Direvo Biotech AG Raises $16.8 Million in Series C Financing

Köln, Germany, Oct 18, 2007 - (Hugin via Asia Business News) - Cologne, Germany, October 18, 2007 - DIREVO Biotech AG, a leading company for superior bioengineered products and processes for industrial and pharmaceutical applications, announced today the completion of a private Series C equity financing. Direvo raised EUR 12 million (USD 16.8 million). In addition, certain Series C investors acquired all common shares held by the company's founders, such as Evotec AG and former management. Bankhaus Wölbern, Hamburg and TVM Capital, Munich jointly led this financing round. NRW.BANK, Düsseldorf/Münster, joined with its venture capital fonds as additional new investor in this round. All previous institutional investors such as Danisco Venture A/S, Copenhagen, S-Equity Partner, Cologne, Mulligan BioCapital, Hamburg and funds managed by New York based Signet Healthcare Partners, an affiliate of Sanders Morris Harris, as well as private investors such as Nobel laureate Prof. Manfred Eigen, Prof. Detlef Riesner, Prof. Heinrich M. Schulte, Dr. Ruthild Winkler-Oswatitsch and management participated in the financing.