leading provider of diagnostics services in Europe.”

Arthur Brothag, Partner at Apax, added: “We are proud to have helped Unilabs build and scale the business and we would like to thank Jos, Michiel, and the team and wish them every success for the future in this new exciting chapter with their new partner.”

Michiel Boehmer, Chief Executive Officer of Unilabs, said “Unilabs has truly scaled its operations in the last few years and Apax has been an outstanding partner for me and the management team. Their combined experience in healthcare and technology has not only helped us enhance our existing offering and geographic reach, but also allowed us to become a pioneer in digital diagnostics and in the adoption of artificial intelligence in telemedicine. As we embark on our next chapter, I want to thank both the Apax and the Unilabs team for all their hard work and dedication over the last few years.”

Jos Lamers, Chairman of Unilabs, added: “I would like to thank Apax, who have been part of Unilabs’ journey since 2007. Apax supported our strategy, helped us grow into the international diagnostics champion we are today, and set us up perfectly for the next chapter. Also, I’d like to share my appreciation and admiration to all the Unilabs colleagues, for their tireless efforts to support our customers and patients every day.”

The Apax Funds have a strong track record of investing in the Healthcare sector, having completed more than 80 investments over the last 30 years across multiple geographies, including the US, Europe and Asia. Current and recent investments include Eating Recovery Center, a US provider of eating disorder and mood and anxiety treatments, Rodenstock, a European provider of premium, highly individualised ophthalmic lenses, InnovAge, a US provider of senior care services, the medical device companies Candela and Vyaire, as well as the specialty pharma company Neuraxpharm.

Apax was advised by Rothschild&Co (M&A adviser), and Linklaters (legal advisers). The transaction is expected to close in the next few months, subject to customary closing conditions and regulatory approvals.

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IK Partners acquires DA Languages from Foresight

IK Partners

IK Partners (“IK”) is pleased to announce that the IK Small Cap III Fund has acquired DA Languages Ltd. (“DAL” or “the Company”) from Foresight Group (“Foresight”). Financial terms of the transaction are not disclosed.

Founded in 1998 and headquartered in Manchester, DAL is one of the fastest growing language services providers in the UK, providing critical services to organisations communicating with non-English speakers. With a network of over 8000 mother tongue interpreters and translators, DAL’s offering spans face-to-face, video and telephone interpretation along with written translation services. Over 450 languages and dialects are provided, including sign language, enabling better outcomes for all stakeholders. Promoting inclusivity and equality is at the heart of DAL’s operations, ensuring that language barriers are removed in critical situations, particularly in healthcare and legal settings.

IK is acquiring the Company from Foresight, a leading listed infrastructure and private equity investment manager, which invested into DAL from its Regional Investment Fund in May 2018. During Foresight’s ownership, DAL has strengthened its management team, substantially grown its employee base and developed a highly diverse client base of NHS trusts, charities, city councils, and corporates, building a strong reputation for quality provision. The business has also invested significantly in technology and IT infrastructure to support its clients, including the acquisition of Miton Systems, an interpreting technology specialist, enabling DAL to offer its own proprietary video and telephone remote interpreting products.

The incumbent management team, led by Managing Director Matthew Taylor, as well as the founder, Actar Arya, will be reinvesting in the business. IK will work alongside the team to continue scaling DAL both organically and through add-on acquisitions, with a particular focus on investing further in DAL’s differentiated technology offering to broaden the client base across the public and private sectors and expand its range of services.

Tom Salmon, Partner at IK Partners and Advisor to the Small Cap III Fund, commented: “DAL is an excellent business operating in a market underpinned by attractive, long-term growth prospects. We have been very impressed with the achievements of Matthew and the rest of the team in broadening the business’ framework coverage and client base and further developing DAL’s proprietary technology offering. With our strong track record in supporting European technology-enabled services businesses to scale rapidly, we are delighted to be partnering with the management team on the next phase of the business’ journey.”

Matthew Taylor, Managing Director of DA Languages, commented: “We would like to thank the team at Foresight for their support over the past three and a half years; during which time we have grown our offering considerably to meet the critical needs of a broader range of customers. We are excited to partner with IK and benefit from their expertise and experience to further enhance our quality service and technology proposition.”

