M Ventures portfolio company Calypso, a Merck spin-out, enters into agreement to be acquired by Novartis

M Ventures

Calypso is a European biotech translating Interleukin-15 biology into medical breakthroughs by developing CALY-002, an anti-IL-15 monoclonal antibody, for an array of autoimmune indications. The acquisition of Calypso gives Novartis full rights to CALY-002, a pipeline-in-a-drug with potential in dermatology, gastro-intestinal and rheumatology indications

AMSTERDAM, the Netherlands, January 08, 2024 / B3C newswire / — Calypso Biotech BV (‘Calypso’), a leader in the development of Interleukin15 (IL-15) targeted therapies, announced today that it has entered into an agreement to be acquired by Novartis AG (‘Novartis’). Calypso’s shareholders will receive an upfront payment of $250 million upon closing and are eligible to receive development milestones of up to $175 million based on the achievement of certain predetermined milestones.

Calypso, a spin-out from Merck, is focused on the research and development of monoclonal antibodies for an array of autoimmune indications, with an expertise in IL-15 biology. IL-15 is a broad, untapped immune axis that controls barrier function and downstream immune cascades in many chronic autoimmune diseases. Calypso’s lead product candidate, CALY-002, is a potential best-in-class therapeutic antibody that binds to and neutralizes Interleukin-15.

The acquisition gives Novartis full rights to CALY-002. Novartis intends to further explore CALY-002 across a wide variety of autoimmune indications with high unmet medical need. CALY-002 is currently evaluated in a Phase 1b trial in patients with Celiac Disease and Eosinophilic Esophagitis.

We are excited for this transaction with Novartis, a company with relentless commitment to the development of innovative therapies for autoimmune conditions. As part of the Novartis portfolio, CALY-002 is in the best position to be developed effectively, so that it can promptly address unmet medical needs in multiple indications

Alain Vicari, Chief Executive Officer & Co-Founder, Calypso

The transaction with Novartis constitutes the high point in the development path of CALY-002 for the Calypso team. Calypso has established a significantly de-risked profile for CALY-002 as a potential best-in-class therapeutic anti-IL-15 antibody

Bernard Coulie, Chairman, Calypso

Novartis is committed to bringing innovative treatment options forward for patients living with immunological diseases. We’re thrilled to add Calypso’s potential best-in-class antibody to our Immunology pipeline and explore it in a spectrum of autoimmune indications.

Richard Siegel, Head of Immunology Research at Novartis

Lazard acted as financial advisor and Goodwin Procter LLP acted as legal counsel to Calypso.

About Calypso Biotech BV
Calypso is a private biotechnology company focused on the research and development of novel biologics to address unmet medical need in autoimmune and inflammatory diseases.

Calypso is developing a novel anti-IL-15 monoclonal antibody to treat a broad range of chronic autoimmune diseases by blocking Interleukin-15 (IL-15) and its wide-ranging functions at many levels of the immune response cascade. CALY-002, a highly potent monoclonal antibody, neutralizes all forms of IL-15 through a uniquely effective molecular mode of action to reduce inflammation and prevent tissue destruction.

Calypso was founded by M Ventures, the corporate strategic venture arm of Merck, and is headquartered in Amsterdam, The Netherlands, with offices and laboratories in Geneva, Switzerland. Investors include M Ventures, Inkef Capital, Gilde Healthcare, Fountain Healthcare Partners and Johnson & Johnson Innovation – JJDC, Inc.

For more information see www.calypsobiotech.com.

Categories: News


twig secures £3 million in funding to bioengineer eco-friendly products at scale


Our planet’s natural resources are increasingly under strain due to climate change and overconsumption. Novel and more eco-friendly solutions to how we produce food and essential everyday items are urgently needed to sustain a growing global population.

This is why we are excited to back twig, a UK-based bioengineering company that harnesses an AI-first approach to develop eco-friendly alternatives to everyday ingredients in consumer goods, and replace environmentally harmful chemicals and ingredients (e.g. acetone, palm oil, or isoprene), which are typically produced from fossil fuels, or hyper-intensive farming.

Founded by Dr. Russ Tucker (who previously founded UK cultivated meat pioneer Ivy Farm), Dr. James Allen, and Dr. Satnam Surae, twig is on a mission to radically improve the speed and efficacy of lab-based bioengineering, creating affordable, scalable, and dependable ingredients that producers can use in the everyday items the world relies on.

