Forbion Capital Partners, the leading Dutch VC firm investing in
world-class healthcare technologies announces the sale of its portfolio
company, Santaris Pharma A/S for a total consideration of up to $ 450
million, of which an upfront cash payment of $250 million and additional
contingent payments of up to $200 million based on the achievement of
certain predetermined milestones.
Santaris, a privately held biopharmaceutical company based near
Copenhagen, Denmark, has pioneered its proprietary Locked Nucleic Acid
(LNA) platform that has contributed to an emerging era of RNA-targeting
therapeutics. This new class of medicines has the potential to address
difficult to treat diseases in a range of therapeutic areas.
The acquisition, which is subject to customary closing conditions, is
expected to close in August 2014. Roche plans to maintain Santaris
Pharma's operations in Denmark, where the existing site will be renamed
Roche Innovation Center Copenhagen.
"Forbion recognized that Santaris' LNA chemistries were the best in
class antisense technology when the firm led the recapitalization of the
Company in 2006," said Martien van Osch, Managing Partner at Forbion and
board member of Santaris Pharma. "Forbion has been a strong proponent
of the Company ever since, working closely with the management to
promote the significant therapeutic potential of this new class of drugs.
He added, "The Santaris investment story exemplifies Forbion's ability
to select new potential disruptive platform technologies at an early
stage, which drive a clear medical break-through. This deal for Santaris
further extends Forbion's solid track record."
Examples of other recent exits by portfolio companies that demonstrate
the maturity of Forbion as a firm and its portfolio include:
This press release shall not constitute an offer to sell or a
solicitation of an offer to buy, nor shall there be any sale of, these
securities in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
About Forbion Capital Partners
Forbion Capital Partners is a dedicated Life Sciences venture capital
firm with offices in Naarden, The Netherlands, and Munich, Germany.
Forbion invests in life sciences companies in drug discovery &
development as well as medical device companies addressing substantial
unmet medical needs. Forbion's investment team of nine investment
professionals has built an impressive performance track record since the
late nineties with successful investments in Rhein Biotech, Crucell,
Neutec, Glycart, Borean, Impella, Alantos, Acorda, Fovea, PanGenetics,
Argenta Discovery and most recently Biovex and Pathway Medical. Current
assets under management exceed $550m, split between four active funds
and comprising some 29 promising portfolio companies. Forbion Capital
Partners Fund II is supported by the European Investment Fund through
its ERP and LfA facilities. Forbion co-manages Biogeneration Ventures,
an early stage fund focused on (academic) spin-outs and seed investments
in the Netherlands. For more information, please visit www.forbion.com.
About Santaris Pharma A/S
Santaris Pharma A/S uses its proprietary Locked Nucleic Acid (LNA)
platform and tissue-targeting expertise to pioneer next-generation
antisense product candidates. Santaris Pharma is developing a diverse
pipeline of LNA therapeutics that influence the production or activity
of select RNA targets to address diseases that are difficult-to-treat
with conventional drug modalities. Santaris Pharma's innovation and
leadership position has attracted multiple collaborations with leading
global pharmaceutical companies. Founded in 2003, Santaris Pharma is
headquartered in Denmark.
Headquartered in Basel, Switzerland, Roche is a leader in
research-focused healthcare with combined strengths in pharmaceuticals
and diagnostics. Roche is the world's largest biotech company, with
truly differentiated medicines in oncology, immunology, infectious
diseases, ophthalmology and neuroscience. Roche is also the world leader
in in vitro diagnostics and tissue-based cancer diagnostics, and a
frontrunner in diabetes management. Roche's personalised healthcare
strategy aims at providing medicines and diagnostics that enable
tangible improvements in the health, quality of life and survival of
patients. Founded in 1896, Roche has been making important contributions
to global health for more than a century. Twenty- four medicines
developed by Roche are included in the World Health Organisation Model
Lists of Essential Medicines, among them life-saving antibiotics,
antimalarials and chemotherapy.
In 2013 the Roche Group employed over 85,000 people worldwide, invested
8.7 billion Swiss francs in R&D and posted sales of 46.8 billion Swiss
francs. Genentech, in the United States, is wholly owned member of the
Roche Group. Roche is the majority shareholder in Chugai Pharmaceutical,
Japan. For more information, please visit www.roche.com.
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