Nordic biotech funds in merger  

2002.09.30
Scandinavian Life Science merges with Sweden's Innoventus
Nordic biotech investment fund Scandinavian Life Science (SLS) is to merge its activities with the Swedish investment fund Innoventus, based in Uppsala. The deal gives SLS a bridgehead into the Stockholm region, around DKK 160 million (USD 21 million) in extra cash and an experienced management team. SLS is also taking over Innoventus' investments in local biotech companies, bringing their portfolio total to 27 companies. SLS' ownership is now extended to include 4th AP Fund, Skandia and the banking group Nordea. The major shareholders remain Danske Bank and Sweden's 6th AP Fund. SLS now has around DKK 800 million (USD 104 million) for new investments and additional capital injections in their existing portfolio. The news is reported in financial newspaper Børsen today.

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