Dr. Russ Tucker, co-founder of twig highlights: 

“Many of the biggest little ingredients that go into the products we use in our daily lives are hugely damaging for the planet. This needs to change, and this needs to happen fast. (…) through the right combination of  AI and automation, we can deliver a step-change in bioengineering, driving a global transition from unsustainably resourced ingredients to bio-fermented ingredients in a way that benefits everyone – people, producers, and the planet.” 

twig’s new approach fundamentally reduces the time and costs of conventional bioengineering processes for developing potential ingredient strains. Combining AI and SynBio (synthetic biology), twig relies on three distinct tech pillars:

1) Bio:Builder: a best-in-class biological tool that allows it to create the building blocks to develop its new sustainable ingredients.

2) Grow:Bot: a dependable, programmable, and scalable robotics, enabling the manipulating and analysis of tens of thousands of bacteria variations each month.

3) ML:Bridge: twig’s AI connects the dots across the ever-growing standardised and formatted data library generated by Bio:Builder and Grow:Bot. ML:Bridge reviews production yields against target thresholds and recommends pathway improvements.

Since its beginnings in late 2022, twig has already tested thousands of strains through their automated platform in just five short months in the lab.

On why we invested, our Partner Tom Wilson comments:

“We believe the timing is perfect for seeing a real breakthrough in bioengineered products due to advancements in AI and automation. The Twig team have the perfect combination of technical and domain expertise to make their vision a reality and we’re thrilled to have the opportunity to partner with them.

We are excited to participate in twig’s £3 million seed round, alongside Project A, Zero Carbon Capital, UK Innovation and Science Seed Fund, Gaingels, and expert angels.

For more information, visit twig.bio.

Categories: News


Thompson Street Capital Partner’s Vector Laboratories Acquires Quanta BioDesign


Thompson Street Capital Partners (TSCP), a private equity firm based in St. Louis, today announced the acquisition of Quanta BioDesign, the inventor of discrete polyethylene glycol (dPEG®) technology for advanced bioconjugate and payload delivery design for life science and biopharma applications, by Vector Laboratories, a portfolio company of TSCP and the pioneer of innovative proteomic and glycomic research solutions. This acquisition further expands Vector Laboratories’ portfolio of bioconjugation linkers and dyes and builds on its manufacturing and bioconjugation capabilities to better serve partners across biopharma and the life sciences. Terms of the transaction were not disclosed.

“This acquisition supports Vector Laboratories’ long-term strategic vision of accelerating the pace of scientific discovery for life science companies and transformational treatments and approaches for biopharma companies,” said Lisa V. Sellers, PhD, CEO of Vector Laboratories. “It also builds on our recent acquisition of Click Chemistry Tools and Fluoroprobes and goes beyond standard linker capabilities to serve broader industrial segments, expanding what’s possible for customers in manufacturing components for their end products. It truly demonstrates a new level of flexibility in what they can accomplish with our offerings.”

Quanta BioDesign develops patented and innovative cross-linking and labeling chemistries that incorporate and are uniquely enabled by their dPEG® technology, allowing for new approaches in the areas of therapeutic and diagnostic development. The Plain City, OH-based company was founded for the purpose of developing and commercializing an extensive line of dPEG® based products for companies involved in drug discovery and diagnostic development programs.

J.C. Wetzel, TSCP Managing Director, said, “We’re excited about the opportunity to continue executing against Vector Laboratories’ long-term growth strategy by bringing cutting-edge technology to an expanding customer base, increasing its range of products and services, and ultimately impacting the important work of biopharmaceutical companies developing the next generation of treatment options.”

Vector Laboratories acquired Click Chemistry Tools, a manufacturer of click chemistry linkers and labeling reagents, and Fluoroprobes, a leader in fluorescent probes and dyes earlier this year. Vector was the first company to commercialize avidin-biotin enzyme complex kits for immunohistochemistry and antifade mounting media for immunofluorescence. Since then, it has introduced more than 600 reliable reagents and kits through four decades of leadership in labeling and detection technologies.