Claire Alvarez, Partner at Foresight, commented: “It has been such a positive experience working with Matt, Actar and the wider team at DAL, helping them expand their services to support vulnerable people. We are delighted that we have been able to support the Company’s rapid growth, creating so many new jobs whilst making such a worthwhile impact. We wish the team every success for the future.”

For further questions, please contact:
IK Partners
Vidya Verlkumar
Phone: +44 (0) 7787 558 193
vidya.verlkumar@ikpartners.com

Foresight Group
Influential
Chris Barry
Phone: +44 (0)7733 103 693
barry@thisisinfluential.com

About IK Partners

IK Partners (“IK”) is a European private equity firm focused on investments in the Benelux, DACH, France, Nordics and the UK. Since 1989, IK has raised more than €14 billion of capital and invested in over 155 European companies. IK supports companies with strong underlying potential, partnering with management teams and investors to create robust, well-positioned businesses with excellent long-term prospects. For more information, visit www.ikpartners.com

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About DA Languages

D.A Languages Ltd. is a Manchester based language services provider delivering face-to-face, video and telephone interpreting, and written translation services to corporate clients, charities, NHS trusts and city councils. Founded in 1998, D.A. Languages has established an extensive database of 8,000 Mother Tongue Interpreters and Translators offering over 450 languages, making it one of the major language services providers in the UK. For more information, visit www.dalanguages.co.uk

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About Foresight Group

Foresight Group was founded in 1984 and is a leading listed infrastructure and private equity investment manager. With a long-established focus on ESG and sustainability-led strategies, it aims to provide attractive returns to its institutional and private investors from hard-to-access private markets. Foresight manages over 300 infrastructure assets with a focus on solar and onshore wind assets, bioenergy and waste, as well as renewable energy enabling projects, energy efficiency management solutions, social and core infrastructure projects and sustainable forestry assets. Its private equity team manages eight regionally focused investment funds across the UK, supporting over 120 SMEs. Its Foresight Capital Management team manages four funds investing in listed real assets with environmental and social benefits, exceeding £1.3 billion Assets Under Management (AUM). Foresight operates from 12 offices across six countries in Europe and Australia with AUM of £8.1 billion as of 30 September 2021. Foresight Group Holdings Limited listed on the Main Market of the London Stock Exchange in February 2021. For more information, visit https://www.fsg-investors.com/

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Specialist for medical polymer materials DETAX resolves ownership succession in the course of a management buy-out

Ecm
  • DETAX is a leading global supplier of biocompatible silicones and light-curing 3D resins for medical applications in the dental and audio sector.
  • As an innovative specialist in polymer materials, DETAX offers its customers a high-quality and extensively MDR-certified product portfolio and positions itself as a pioneer in the dynamic environment of 3D printing materials.
  • The company considers itself as a partner to a broad and loyal customer base, thereby enjoying an excellent reputation thanks to its consistently high product and service quality.
  • The Investor Consortium of ECM, PINOVA and Gilde Healthcare Private Equity supports DETAX and the management team in settling the ownership succession through a management buy-out. Together, the partners want to build on and further expand DETAX’s successful growth track.

An Investor Consortium consisting of funds managed by ECM Equity Capital Management GmbH (“ECM”), PINOVA Capital GmbH (“PINOVA”) and Gilde Healthcare (“Gilde Healthcare Private Equity”) (together the “Investor Consortium”) has acquired a majority stake in DETAX Group, the leading supplier of polymer materials for medical applications, in the context of a management buy-out. The two long-term managing directors, Mrs. Ursula Juretzki-Mangold and Mr. Ralf König, have invested alongside the Investor Consortium as part of the transaction. After more than 65 years of ownership, the transition from the owner family Regneri to the new owners has been completed. Together with the Investor Consortium, the management team will continue the successful development and will lead DETAX into the next growth phase. The transaction is subject to merger control approvals and financial details are not disclosed.

