Seventure: Venture Capital investment

Seventure Partners: Venture Capital investment in Danish metabolic engineering company Fluxome Sciences

Seventure Partners leads a EUR 13m financing round
in its Danish portfolio company Fluxome Sciences and confirms its position as the most active international investor in Danish biotechnology. 

Seventure Partners, the European venture capital firm based in Paris announces that its Danish portfolio company Fluxome Sciences A/S has successfully closed its EUR 13m (USD 21m) Series B round of financing from a international syndicate of existing and new investors. The syndicate was led by Seventure Partners and included Danish venture firms Incuba Venture and Vecata Venture. The round also attracted one of Europe’s leading cleantech funds, Capricorn Cleantech Fund, managed by Capricorn Venture Partners (Belgium).

Fluxome’s vision is to become the global leader in the development, production and marketing of nutraceutical ingredients – a group of compounds with documented health benefits – using engineered yeasts. Nutraceutical ingredients are used in dietary supplements and foods and represent a fast growing market, which in 2007 was worth an estimated USD8 billion on ingredients alone. This market is expected to double before 2015.

This new financing will enable the Company to market in the USA its first product, resveratrol, later this year. Resveratrol is found in red grapes and in certain plant roots, and has documented anti-aging, anti-cancer and cardio-protective properties. In addition, the funds will support the development of Fluxome’s pipeline, which includes Omega-3 polyunsaturated fatty acids, towards the market over the next few years.

“Fluxome Sciences is a very promising company with a strong R&D pipeline and an exciting first nutraceutical product in resveratrol, which we anticipate will reach the market before the end of 2008,” said Isabelle de Cremoux, General Partner and Head of Life Sciences team at Seventure Partners.

She added, “We have a very strong interest and relationship with the Danish life sciences community, and have active investments in Santaris Pharma and Vivostat, making Seventure the Entrepreneurs en capital most active international investor in Danish biotech. We believe there is great science and innovation in Denmark, which combined with excellent management and high quality R&D personnel makes it a very attractive country in which grow emerging businesses and create significant value.”

“Our capital increase enables us to continue the company’s successful growth”, says Fluxome’s CEO, Steen Andersen. “We will be developing our technology platform even further and focus on realization of our business strategy objectives. The transaction is an important step in the transformation from a technology platform structure to a product based company. I am extremely pleased with the large interest we have experienced from the global venture environment. This is a clear token of recognition towards our business and long-term strategy documented by the very promising results we have achieved so far through the efforts of our highly motivated team of employees.”

About Seventure Partners

Seventure Partners, a leading European venture capital firm with more than EUR 500m under management, invests in innovative companies from early to later stage. In Life Sciences, Seventure started in 2001 with biopharmaceuticals and medical devices, and industrial biotechnology soon after. For more than 3 years, supported by a strong belief in the transition from prescription drugs to consumer/patient-driven prevention through a supplemented diet, Seventure decided to focus a significant part of its resources towards innovation in value-added nutrition.

Further information on Fluxome please go to: www.fluxome.com.
Steen Andersen, CEO, +45 88 70 84 00, sa@fluxome.com

Isabelle de Crémoux
Director of Life Sciences Dept, General Par