Categories: News


EQT Private Equity to sell Ellab, following transformation into a leading validation & monitoring provider for the Biotech and Pharmaceutical industries

  • EQT Private Equity, together with its co-shareholders, to sell Ellab to Novo Holdings
  • Since EQT Private Equity invested in 2019, Ellab has transformed into a full-suite provider of validation and monitoring solutions and services, serving all the top 20 biotech companies and all the top 40 pharmaceutical companies globally
  • Transformation has resulted in Ellab tripling its revenues, EBITDA and number of employees, while experiencing approximately 20% annual organic revenue growth and completing 15 add-on acquisitions

EQT is pleased to announce that EQT Mid Market Europe (“EQT Private Equity”), together with its co-shareholders, have agreed to sell Ellab (“Ellab” or the “Company”) to Novo Holdings, which is responsible for managing the assets and wealth of the Novo Nordisk Foundation, one of the world’s largest philanthropic enterprise foundations.

Headquartered in Hillerød, Denmark, Ellab provides validation and monitoring solutions and services for biotech and pharmaceutical processes. Its solutions and services measure and document parameters such as temperature, pressure, and carbon dioxide. These help clients to ensure consumer safety and regulatory compliance while reducing time to market and the risk of product loss.

EQT Private Equity acquired Ellab in September 2019 with a vision to accelerate the Company’s growth journey by solidifying its core offering within validation solutions, while expanding into monitoring solutions and field services & consulting. Today, Ellab has transformed into a full solution provider, while tripling its revenues, EBITDA and employee base. It counts all the top 20 biotech companies and all the top 40 pharmaceutical companies globally as clients.

During EQT Private Equity’s ownership, Ellab shifted its customer focus towards high-growth industries such as biotech, cell & gene therapies, and contract development & manufacturing organizations. At the same time, it invested significantly in research & development, digitalization and personnel to strengthen the organization, while acquiring 15 companies around the globe. The Company has also defined a clear sustainability strategy, for instance by committing to the Science Based Targets initiative that requires Ellab to set greenhouse gas emission reduction targets in line with the 1.5° pathway described in the Paris Agreement.

Rikke Kjær Nielsen, Partner within EQT Private Equity’s Advisory Team, said, “Ellab’s solutions play a vital role in ensuring accuracy and compliance in its clients’ biotech and pharmaceutical processes, which is key for these companies. This was true when we first invested in Ellab and remains the case today. The difference now is the scale and flexibility that Ellab offers, as it has transformed into a full-suite provider of validation and monitoring solutions and services. It has been a privilege to partner with the entire Ellab management team, who have built a company with a strong culture and customer focus, dedication to innovation and commitment to consumer safety. We believe Novo Holdings is a great partner for the next stage of Ellab’s growth journey and we wish them all the best in the future.”

Ludvig Enlund, CEO of Ellab, said “With EQT Private Equity’s support, Ellab has transformed into a truly leading global player with best-in-class software and hardware for validation and monitoring for the life sciences industry, and today also holds a strong position within field services & consulting. We are grateful for the partnership and now look forward to continuing our journey with Novo Holdings.”

The transaction is subject to regulatory approval. Closing of the transaction is expected in Q3 2023.


EQT Press Office, press@eqtpartners.com, +46 8 506 55 334

About EQT
EQT is a purpose-driven global investment organization with EUR 119 billion in assets under management within two business segments – Private Capital and Real Assets. EQT owns portfolio companies and assets in Europe, Asia-Pacific and the Americas and supports them in achieving sustainable growth, operational excellence and market leadership.

More info: www.eqtgroup.com
Follow EQT on LinkedIn, Twitter, YouTube and Instagram

About Ellab
Headquartered in Hillerød, Denmark, Ellab provides Validation and Monitoring Solutions and Services used for measuring and documenting critical parameters such temperature, pressure and CO2 in mainly biotech and pharma processes. The Company serves all of the top 20 biotech companies and all of the top 40 pharma companies globally helping them ensure consumer safety and regulatory compliance, while reducing time to market and the risk of product loss.

More info: https://www.ellab.com/

About Novo Holdings A/S
Novo Holdings is a holding and investment company that is responsible for managing the assets and the wealth of the Novo Nordisk Foundation. The purpose of Novo Holdings is to improve people’s health and the sustainability of society and the planet by generating attractive long-term returns on the assets of the Novo Nordisk Foundation.

Wholly owned by the Novo Nordisk Foundation, Novo Holdings is the controlling shareholder of Novo Nordisk A/S and Novozymes A/S and manages an investment portfolio with a long-term return perspective. In addition to managing a broad portfolio of equities, bonds, real estate, infrastructure and private equity assets, Novo Holdings is a world-leading life sciences investor. Through its Seeds, Venture, Growth, and Principal Investments teams, Novo Holdings invests in life science companies at all stages of development.