Specialist for medical materials

DETAX, based in Ettlingen, Germany, was founded in 1953 and today employs approx. 110 people. As a specialist in polymer materials, the group offers its customers a comprehensive product portfolio of dental and otoplastic consumables. The group serves an international, broadly diversified and loyal customer base. End users of the products include dental practices, dental laboratories as well as audiologists and audio laboratories. The group operates in a non-cyclical, highly regulated market environment. Complying with such regulation, DETAX holds all relevant MDR certificates. This makes DETAX one of the first companies in the industry with an extensive MDR-certified product portfolio.

Potential for internationalization, digitization, and innovations in a growing market environment

The company’s attractive end markets are continuously growing, driven by sustainable trends such as socio demographics, digitization and increasing regulatory requirements. Particularly 3D printing materials, an area in which DETAX is a pioneer with an excellent market standing, are experiencing a dynamic development. The Investor Consortium and the management team aim to further promote growth with targeted investments in DETAX’s headquarters in Ettlingen. Due to its long-standing, strong market positioning and high innovative strength, DETAX is in an excellent position to leverage such growth. Particularly strong growth potential stems from further internationalization, new customer acquisitions as well as active market consolidation. The Investor Consortium will contribute with its extensive and complementary experience in accompanying growth and internationalization as well as executing buy-and-build strategies.

Following the transaction, Peter Regneri, long-time shareholder and managing director, emphasizes the importance of handing over DETAX to an experienced consortium of mid-market investors with an international positioning, that is equipped to secure and continue the successful development of the company.

Ursula Juretzki-Mangold and Ralf König, managing directors and future shareholders say: “We are proud of what the entire DETAX team has achieved in recent years. Together, we were able to accomplish dynamic growth, particularly through internationalization and new product innovations. With the Investor Consortium, we have found strong partners who support us with many years of experience and international know-how in the healthcare and medical technology markets. Together with our partners, we plan to invest in further product innovations and digitization as well as the further strengthening of our headquarters in Ettlingen.”

Tim Krume, Director at ECM, adds: “DETAX is an exceptionally attractive company. We are excited about the highly professional organization, led by a high-calibre, experienced and motivated management team, the strong market positioning as well as the excellent reputation of the group as a leading specialist for medical materials. We are extremely pleased to accompany DETAX’s successful growth trajectory in partnership with the management team.”

Herbert Seggewiß, Partner at PINOVA, further adds: “We are impressed by the development of the group and the entrepreneurial performance of the management team. We were particularly impressed by the high-quality and extensively MDR-certified product portfolio, the long-standing loyal partnerships with customers and suppliers, and the high level of innovation with a strong track record. We look forward to a successful collaboration with the management team.”

Robert Stein, Partner at Gilde Healthcare Private Equity, notes, “DETAX represents an excellent basis for further organic and inorganic growth. We look forward to adding value in the future with our broad international network as well as our deep industry expertise, especially with respect to buy-and-build.”

The Investor Consortium was advised on the transaction by KWM (legal and structuring), CODEX (market), PwC (finance & tax), Shearman & Sterling (financing documentation), GCA Altium (debt advisor) and Willis Towers Watson (insurance). Responsible for the transaction at ECM are Tim Krume, Axel Eichmeyer and Paul Hansen, at PINOVA Herbert Seggewiß, David Gilli and Aylin Akkay and at Gilde Healthcare Private Equity Robert Stein, Tom Klein Robbenhaar and Julian Primer. DETAX was jointly advised on the transaction by CMS, Crowe BPG and Kanzlei Wangler.

About DETAX Group

DETAX, headquartered in Ettlingen with around 110 employees, is a specialist for medical materials. For more than 65 years, DETAX has been developing silicones and light-curing resins for medical applications and 3D printing. The company is one of the world’s leading specialists in polymer materials with a focus on the dental and audio sectors.

Further information at: www.detax.de

About PINOVA Capital GmbH

PINOVA Capital is an independent private equity firm investing in high-growth technology companies in German-speaking regions. PINOVA Capital focuses on “Mittelstand” companies with sales between €10 million and €75 million in the sectors industrial technology and information technology, characterized by significant growth potential, sustainable competitive advantages and a strong market position in their niche.

