Wellington Partners Announces First Closing of New Life Science Fund With $91 Million
Published: Sep 19, 2012
The new fund has attracted investors from Germany, Switzerland, Austria, Benelux, France, the UK, the US and the Middle East. Among the main investors in Wellington Partners IV Life Science are the European Investment Fund (EIF), LfA Foerderbank Bayern, Austria Wirtschaftsservice GmbH and several large family offices. Despite the challenging financial environment, investors have been convinced by the opportunity to benefit from participation in companies developing highly innovative products in a major growth market as well as by the excellent track record of the Wellington Partners life science investment team.
Wellington Partners was an early investor in Swiss-based listed pharma player Actelion and in mtm laboratories, a German diagnostics company focusing on cervical cancer screening, which was acquired by Roche in 2011 for up to € 190 million. The active portfolio comprises a number of highly promising life science companies, including: immatics, a leading therapeutic cancer vaccines company with a broad clinical pipeline, including a renal cell cancer vaccine already in phase III clinical development; invendo medical, which received FDA approval for its disposable colonoscope earlier this year; Oxford Immunotec, a diagnostics company marketing its blood test for latent TB infection globally, thereby addressing a blockbuster market; and Symetis, which is currently launching a highly innovative second-generation minimally invasive heart valve. In light of these success stories many existing investors also participated in the new fund and increased their commitments.
Dr. Rainer Strohmenger, General Partner at Wellington Partners, explains: “This first closing of our new, larger fund in a challenging financial environment is a big success and reflects the strength of our team and our approach to investment in this complex market. Numerous renowned investors are trusting in our ability to create value by selectively investing in the most promising and innovative private life science companies in Europe. The market environment is highly favorable because a majority of investors are currently neglecting this segment despite the fact that the life science market will be one of the most important growth drivers in the coming years. This has led to a scarcity of capital, moderate entry valuations and hence the opportunity to generate outstanding returns for those investors who are willing to act anti-cyclically. This strategy has been pursued by Wellington Partners highly successfully for many years.”
Dr. Rainer Strohmenger
Tel: +49 89 21994116
About Wellington Partners
Wellington Partners is among the most successful pan-European Venture Capital firms. With more than € 800 million under management and offices in Munich, London and Zurich, Wellington Partners invests in start-up companies throughout Europe that have the potential to become global leaders in the areas of digital media, resource efficiency and life sciences.
Since 1998, Wellington Partners has invested in more than 100 companies, including publicly listed firms like Actelion, Evolva, Wavelight (acquired by Alcon) and Xing as well as privately held companies like AyoxxA, Grandis (acquired by Novartis), immatics, implanet, invendo medical, mtm laboratories (acquired by Roche), Oxagen, Oxford Immunotec, Quanta, Sapiens, Sensimed, Supersonic Imagine, Symetis and Spotify. For further information, please visit www.wellington-partners.com.
Chris Gardner, PhD
Citigate Dewe Rogerson
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