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BIOCRATES Life Sciences GmbH Raises EUR 5 Million In Venture Financing


6/29/2006 10:33:26 AM

INNSBRUCK, Austria, June 29 /PRNewswire/ -- BIOCRATES life sciences, the leader in the discovery of biomarkers using targeted metabolite profiling, today announced the close of a EUR 5 million private equity investment from the German MIG funds. This investment further strengthens BIOCRATES' position in the field of high content analysis and discovery of multiparametric biomarkers for pharmaceutical R&D, and clinical diagnostics.

"BIOCRATES has a successful track record of applying its innovative technology in many areas of pharmaceutical and diagnostic collaborations. Now we will enable laboratories world-wide to utilize high content targeted metabolite analysis for biomarker discovery. These funds will allow to realize our commercialization goals of our metabolite analysis platform, application software and consumable-based products, and we are delighted to have the MIG corporations join our current investors," said Dr. Armin Graber, CEO of BIOCRATES.

The MIG corporations raise venture capital to invest preferentially into selected businesses in Germany and Austria. A major criterion for investment is the evaluation of the company for sustainable growth. A convincing candidate must offer an innovative and promising product pipeline substantiated by entrepreneurial accomplishments of the executive management. "At BIOCRATES the international and experienced management team has a long track record of success in a very short time. Achievement of milestones in research collaborations and promising results from consumable-based prototypes convinced us that they will bring innovative metabolite analysis products for biomarker discovery to the market," confirms Michael Motschmann, chairman of MIG's board of directors.

About BIOCRATES Life Sciences GmbH

BIOCRATES, a provider of high content metabolome information and technology, develops application systems and consumable-based products for pharmaceutical R&D, and clinical diagnostics. The targeted metabolomics platform comprises fully automated sample preparation and software linked to mass spectrometry-based analytics. The quantitative metabolite profiling approach enables standardized routine high-content screening. In partnership with pharmaceutical and biotechnology companies, BIOCRATES applies its technology to expedite drug discovery, reduce late-stage attrition rates, identify novel applications for existing drugs, and develop early tests for monitoring drug response. BIOCRATES was funded by KMT over the previous 4 years.

About the MIG Funds

The corporations "MIG AG&Co. Fonds 1 KG", "MIG AG&Co. Fonds 3 KG" and "MIG AG&Co. Fonds 4 KG" -­ all located in Munich, Germany -- are investing venture capital into innovative non-listed high technology companies in return for direct shares.

Press Release Contact Information: Dr. Armin Graber CEO BIOCRATES life sciences GmbH +43-512-579823 office@biocrates.at

This release was issued through WebWire®. For more information visit http://www.webwire.com.

Source: BIOCRATES life sciences GmbH


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