• About us
  • Management Team
  • Advisory Board
  • Investors
• Business
  • Markets
  • Partners
• Technology
  • Discovery
  • Library Generation
  • Assay Development & Screening
    • Confocal Fluorimetry
  • Intellectual Property
• Applications
  • Protein Engineering
    • Protease
  • Strain Development
    • Developing a Lactic acid strain
  • Process Development
    • Fermentation
    • Downstream Processing
• Products
  • Mannanase
    • Animal Feed
    • Food processing
  • Cellulases
    • Hydrolysis od Spruce
• Press Room
  • Events
  • Publications
• Career
  • Scientist Chemistry (m/f)
• Contact
  • Map
  • Directions

18 October 2007

DIREVO raises Euro 12 Million (USD 16.8 Million) in Series C Financing

DIREVO Biotech AG, a leading company for superior bioengineered products and processes for industrial and pharmaceutical applications, announced today the completion of a private Series C equity financing. Direvo raised EUR 12 million (USD 16.8 million). In addition, certain Series C investors acquired all common shares held by the company's founders, such as Evotec AG and former management.

Bankhaus Wölbern, Hamburg and TVM Capital, Munich jointly led this financing round. NRW.BANK, Düsseldorf/Münster, joined with its venture capital funds as additional new investor in this round. All previous institutional investors such as Danisco Venture A/S, Copenhagen, S-Equity Partner, Cologne, Mulligan BioCapital, Hamburg and funds managed by New York based Signet Healthcare Partners, an affiliate of Sanders Morris Harris, as well as private investors such as Nobel laureate Prof. Manfred Eigen, Prof. Detlef Riesner, Prof. Heinrich M. Schulte, Dr. Ruthild Winkler-Oswatitsch and management participated in the financing.

Direvo intends to use the proceeds to fund further own product developments in the field of Industrial Biotechnology, its collaboration and research programs in therapeutic proteases and antibodies, as well as for the enhancement of technical capabilities in the field of production process development and biodiversity.

“We are very pleased with the closing of our Series C financing as it will accelerate the growth of the company,” stated Dr. Thomas von Rüden, CEO of Direvo, and added: “It also demonstrates our shareholder's strong confidence in the company's strategy and management”.

Dr. Eric Hirsch of Bankhaus Wölbern stated: “We have followed Direvo for many years and came to the conclusion that this company is among the most promising new generation protein engineering companies in Europe. We look forward to working closely with Direvo’s experienced management team to build the business for success”.

“This new infusion of capital by an international syndicate of reputable institutional and private investors is a strong vote of confidence for the Direvo platform. We are convinced that this investor view will be confirmed by a growing number of high value commercial partnerships in the coming years” said Dr. Hubert Birner, Chairman of Direvo’s Supervisory Board and General Partner at TVM Capital, Munich.

- end -

print page