News | Pharmaceuticals & Life Sciences

Wednesday 28th April 2004

SJ Berwin's Berlin Venture Capital and BioTech team, together with Foley Hoag LLP, Boston, advised TVM Techno Venture Management as lead investor of a consortium of investors on a €25 million first round investment in Evotec NeuroSciences, a subsidiary of publicly listed Evotec EOAI AG. The investment is structured through a US holding company.

Evotec NeuroSciences is dedicated to developing better therapeutic products for the treatment of major CNS disorders. Its present focus is on Alzheimer's disease and other neurological disorders. The company's strength is the seamless integration of target identification and validation, drug discovery and development by combining its internal expertise with the leading drug discovery platform of Evotec EOAI and the research excellence of renowned pre-clinical and clinical partners.

Evotec NeuroSciences has raised total financing of approximately €25 million. The consortium of investors was led by TVM Techno Venture Management and co-led by 3i and MVM. Ventech, Star Ventures as well as undisclosed private individuals participated as co-investors in the round, which is expected to be one of the largest first rounds of financing in European biotech in 2004.

Advisors to TVM: Dr. Frank Vogel, Dr. Jan Dirk Heerma (SJ Berwin); David Pierson, Earl Mellott (Foley Hoag).

Advisors to Evotec: Christian von Spiegel (in house); Dr. Christoph Seibt (Freshfields); Lawrence Wittenberg (Testa, Hurwitz & Thibeault).

Advisors to 3i: Jason Cole (Ropes & Gray).