As of year-end 2022, Novo Holdings had total assets of EUR 108 billion.

About the Novo Nordisk Foundation
Established in Denmark in 1924, the Novo Nordisk Foundation is an enterprise foundation with philanthropic objectives. The vision of the Foundation is to improve people’s health and the sustainability of society and the planet. The Foundation’s mission is to progress research and innovation in the prevention and treatment of cardiometabolic and infectious diseases as well as to advance knowledge and solutions to support a green transformation of society.


Categories: News


Jeito Capital Co-Leads a EUR 104 million financing in Noema Pharma, a clinical-stage biopharma company targeting debilitating central nervous system disorders

Jeito Capital
  • Noema Pharma’s clinical-stage assets and diversified pipeline hold significant potential in developing effective therapeutic options for patients with debilitating central nervous system (CNS) disorders, addressing high unmet medical needs
  • Jeito Capital’s investment in Noema Pharma marks its second in the field of neurological disorders and represents a significant opportunity to support this promising therapeutic area with high growth potential
  • Through its investment, Jeito Capital aims to promote the expansion and acceleration of Noema’s development activities and bolster value creation in France and in Europe, reinforcing its dedication to fostering the growth of biopharmaceutical champions in the region

Paris, France, March 7th 2023 – Jeito Capital (“Jeito”), the largest fully independent private equity firm dedicated to healthcare and biopharma in Europe, announced today that it has co-led a EUR 104 million (CHF 103 million, approx. USD 112 million) financing in Noema Pharma (the “Company”), a clinical-stage biopharma company targeting debilitating central nervous system (CNS) disorders. Noema Pharma has offices in Switzerland, France, and in the US.

The oversubscribed financing was co-led by Jeito and Forbion with participation from new investors such as the UPMC Enterprises joined by existing investors Sofinnova Partners, Polaris Partners, Gilde Healthcare and Invus.

Founded in 2019 in Paris, France, Noema Pharma currently has multiple active Phase 2b clinical trials in highly undertreated CNS conditions including seizures in Tuberous Sclerosis Complex, severe pain in Trigeminal Neuralgia and Childhood Onset Fluency Disorder. The Company has also completed a Phase 2a clinical trial in adult patients with Tourette Syndrome that is currently being extended to adolescents. As part of its indication expansion strategy, the Company also anticipates initiating clinical development in Atypical Depression and Binge Eating Disorders.

Proceeds from the financing will primarily be used to advance the Company’s clinical-stage assets.

Jeito selected Noema Pharma in line with its investment strategy of supporting the development of the most promising European biopharma companies with high growth and acceleration potential. As Jeito’s second investment in a biopharma company targeting neurological diseases, Noema Pharma’s maturing clinical-stage pipeline shows great promise for helping patients who currently lack effective treatments or face unmet medical needs.

In addition, Jeito will invest in Noema Pharma SAS (France), enabling it to expand its clinical trials and safety monitoring efforts in France and in Europe. This is expected to create new job opportunities and provide support for French and European suppliers in the manufacturing process. Rachel Mears, Partner at Jeito Capital, will join Noema Pharma’s Board of Directors.

Dr Rafaèle Tordjman, MD, PhD, Founder and CEO of Jeito Capital, commented : “We are excited to partner with Noema Pharma in their mission to accelerate the development of innovative treatments for debilitating CNS disorders. I am particularly proud that the company born in Paris three years ago, which developed in Switzerland and the US, continues to create value in France and Europe. This reflects Jeito Capital’s strong commitment to fostering the emergence of potential global biopharma leaders from Europe. As Jeito Capital’s second investment in a neurology company, Noema Pharma with its clinical-stage assets and diversified pipeline has shown significant potential for the development of effective innovative therapies for the benefit of patients.”

Rachel Mears, Partner at Jeito Capital, added: “One of the pillars of our investment strategy is to deploy capital in truly differentiated and innovative therapies with high unmet medical need. The clinical work being undertaken by Noema Pharma fit these criteria exactly. The expertise, quality and dedication of the Noema team are clear to see in their development work and position the Company as an upcoming global CNS leader. We are excited to partner with Noema Pharma to accelerate its mission of developing effective solutions for patients with CNS disorders and are committed to supporting their continued growth and success.”

