TVM Capital, a major shareholder of Curacyte AG, is pleased that
Curacyte Discovery GmbH, a wholly owned subsidiary of Curacyte AG has
been acquired by The Medicines Company (NASDAQ: MDCO) with the intent to
further develop the compound CU-2010 for the prevention of blood loss
during surgery. This development will continue in Leipzig, Germany.
Curacyte AG has received a payment of € 14.5
million ($22.8 m) and will be eligible to receive additional payments
when The Medicines Company reaches Phase II clinical development of
CU-2010, future commercial milestones, and associated royalty payments.
Proceeds from this transaction will be used to further develop the
company’s lead product Hemoximer
(Pyridoxalated Hemoglobin Polyoxyethylene, PHP) in a Phase III pivotal
trial in patients suffering from catecholamine-resistant distributive
shock.
“We are proud that we have been involved with
building a biotechnology company with strong enough science and
development projects to be acquired by a leading US public company. We
are also pleased that the team in Leipzig will be able to continue its
work with the new ownership. ,” said TVM
Capital Life Science Managing Partner, Dr. Helmut M. Schühsler.
“We are looking forward to our continued
partnership with Curacyte AG as the company develops its lead product,
Hemoximer.”
TVM Capital initially invested in Curacyte AG in 2000 and has
participated in the subsequent rounds of financing to support the company’s
compound development efforts.
About TVM Capital
TVM Capital, 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 Capital has raised more than €1.3
billion ($1.6 billion) in six fund generations and has established
itself as a leading investment group in Europe and the US. TVM Capital
funds have made investments in more than 235 in life science and
information technology companies where innovation, effective management
and sound financial backing have enormous impact on company growth.
The firm’s in-depth knowledge of the European
and US environment helps companies create businesses that enjoy access
to science, management talent, distribution channels and capital on both
sides of the Atlantic. More than 50 companies from its portfolio have
gone public on European and U.S. stock exchanges.