Further information at: www.pinovacapital.com

About Gilde Healthcare

Gilde Healthcare is a specialized healthcare investor with two fund strategies: Venture&Growth and Private Equity. The firm is headquartered in Utrecht (The Netherlands) with local offices in Frankfurt (Germany) and Cambridge (United States). Gilde Healthcare Private Equity participates in profitable lower mid-market healthcare companies based in North-Western Europe. The Private Equity fund targets healthcare providers, suppliers of medical products and service providers in the healthcare market. Gilde Healthcare Venture & Growth invests in medtech, healthtech and therapeutics in Europe and North America.

Further information at: www.gildehealthcare.com

About ECM Equity Capital Management GmbH

ECM is a trusted growth partner for mid-sized enterprises and entrepreneurs in German-speaking Europe. Since 1995, ECM has raised the private equity funds GEP I-V with aggregate equity commitments of more than €1 billion and currently invests out of the fifth fund GEP V (€325 million). The funds invest primarily in leading mid-market companies with attractive growth potential in the context of ownership successions, partnership transactions and corporate spin-offs.

Further information at: www.ecm-pe.de

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PhotonFirst successfully closes 11M Series A funding

ActiveCapital

Leading integrated photonics sensing systems supplier for advanced applications in aerospace, automotive, medical, high-tech equipment, energy and infrastructure

Dutch photonics scale-up to execute roadmap to IPO in 2025

PhotonFirst International, a leading pioneer in integrated photonics sensing solutions for advanced applications, announced to have successfully closed its Series A funding. Jointly, their largest shareholder, Amsterdam based private equity firm Active Capital Company, and new investor PhotonDelta have jointly committed 11 million Euro to fund the 5-year business plan of the company. Simultaneously, Board members Ilko Bosman (CFO) and Daan Kersten (CEO) have co-invested and the entire PhotonFirst team will participate through a phantom stock program. The majority of the investment will be used for next generation technology & product development and expansion of the commercial footprint worldwide. The deeptech company plans for an IPO in 2025 as global innovation leader based on its 15-year heritage in integrated photonics.

We are grateful and proud that both Active Capital Company and PhotonDelta have confirmed our ambitious 5-year plan and team-up with us to successfully execute on it“, Daan Kersten, CEO said. “As proven solid partners, we have the backing that will allow us to focus on accelerating our commercial efforts while continuing to build on our technology“, added Ilko Bosman, CFO of PhotonFirst.

“*We believe in the vision and strategy of PhotonFirst and see great potential in scaling the technology. The Board has demonstrated their execution power and is on track to deliver on the plan, we are confident our funding allows them to accelerate and expand.” according to Victor Schols, partner of Active Capital Company. “PhotonFirst is a global frontrunner in integrated photonics sensing solutions. This company represents perfectly what the PhotonDelta ecosystem is all about: inventing, developing and manufacturing world class products that make a difference. We are proud to invest in this team and become part of their success.” concluded Ewit Roos, CEO of PhotonDelta.

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Gilde Healthcare Private Equity as part of Investor Consortium acquires DETAX

GIlde Healthcare
December 3, 2021
Frankfurt am Main, Munich and Ettlingen (Germany)
Specialist for medical polymer materials DETAX resolves ownership succession in the course of a management buy-out and continues its successful growth track together with a strong Investor Consortium

 ·    DETAX is a leading global supplier of biocompatible silicones and light-curing 3D resins for medical applications in the dental and audio sector.
·    As an innovative specialist in polymer materials, DETAX offers its customers a high-quality and extensively MDR-certified product portfolio and positions itself as a pioneer in the dynamic environment of 3D printing materials.
·    The company considers itself as a partner to a broad and loyal customer base, thereby enjoying an excellent reputation thanks to its consistently high product and service quality.
·    The Investor Consortium of ECM, PINOVA and Gilde Healthcare Private Equity supports DETAX and the management team in settling the ownership succession through a management buy-out. Together, the partners want to build on and further expand DETAX’s successful growth track.