Luigi Costa, Chief Executive Officer of Noema Pharma, said: “We are excited to announce the successful completion of this oversubscribed Series B financing round and very pleased to have a world-class group of investors supporting our vision of bringing much-needed treatments to those living with debilitating central nervous system disorders. We welcome our new investors who bring extensive expertise and knowledge of drug development and company building and add further strength to our robust investor base. This financing comes at a key time for Noema Pharma as we look forward to extensive news flow over the next 24 months.”

About Jeito Capital

Jeito Capital is a global leading Private Equity company with a patient benefit driven approach that finances and accelerates the development and growth of ground-breaking medical innovation. Jeito empowers and supports managers through its expert, integrated, multi-talented team and through the investment of significant capital to ensure the growth of companies, building market leaders in their respective therapeutic areas with accelerated patients’ access globally, especially in Europe and the United States. Jeito Capital has €534 million under management and a rapidly growing portfolio of investments. Jeito Capital is based in Paris with a presence in Europe and the United States.

For more information, please visit www.jeito.life or follow us on Twitter or LinkedIn.

About Noema Pharma

Noema Pharma (www.noemapharma.com) is a clinical-stage biotech company targeting debilitating central nervous system (CNS) disorders characterized by imbalanced neuronal networks. The Company has a well differentiated pipeline with four mid clinical-stage therapeutic product candidates in-licensed from Roche. Noema currently has 3 active Phase 2b clinical trials in highly undertreated CNS conditions: seizures in Tuberous Sclerosis Complex, severe pain in Trigeminal Neuralgia and Childhood Onset Fluency Disorder. The Company has completed a Phase 2a clinical trial in adult patients with Tourette Syndrome that is currently being extended with an adolescent cohort. The Company has also completed preclinical validation studies in Atypical Depression and Binge Eating Disorder. Noema Pharma was founded in 2019 by the leading venture capital firm Sofinnova Partners. Additional investors include Biomed Partners, Forbion, Gilde Healthcare, Invus, Jeito Capital, Polaris Partners, UPMC Enterprises, and an undisclosed investor.

For further information please contact:

Jeito Capital
Rafaèle Tordjman
Assia Mouhout, EA
Tel: +33 6 76 49 37 94

Consilium Strategic Communications
Mary-Jane Elliott /
Davide Salvi / Kris Lam
Tél. : +44 (0) 20 3709 5700 

Marion Bougeard
Tél. : +33 6 76 73 57 31 

Categories: News


LePure Biotech Closes Series C Financing Co-Led by Novo Holdings, General Atlantic, and Goldman Sachs Asset Management

General Atlantic
  • LePure Biotech is a leading provider of high-quality and innovative single-use bioprocessing solutions in China
  • Proceeds will be used to continue to accelerate product innovation and advance LePure Biotech’s go-to-market strategy

Shanghai, China – January 17, 2023 — Shanghai LePure Biotech Co., Ltd. (“LePure” or “LePure Biotech”) announced the completion of its Series C financing from a consortium of world-renowned investors co-led by Novo Holdings, General Atlantic and Goldman Sachs Asset Management, with participation from existing investors including Highlight Capital, Bayland Capital, HM Capital. LePure plans on using this funding to accelerate product innovation, promote overseas expansion, and enhance the Company’s competitiveness and influence in the global industrial chain.

LePure is a leading bioprocessing platform in China, offering full-fledged product solutions that enable the manufacturing of macromolecular drugs. LePure was founded in 2011 by Chairwoman Qin Sunxing, a seasoned entrepreneur with deep commercial and scientific experience in the bioprocessing field. Concurrent with this round of financing, LePure has completed its acquisition of QuaCell Biotechnology Co., Ltd. (“QuaCell”), marking LePure’s entry into the cell culture media business which carries substantial commercial synergies with LePure’s existing franchise. As a result, LePure’s broadened product suite now includes single use bioprocessing consumables, bioreactors, filtration and purification solutions, as well as cell culture media offerings.

As one of the earliest domestic providers of single use consumables and equipment for biopharmaceutical companies in China, LePure has kept its focus on improving research and development to deliver high-quality products for its customers. With significant progress made in basic materials R&D, product development and manufacturing capacity expansion, LePure is well positioned to capture industry growth opportunities on the back of therapeutic innovation and new drug launches.

