BioSpace.com

Biotech and Pharmaceutical
News & Jobs
Search the Site
 
   
Biotechnology and Pharmaceutical Channel Medical Device and Diagnostics Channel Clinical Research Channel BioSpace Collaborative    Job Seekers:  Register | Login          Employers:  Register | Login  

NEWSLETTERS
Free Newsletters
Archive
My Subscriptions

NEWS
News by Subject
News by Disease
News by Date
PLoS
Search News
Post Your News
JoVE

CAREER NETWORK
Job Seeker Login
Most Recent Jobs
Browse Biotech Jobs
Search Jobs
Post Resume
Career Fairs
Career Resources
For Employers

HOTBEDS
Regional News
US & Canada
  Biotech Bay
  Biotech Beach
  Genetown
  Pharm Country
  BioCapital
  BioMidwest
  Bio NC
  BioForest
  Southern Pharm
  BioCanada East
  US Device
Europe
Asia

DIVERSITY

INVESTOR
Market Summary
News
IPOs

PROFILES
Company Profiles

START UPS
Companies
Events

INTELLIGENCE
Research Store

INDUSTRY EVENTS
Biotech Events
Post an Event
RESOURCES
Real Estate
Business Opportunities

 News | News By Subject | News by Disease News By Date | Search News
eNewsletter Signup
Miles
Km80.5

   

De Novo Ventures Closes $300 Million Life Science Fund


8/22/2006 11:08:06 AM

Menlo Park, CA--(MARKET WIRE)--Aug 22, 2006 -- De Novo Ventures today announced the close of its third venture fund, De Novo Ventures III. The new $300 million fund will be invested in medical technology and biotechnology opportunities by industry veterans Fred Dotzler, Richard Ferrari, Joe Mandato, David Mauney, MD, and Jay Watkins. De Novo Ventures III will make investments in medical device companies and in biotech companies with initial human clinical experience.

"De Novo Ventures III builds upon the successful investment strategy of our first two funds," said Fred Dotzler, a founder and managing director of De Novo Ventures. "The new fund allows us to invest more capital in a given opportunity, and to support emerging companies from their early product development through initial marketing." Companies financed by De Novo Ventures I include Cryovascular Systems, acquired by Boston Scientific; Favrille, Nasdaq FVRL; FoxHollow Technologies, Nasdaq FOXH; Lumend, acquired by Johnson and Johnson; Microvention, acquired by Terumo; Renovis, Nasdaq RNVS, and TriVascular, acquired by Boston Scientific.

"Entrepreneurs view us as partners who bring first-hand, start-up experience to their companies," said Rich Ferrari, a founder and managing director. "Our team has personally founded or co-founded 4 medical device companies, and have served as CEOs of 14 companies, both public and private. We want young companies to consider the substantial impact that we can have on their businesses."

"The complexity of life science investing creates a unique set of challenges. We have built a firm with the breadth of skills necessary to succeed in the current environment," adds David Mauney, MD, a founder and managing director.

The fund managers have been long-time contributors to the life science industry. Over the last 20 years, they have led the creation of companies responsible for breakthrough innovations in the areas of women's health, and minimally invasive cardiac and general surgery. "With our years of entrepreneurial experience, we are able to help young entrepreneurs anticipate and avoid some of the common mistakes companies make," said Joe Mandato, a managing director.

As investors, the managing directors have prior experience with four different venture firms and have funded successful medical device, biopharmaceutical and drug delivery companies that are now public.

"Many of the companies that we fund will eventually be acquired by the large cap med tech and bio/pharmaceutical companies. Large companies view acquisitions as an important component of their strategy for continuing to enter new businesses and continuing to grow," said Jay Watkins, a managing director.

About De Novo Ventures:

De Novo Ventures, founded in 2000, is a venture capital firm specializing in life science companies. Located in Menlo Park, California, the firm invests nationally with a focus on the Western U.S. The fund managers combine significant entrepreneurial, operating and investment experience. As entrepreneurs, they founded or co-founded 4 companies including CardioThoracic Systems, Gynecare, Integrated Vascular Systems, and Origin Medsystems. The firm has $650 million under management. For more information about De Novo Ventures, visit www.denovovc.com.

Contact: Contacts:

De Novo Ventures (650) 329-1999

Fred Dotzler Managing Director Email Contact

Richard Ferrari Managing Director Email Contact

Cathy Minshall Chief Financial Officer Email Contact

Source: De Novo Ventures

>>> Discuss This Story



Read at BioSpace.com

   

ADD TO DEL.ICIO.US    ADD TO DIGG    ADD TO FURL    ADD TO STUMBLEUPON    ADD TO TECHNORATI FAVORITES