An Investor Consortium consisting of funds managed by ECM Equity Capital Management GmbH (“ECM”), PINOVA Capital GmbH (“PINOVA”) and Gilde Healthcare Private Equity (“Gilde Healthcare”) (together the “Investor Consortium”) has acquired a majority stake in DETAX Group, the leading supplier of polymer materials for medical applications, in the context of a management buy-out. The two long-term managing directors, Mrs. Ursula Juretzki-Mangold and Mr. Ralf König, have invested alongside the Investor Consortium as part of the transaction. After more than 65 years of ownership, the transition from the owner family Regneri to the new owners has been completed. Together with the Investor Consortium, the management team will continue the successful development and will lead DETAX into the next growth phase. The transaction is subject to merger control approvals and financial details are not disclosed.

Specialist for medical materials
DETAX, based in Ettlingen, Germany, was founded in 1953 and today employs approx. 110 people. As a specialist in polymer materials, the group offers its customers a comprehensive product portfolio of dental and otoplastic consumables. The group serves an international, broadly diversified and loyal customer base. End users of the products include dental practices, dental laboratories as well as audiologists and audio laboratories. The group operates in a non-cyclical, highly regulated market environment. Complying with such regulation, DETAX holds all relevant MDR certificates. This makes DETAX one of the first companies in the industry with an extensive MDR-certified product portfolio.

Potential for internationalization, digitization, and innovations in a growing market environment
The company’s attractive end markets are continuously growing, driven by sustainable trends such as socio demographics, digitization and increasing regulatory requirements. Particularly 3D printing materials, an area in which DETAX is a pioneer with an excellent market standing, are experiencing a dynamic development. The Investor Consortium and the management team aim to further promote growth with targeted investments in DETAX’s headquarters in Ettlingen. Due to its long-standing, strong market positioning and high innovative strength, DETAX is in an excellent position to leverage such growth. Particularly strong growth potential stems from further internationalization, new customer acquisitions as well as active market consolidation. The Investor Consortium will contribute with its extensive and complementary experience in accompanying growth and internationalization as well as executing buy-and-build strategies.

Following the transaction, Peter Regneri, long-time shareholder and managing director, emphasizes the importance of handing over DETAX to an experienced consortium of mid-market investors with an international positioning, that is equipped to secure and continue the successful development of the company.

Ursula Juretzki-Mangold and Ralf König, managing directors and future shareholders say: “We are proud of what the entire DETAX team has achieved in recent years. Together, we were able to accomplish dynamic growth, particularly through internationalization and new product innovations. With the Investor Consortium, we have found strong partners who support us with many years of experience and international know-how in the healthcare and medical technology markets. Together with our partners, we plan to invest in further product innovations and digitization as well as the further strengthening of our headquarters in Ettlingen.”

Tim Krume, Director at ECM, adds: “DETAX is an exceptionally attractive company. We are excited about the highly professional organization, led by a high-calibre, experienced and motivated management team, the strong market positioning as well as the excellent reputation of the group as a leading specialist for medical materials. We are extremely pleased to accompany DETAX’s successful growth trajectory in partnership with the management team.”

Herbert Seggewiß, Partner at PINOVA, further adds: “We are impressed by the development of the group and the entrepreneurial performance of the management team. We were particularly impressed by the high-quality and extensively MDR-certified product portfolio, the long-standing loyal partnerships with customers and suppliers, and the high level of innovation with a strong track record. We look forward to a successful collaboration with the management team.”

Robert Stein, Partner at Gilde Healthcare Private Equity, notes, “DETAX represents an excellent basis for further organic and inorganic growth. We look forward to adding value in the future with our broad international network as well as our deep industry expertise, especially with respect to buy-and-build.”

The Investor Consortium was advised on the transaction by KWM (legal and structuring), CODEX (market), PwC (finance & tax), Shearman & Sterling (financing documentation), GCA Altium (debt advisor) and Willis Towers Watson (insurance). Responsible for the transaction at ECM are Tim Krume, Axel Eichmeyer and Paul Hansen, at PINOVA Herbert Seggewiß, David Gilli and Aylin Akkay and at Gilde Healthcare Private Equity Robert Stein, Tom Klein Robbenhaar and Julian Primer. DETAX was jointly advised on the transaction by CMS, Crowe BPG and Kanzlei Wangler.