Frank Wang, co-founder and CEO of LePure Biotech, said, “Biopharmaceutical upstream processing consumables play an important role in biological drugs R&D and production. Since its establishment, LePure Biotech has remained committed to building sustainable scientific research and innovation capabilities by improving drug development efficiency, ensuring stable and secure pilot phase production, and supporting the commercial-scale launch of new drug products. We are excited to have global investors like Novo Holdings, General Atlantic and Goldman Sachs Asset Management leading this round of financing and we look forward to our future collaboration. With the start of this new chapter, LePure will continue to focus on technological innovation and enhancing our global competitiveness to best serve our customers.”

Dr. Amit Kakar, Senior Partner and Head of Novo Holdings Asia commented: “LePure Biotech is an emerging star in the global bioprocessing space. Novo Holdings is excited to become LePure Biotech’s partner as the Company continues to gain strong momentum and profound recognition in the industry. This investment is deeply rooted within our deep expertise in the life science industry globally, and we look forward to working with LePure Biotech to play an integral role in the global pharmaceutical supply chain by offering high quality solutions and become one of the most trusted bioprocessing companies in China and globally.”

Lefei Sun, Managing Director and Head of Healthcare for China at General Atlantic, said, “Single-use bioprocessing consumables and equipment have significant market prospects in China. Since its establishment in 2011, LePure has not only enjoyed a first-mover advantage, but has also created formidable technical barriers for its competitors. The LePure team has a deep understanding of the global biopharmaceutical industry value chain, is positioned to quickly respond to market demands and shows strong expansion potential in international markets.”

Kevin Xu, a Managing Director leading healthcare and life science investments in Greater China at Goldman Sachs Asset Management, said, “Single-use bioprocessing has become widely adopted by biopharma companies globally given its operating efficiencies and rising demand for flexible manufacturing. We look forward to leveraging our global platform and capabilities to support LePure’s expansion.”

About LePure Biotech

Shanghai LePure Biotech was established in 2011. It empowers biopharma customers with high quality and innovative bioprocess solutions. LePure has comprehensive capabilities in R&D, manufacturing, and commercial operation. LePure is a customer centric company with commitment to high quality and continuous improvement. Driven by technology innovation, the company wants to be the most reliable partner of global biopharma. LePure’s product suite now includes single use system, filtration and purification solutions,cell culture media offerings after it acquired QuaCell in November 2022. Further information: https://www.lepure-bio.com.

About Novo Holdings A/S

Novo Holdings is a holding and investment company that is responsible for managing the assets of the Novo Nordisk Foundation. The purpose of Novo Holdings is to improve people’s health and the sustainability of society and the planet by generating attractive long-term returns on the assets of the Novo Nordisk Foundation.

Wholly owned by the Novo Nordisk Foundation, Novo Holdings is the controlling shareholder of Novo Nordisk and Novozymes (the Novo Group companies) and manages an investment portfolio, with a long-term return perspective. Novo Holdings invests in life science companies of all stages of development and also manages a broad portfolio of equities, bonds, real estate and infrastructure assets as well as private equity investments. As of year-end 2021, Novo Holdings had total assets of USD 106 billion. Further information: www.novoholdings.dk.

About General Atlantic

General Atlantic is a leading global growth equity firm with more than four decades of experience providing capital and strategic support for over 445 growth companies throughout its history. Established in 1980 to partner with visionary entrepreneurs and deliver lasting impact, the firm combines a collaborative global approach, sector specific expertise, a long-term investment horizon and a deep understanding of growth drivers to partner with great entrepreneurs and management teams to scale innovative businesses around the world. General Atlantic currently has over $73 billion in assets under management inclusive of all products as of September 30, 2022, and more than 215 investment professionals based in New York, Amsterdam, Beijing, Hong Kong, Jakarta, London, Mexico City, Miami, Mumbai, Munich, Palo Alto, São Paulo, Shanghai, Singapore, Stamford and Tel Aviv. For more information on General Atlantic, please visit the website: www.generalatlantic.com.

About Goldman Sachs Asset Management Growth Equity

Bringing together traditional and alternative investments, Goldman Sachs Asset Management provides clients around the world with a dedicated partnership and focus on long-term performance. As the primary investing area within Goldman Sachs (NYSE: GS), we deliver investment and advisory services for the world’s leading institutions, financial advisors and individuals, drawing from our deeply connected global network and tailored expert insights, across every region and market—overseeing over $2.4 trillion in assets under supervision worldwide as of September 30, 2022. Driven by a passion for our clients’ performance, we seek to build long-term relationships based on conviction, sustainable outcomes, and shared success over time.


