French venture fund plans investments in Danish biotech industry  

2008.05.30
Edmond de Rothschild Investment Partners has raised DKK 1.1bn for a new fund and now plans to invest in biotech companies in Denmark and the rest of the Nordic region
French venture fund Edmond de Rothschild Investment Partners has raised DKK 1.1bn (USD 230m) for a new fund and now plans to invest in biotech companies in Denmark and the rest of the Nordic region, writes financial daily newspaper Børsen. Danish biotech companies are estimated to need up to DKK 3bn (USD 630m) in new capital over the next 12 months, so the interest from the French fund is welcomed in the industry.
 
Søren Carlsen, chairman of the Danish Association of Biotechnology Industries and partner in Novo Ventures says: "Some funds have been standing still in Denmark, so taking that into account it is needed and good news. At the same time it is a recognition of the fact that Denmark has a good position in European biotech."
 
Biotech companies in Denmark that need fresh cash in the next year include 7TM Pharma, Egalet, Symphogen, Astion Pharma, NS Gene, ACE Biosciences, Nuevolution, Natimmune, Liplasome and Sanos Biosciences.
 
Olivier Litzka, partner in Edmond de Rothschild Investment Partners comments: "Our deal flow in the Nordic region is not yet sufficient and we need to increase our exposure to possible agreements. He notes that Edmond de Rothschild Investment Partners currently knows too few people in Denmark and encourages venture firms and biotech managers to contact the French fund with possible investment ideas.
 

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