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Gilde Healthcare Sells Equity Stake In Swiss Biotech Company Glycart Biotechnology AG To Roche (RHHBY); Roche Will Pay Approximately CHF 235 Million

10/19/2005 5:11:39 PM

Utrecht, The Netherlands - July 19, 2005 - Gilde Healthcare, managed by Gilde Investment Management, announced today that it has signed an agreement to sell its equity stake in Swiss based GlycArt Biotechnology AG to Roche (SWX:ROCZ), one of the world’s leading research focused healthcare groups in the field of pharmaceuticals and diagnostics. Roche will pay approximately CHF 235 million (EUR 152 million) in cash in exchange for all outstanding shares of GlycArt.

Gilde Healthcare acted as co-lead investor of an international syndicate which invested EUR 13.6 million in the Series A financing round of GlycArt in November 2003. Edwin de Graaf, partner at Gilde Healthcare and non-executive Director of GlycArt, commented: "GlycArt’s management has done an outstanding job in building a company with cutting edge technology and a pipeline of promising antibodies within a few years time. This transaction shows the potential for realizing attractive returns in the European biotechnology sector."

GlycArt was founded in 2000 as a spin-off from the Swiss Federal Institute of Technology (ETH) at Zürich. The company is focused on the development and commercialization of a new generation of antibody therapeutics based on its proprietary GlycoMAb technology. GlycoMAb increases the potency of therapeutic antibodies targeting undesirable cells by engineering the carbohydrate component present in all such antibodies. Glycart has developed a product pipeline which includes three monoclonal antibodies in preclinical development for cancer.

About Gilde Healthcare Netherlands-based Gilde Investment Management is a global private equity investor with EUR 1.5 billion under management in four specialized private equity Funds. Gilde’s Healthcare Fund focuses on innovative life science companies in Europe and invests from seed stage through to late stage. Gilde acts as (co-)lead investor in international consortia. Following its first healthcare Fund, Gilde will raise a successor fund, Gilde Healthcare II. This new Fund has a target size of EUR 125 million and will be placed in the course of 2005.

Contact: Edwin de Graaf Investment Director Gilde Investment Management Tel. +31 30 219 2536

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