Media Contacts

Emily Japlon & Gurion Kastenberg
General Atlantic media@generalatlantic.com

Categories: News


Gimv exits Biolam to its management backed by investors after a fast and successful growth trajectory into a leading French group of clinical testing labs


Topic: Divestment

Biolam and Gimv today announce an important step in the growth trajectory of Biolam. Following the group’s fast and successful development, combining organic and external growth, Gimv is selling its stake in Biolam to its founding team, backed by private equity investors. The founders, the management and their new partners will further focus on quality of service and care, and expansion in France.

In 2019, Gimv acquired a stake in Biolam 80 (www.groupebiolam.fr), an emerging group of clinical testing laboratories operating in the city of Amiens, together with Daniel Attias. The original plan, co-designed with Daniel Attias, aimed at creating a leading player in the Hauts-de-France region, in terms of size, clinical performance and level of service.

From the start Biolam has grown very quickly thanks to a combination of laboratory creation in under-serviced locations, an important enabler for accessible quality care, and strategic acquisitions. In parallel, the group continuously invested in staff, care organization, diagnostics equipment and IT backbone, serving its ambitious medical project. Altogether, these efforts enabled Biolam to become a leading laboratory group in the Hauts-de-France and Normandie region with a solid foundation for continued success.

The company currently operates a network of more than 30 labs, with 4 technical platforms and has a rich pipeline of active acquisition targets. Since Gimv’s investment in 2019, Biolam has signed 7 add-on acquisitions and has built a leading and high-quality diagnostics organization.

The transaction announced today will strengthen the company’s relentless focus on quality of service and care and expansion in its regions. The management team, with its new partners, will further invest in its organization while growing its laboratory network in order to build an even better diagnostic company for all stakeholders.

The transaction has no significant impact on the Net Asset Value of Gimv as of 30 September 2022. No further financial details will be disclosed.

Gautier Lefebvre, Partner at Gimv, and Kevin Klein, Principal at Gimv, state: We are extremely proud of having partnered with Biolam and Daniel Attias for its growth strategy where focus on quality diagnostics and service level to practitioners have always been paramount, especially during the pandemic. Since the start, we have been perfectly aligned with the management team, resulting in an optimal ability to build the organization and to seize growth opportunities. We are grateful for the successful and excellent cooperation with the management of Biolam and wish them – together with their new partners – all the best in their further growth trajectory.”

Daniel Attias, Chairman of the Biolam Group, says: “We have exceeded the targets we initially set ourselves with the Gimv team, which is a sign of a very effective collaboration. We are thankful for the successful partnership with Gimv that enabled the development of Biolam into an established and leading laboratory group with solid foundations for the next growth phase. and look forward to further grow with our new partners.”


Read the full document




Karel Oomsstraat 37, 2018 Antwerpen, Belgium


Categories: News


Industrifonden leads 120 million SEK financing round in Guard Therapeutics 


We’re happy to welcome Guard Therapeutics, a Swedish biotech company that develops new therapies for acute kidney injury, to our portfolio. The company just announced they’ve raised 120 million SEK in new capital from a syndicate led by Industrifonden and including Swedbank Robur Fonder, Strand Kapitalförvaltning and Arctic Asset Management.

Guard Therapeutics develops novel therapies for diseases with a large medical need for more effective treatments. The company’s investigational drug RMC-035 recently received FDA Fast Track designation and is being developed as a kidney protective treatment in connection with open heart surgery. The newly raised capital will be used to secure the completion of the ongoing global phase 2 study (AKITA) and to finance selected preparatory phase 3 activities including CMC development.

Tobias Agervald, CEO at Guard Therapeutics, says: “We’re thrilled by the interest and response from a broad range of specialist and institutional investors. The capital provided by the syndicate led by Industrifonden will significantly broaden our investor base and enables us to run the phase 2 study in cardiac surgery to completion and initiate targeted preparatory activities for a subsequent registrational study.”

Fredrik Lehmann, Venture Partner at Industrifonden, says: “We are excited to support Guards’ mission to provide breakthrough treatment for patients with acute kidney injury.” 