About ECM Equity Capital Management GmbH (‘ECM’)
ECM is a trusted growth partner for mid-sized enterprises and entrepreneurs in German-speaking Europe. Since 1995, ECM has raised the private equity funds GEP I-V with aggregate equity commitments of more than €1 billion and currently invests out of the fifth fund GEP V (€325 million). The funds invest primarily in leading mid-market companies with attractive growth potential in the context of ownership successions, partnership transactions and corporate spin-offs. Further information at: www.ecm-pe.de.

About PINOVA Capital GmbH („PINOVA”)
PINOVA Capital is an independent private equity firm investing in high-growth technology companies in German-speaking regions. PINOVA Capital focuses on “Mittelstand” companies with sales between €10 million and €75 million in the sectors industrial technology and information technology, characterized by significant growth potential, sustainable competitive advantages and a strong market position in their niche. Further information at: www.pinovacapital.com

About Gilde Healthcare
Gilde Healthcare is a specialized healthcare investor with two fund strategies: Venture&Growth and Private Equity. The firm is headquartered in Utrecht (The Netherlands) with local offices in Frankfurt (Germany) and Cambridge (United States). Gilde Healthcare Private Equity participates in profitable lower mid-market healthcare companies based in North-Western Europe. The Private Equity fund targets healthcare providers, suppliers of medical products and service providers in the healthcare market. Gilde Healthcare Venture & Growth invests in medtech, healthtech and therapeutics in Europe and North America. Further information at: www.gildehealthcare.com

About DETAX Group („DETAX“)
DETAX, headquartered in Ettlingen with around 110 employees, is a specialist for medical materials. For more than 65 years, DETAX has been developing silicones and light-curing resins for medical applications and 3D printing. The company is one of the world’s leading specialists in polymer materials with a focus on the dental and audio sectors. Further information at: www.detax.de

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Audax Private Equity Completes the Sale of Katena Products to Corza Medical, a GTCR Portfolio Company

Audax Group

Audax Private Equity (“Audax”) today announced that it has successfully completed the sale of Katena Products (“Katena” or the “Company”) to Corza Medical (“Corza”), a GTCR portfolio company.

Katena is a leading global provider of precision ophthalmic instruments and therapeutics to physician offices, hospitals, surgical centers, distributors, medical device OEMs, and clinics. Founded in 1975 and headquartered in Parsippany, New Jersey, Katena’s product offering includes precision surgical instruments, single-use devices, and specialty biologics that are sold in over 110 countries through a network of direct salespeople and distributors. Katena has more than 200 employees across Europe and North America and serves over 5,000 customers around the world.

Since being acquired by Audax in 2015, Katena has undergone a period of transformation, growth, and success:

Invested in systems and IT infrastructure, including ERP and CRM systems upgrades, to support product quality, realize operational efficiencies, and drive sales
Expanded and improved manufacturing capabilities and infrastructure, including integration of supply chain with a continued focus on insourcing initiatives
Completed eight acquisitions in order to expand the Company’s product portfolio, geographic presence, and manufacturing capabilities
David Wong, Managing Director at Audax, said, “We’ve enjoyed a terrific partnership with the Katena team and are very proud of the growth the Company has achieved. Over the course of our investment, Katena has expanded both its product portfolio and customer base via organic growth and strategic acquisitions. We wish the team continued success as a part of Corza Medical with GTCR’s support.”

Steve Blazejewski, Chief Executive Officer of Katena, commented, “Audax has been an instrumental partner in helping Katena evolve into a leading ophthalmic products platform. With the support of Audax’ deep investment expertise, global resources, and operational experience, we have been able to accelerate our growth plans while enhancing our ability to meet the needs of our global customer base. We thank Audax for their partnership and look forward to embarking on our next phase of growth as a part of Corza Medical.”

Robert W. Baird & Co served as financial advisor and Kirkland & Ellis served as legal advisor to Katena.

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