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TVM Raises $290.8 Million (EUR 240.3 Million) for TVM Life Science
Ventures VI; Fund to Focus on Biotech and Biopharmaceutical
Investment Opportunities in the U.S. and Europe
10/5/2005 6:00:00 AM EST

TVM, one of the leading life sciences and information technology
venture capital firms in Europe and the United States, today
announced the closing of its latest life sciences fund, TVM Life
Science Ventures VI (TVM LSV VI). Committed capital totaled $290.8
million (EUR 240.3 million) and was raised from a broad mix of
investors, including lead investors European Investment Fund (ERP-
EIF Fund of Funds) and AlpInvest. About 20 other investors from
Europe, the United States and Asia have invested in the new TVM
fund, including KfWBankengruppe (Germany), Skandia Liv Asset
Management (Sweden); Temasek Holdings Pte Ltd. (Singapore);
Development Fund, Taiwan government's economic investment catalyst;
and Quintiles Transnational Corp., the world's largest
pharmaceutical services organization. Genzyme Corporation, and
Biogen Idec, two of the most prominent global biotech companies
headquartered in the U.S., also invested in TVM LSV VI.

As with its previous funds, TVM LSV VI will maintain a strong
emphasis on investments in the fields of drug discovery and
development and will fund both early and late stage companies in the
U.S. and Europe. The percentage of early and late stage companies
will be market-driven, as TVM seeks to fund the best deals on both
continents.

The first two investments in the fund will be Newron Pharmaceuticals
SpA and elbion AG. Newron Pharmaceuticals is a Milan-based spin-out
of Pharmacia Upjohn, a late stage company engaged in the discovery
and development of innovative CNS compounds in the area of
neuroprotection, neurodegeneration and pain. Newron is currently in
phase III clinical development in Parkinson's Disease and in phase
II in neuropathic pain. elbion, located in Radebeul, Germany, is a
developer of small molecule therapeutics, and TVM is investing in
the company as part of the company's recently closed EUR 35 million
financing.

"The high quality of the investors in this fund is a testament to
TVM's strong track record of identifying promising life sciences
companies and supplying them with access to the scientific, capital
and management resources critical for success," said Dr. Helmut M.
Schuehsler, Managing Partner of TVM's Life Sciences practice. "One
of our strategic goals is to build a larger presence in the U.S.
biotech industry, as well as the emerging Asian market. Investments
from Biogen Idec, Genzyme, Quintiles and the first European
investment of Taiwan's Executive Yuan's Development Fund will help
us to intensify our access to the important U.S. biotech market and
to emerging markets in Asia."

While it is important to continue financing and developing existing
companies with advanced products to establish a top group of
successful and internationally competitive firms in this sector, TVM
also continues to see a great opportunity in early stage investing.
Currently, valuations for biotech firms are favorable for new
investors, enabling TVM to take a significant ownership position and
actively participate in the development of its portfolio companies.
As pharmaceutical giants increasingly look to biotechs to enhance
their product pipelines, effective value enhancements of start-up
companies with innovative products is becoming a more consistent
reality. TVM's four-to-seven year investment time horizon and active
participation in strategy and management gives its portfolio
companies the best chance to capitalize on this opportunity.

About TVM

TVM, founded in 1983, is one of the first venture capital firms
formed in Germany, and an early entrant into the U.S. market in
1986. Since inception TVM has raised more than EUR 1.4 billion in
six fund generations and has established itself as a leading
technology investment group in Europe and the United States. TVM
funds have made investments in more than 220 information life
science and technology companies where innovation, effective
management and sound financial backing have enormous impact on
company growth. The in-depth knowledge at TVM of the European and
U.S. environment helps companies create businesses that enjoy access
to science, management talent, distribution channels and capital on
both sides of the Atlantic. More than 40 TVM companies went public
at European or US stock exchanges. Today, TVM is actively invested
in more than 70 companies. For more information please visit
www.tvmvc.com

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