Peter Wolpert, CEO at Industrifonden, adds: “Our investment focus is on private companies, but we’re truly impressed by the progress of Guard Therapeutics under Dr Agervalds leadership during the last years.” 

Categories: News


Kinnevik leads USD 150 million private placement in Recursion with USD 75 million investment


Kinnevik AB (publ) (“Kinnevik”) today announced that it has invested USD 75m in Recursion, a US-based clinical-stage biotechnology company industrializing drug discovery by decoding biology. Recursion is listed on NASDAQ under the ticker RXRX.

Recursion is a biopharma company mapping and navigating biology and chemistry with the goal of bringing better medicines to patients faster and at lower cost. Recursion leverages sophisticated machine-learning algorithms to analyse a collection of trillions of searchable relationships across biology and chemistry. With its massive experimental and computational scale, Recursion is uniting technology, biology and chemistry to advance the future of medicine.

Kinnevik has deepened its exposure and expertise in healthcare substantially over the last several years and remains committed to solving some of the most pressing challenges. One area Kinnevik had yet to address was the declining productivity in drug discovery and development, which leads to rising costs, lower efficiency, and unmet patient needs. It is, therefore, a natural extension of our healthcare strategy to invest in companies building and utilising a combination of AI and biotech to discover drugs that can treat or cure diseases in a faster, cheaper, and more effective way.

Kinnevik led the USD 150m private placement with its investment of USD 75m. Kinnevik will hold 7,653,061 shares of class A common stock of the company, corresponding to an economic ownership stake of approximately 4.2 percent.

Natalie Tydeman, Senior Investment Director at Kinnevik, commented: “Recursion represents an exciting combination of highly sophisticated biotechnology, a vast and valuable proprietary database of relatable biological and chemical data, together with an advanced machine learning platform, resulting in a superior drug discovery process. We are excited by Recursion’s mission to decode biology to radically improve lives, and we look forward to being long term partners to Recursion’s visionary and ambitious management team on this journey.”

Categories: News


Adelis Equity Partners raises Fund Continuation Vehicle for SSI Diagnostica Group, Enabling Transformational Acquisition

Adelis Equity

Adelis Equity Partners (“Adelis”) has raised a Fund Continuation Vehicle (“FCV”) to acquire SSI Diagnostica Group (“SSID”), a portfolio company of Adelis Equity Partners Fund I, alongside the company’s management and board, Adelis Equity Partners Fund III and the Adelis team. In connection with the transaction, SSID completed a transformational acquisition of TechLab Inc.

SSID, headquartered in Denmark, is a global in-vitro diagnostics company that has grown significantly since Adelis invested in the business in 2016 through innovation and new product development as well as strategic M&A. SSID joined forces with San Diego based CTK Biotech in 2020, significantly broadening the group’s rapid testing operations and expanding its geographic footprint beyond SSID’s strong position in Europe to also include emerging markets.

By now joining forces with the Virginia-based leading gastrointestinal diagnostics company TechLab, SSID broadens its infectious disease product offering further and lays the foundation for accelerated growth in the US.

The joint group will have combined annual sales of more than USD 160 million, more than six times the size of SSID when Adelis invested in the business in 2016.

“We believe rapid diagnostics and self-testing will continue to change healthcare. The restructuring of our ownership has enabled the acquisition of TechLab, but importantly also gives the group significant capital for further acquisitions and enables Adelis to continue to support the business for many more years” says Rasmus Molander at Adelis.

In the transaction, Adelis Equity Partners Fund I fully exits its investment in SSID to a consortium consisting of the FCV, Adelis’ latest flagship fund and affiliates, the company’s management and board, and the Adelis team.

The FCV, which is managed by Adelis, is backed by several institutional investors, including StepStone Group as the lead investor, and Los Angeles County Employees Retirement Association (“LACERA”) as junior lead.

Adelis was advised by Lazard, Akin Gump, Kromann Reumert, Vinge, White & Case, Gernandt & Danielsson, Troutman Pepper, Boston Consulting Group, and PWC on the transaction.

About Adelis Equity Partners

Adelis is a growth partner for well-positioned, Nordic companies. Adelis partners with management and/or owners to build businesses in growth segments and with strong market positions. Since raising its first fund in 2013, Adelis has been one of the most active investors in the Nordic middle-market, making 35 platform investments and more than 150 add-on acquisitions. Adelis today manages approximately €2.5 billion in capital. For more information, please visit www.adelisequity.com.

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