DGAP-News: Edmond de Rothschild Investment Partners / Key word(s): Investment EDMOND DE ROTHSCHILD INVESTMENT PARTNERS SELLS ITS POSITION IN COVAGEN AG TO JANSSEN AFFILIATE CILAG GMBH INTERNATIONAL, A JOHNSON & JOHNSON COMPANY 25.08.2014 / 15:15
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EDMOND DE ROTHSCHILD INVESTMENT PARTNERS SELLS ITS POSITION IN COVAGEN AG TO JANSSEN AFFILIATE CILAG GMBH INTERNATIONAL, A JOHNSON & JOHNSON COMPANY This operation is the fifth trade sale of BioDiscovery 3, the thirteenth from BioDiscovery fund Edmond De Rothschild Investment Partners (EdRIP) announced today that a BioDiscovery 3 portfolio company, Covagen A.G., has been acquired by Cilag GmbH International, an affiliate of the Janssen Pharmaceutical Company which belongs to the Johnson & Johnson Family of Companies. Covagen is a privately-held, biopharmaceutical company specializing in the development of multispecific protein therapeutics through the FynomAb(R) technology platform. The company's lead product, COVA322, a bispecific anti-tumor necrosis factor (TNF)-alpha/anti-interleukin (IL)-17A FynomAb is in Phase 1b study for psoriasis and holds potential as a treatment for a broad range of inflammatory diseases including rheumatoid arthritis. Covagen develops FynomAbs, multi-specific protein therapeutics by fusing its fully human Fynomer binding proteins to antibodies. Fynomers are small binding proteins engineered to bind to target molecules with the same affinity and specificity as antibodies. The tailored architecture and novel mode of action of FynomAb therapeutics may offer enhanced efficacy in the treatment of inflammatory diseases and other indications. "A few years back we decided to invest in Covagen based on the quality of the team and the versatility and flexibility of their Fynomer technology. Since then, impressive progress has been made and today we are very proud to see a highly respected partner taking over the development of the lead product and the FynomAb platform. After achieving a high investment multiple, we are looking forward to seeing them translate all this potential into next-generation products that can improve patient outcomes," said Gilles Nobécourt, Partner at Edmond de Rothschild Investment Partners. Covagen was the eighth investment of BioDiscovery 3, a specialized life science investment fund managed by EdRIP. Raised in 2008, the Fund has invested from 2008 to 2012 in a portfolio of 14 companies. So far five of these companies have been sold through private transactions and two have been listed on public financial markets. About Edmond de Rothschild Investment Partners Edmond de Rothschild Investment Partners is the private equity affiliate of the Edmond de Rothschild Group, which is specialized in asset management and private banking (EUR 133.6bn under management, nearly 2,800 employees spread across 31 offices, branches and subsidiaries throughout the world). Founded in 1953, the Group has been chaired since 1997 by Baron Benjamin de Rothschild. Paris-based Edmond de Rothschild Investment Partners is dedicated to minority investments into privately-owned companies. It currently has more than EUR1 billion under management which is being invested primarily as life sciences venture capital and growth capital. Within Edmond de Rothschild Investment Partners, its Life Sciences Team of eight professionals brings together over 60 years of experience in the Life Science industry and more than 100 years of private equity and venture capital experience. The Team has raised EUR450 million through its Biodiscovery franchise and is currently investing BioDiscovery 4. Since inception, BioDiscovery Funds have invested in 49 companies, of which 13 have been sold and 12 listed on public financial markets. 19 are still active in the portfolios. BioDiscovery Funds, including BioDiscovery 4, are venture capital funds dedicated to professional investors. These funds are not authorized by the Autorité des Marchés Financiers and may adopt special investment rules. For more information : www.edrip.fr Contacts Edmond de Rothschild Investment Partners Gilles Nobécourt g.nobecourt@edr.com Tel: +33 1 40 17 27 69
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25.08.2014 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de
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EDMOND DE ROTHSCHILD INVESTMENT PARTNERS SELLS ITS POSITION IN COVAGEN AG TO JANSSEN AFFILIATE CILAG GMBH INTERNATIONAL, A JOHNSON & JOHNSON COMPANY This operation is the fifth trade sale of BioDiscovery 3, the thirteenth from BioDiscovery fund Edmond De Rothschild Investment Partners (EdRIP) announced today that a BioDiscovery 3 portfolio company, Covagen A.G., has been acquired by Cilag GmbH International, an affiliate of the Janssen Pharmaceutical Company which belongs to the Johnson & Johnson Family of Companies. Covagen is a privately-held, biopharmaceutical company specializing in the development of multispecific protein therapeutics through the FynomAb(R) technology platform. The company's lead product, COVA322, a bispecific anti-tumor necrosis factor (TNF)-alpha/anti-interleukin (IL)-17A FynomAb is in Phase 1b study for psoriasis and holds potential as a treatment for a broad range of inflammatory diseases including rheumatoid arthritis. Covagen develops FynomAbs, multi-specific protein therapeutics by fusing its fully human Fynomer binding proteins to antibodies. Fynomers are small binding proteins engineered to bind to target molecules with the same affinity and specificity as antibodies. The tailored architecture and novel mode of action of FynomAb therapeutics may offer enhanced efficacy in the treatment of inflammatory diseases and other indications. "A few years back we decided to invest in Covagen based on the quality of the team and the versatility and flexibility of their Fynomer technology. Since then, impressive progress has been made and today we are very proud to see a highly respected partner taking over the development of the lead product and the FynomAb platform. After achieving a high investment multiple, we are looking forward to seeing them translate all this potential into next-generation products that can improve patient outcomes," said Gilles Nobécourt, Partner at Edmond de Rothschild Investment Partners. Covagen was the eighth investment of BioDiscovery 3, a specialized life science investment fund managed by EdRIP. Raised in 2008, the Fund has invested from 2008 to 2012 in a portfolio of 14 companies. So far five of these companies have been sold through private transactions and two have been listed on public financial markets. About Edmond de Rothschild Investment Partners Edmond de Rothschild Investment Partners is the private equity affiliate of the Edmond de Rothschild Group, which is specialized in asset management and private banking (EUR 133.6bn under management, nearly 2,800 employees spread across 31 offices, branches and subsidiaries throughout the world). Founded in 1953, the Group has been chaired since 1997 by Baron Benjamin de Rothschild. Paris-based Edmond de Rothschild Investment Partners is dedicated to minority investments into privately-owned companies. It currently has more than EUR1 billion under management which is being invested primarily as life sciences venture capital and growth capital. Within Edmond de Rothschild Investment Partners, its Life Sciences Team of eight professionals brings together over 60 years of experience in the Life Science industry and more than 100 years of private equity and venture capital experience. The Team has raised EUR450 million through its Biodiscovery franchise and is currently investing BioDiscovery 4. Since inception, BioDiscovery Funds have invested in 49 companies, of which 13 have been sold and 12 listed on public financial markets. 19 are still active in the portfolios. BioDiscovery Funds, including BioDiscovery 4, are venture capital funds dedicated to professional investors. These funds are not authorized by the Autorité des Marchés Financiers and may adopt special investment rules. For more information : www.edrip.fr Contacts Edmond de Rothschild Investment Partners Gilles Nobécourt g.nobecourt@edr.com Tel: +33 1 40 17 27 69
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25.08.2014 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de
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283775 25.08.2014
