Forbion Capital Partners, the leading Dutch VC firm investing in world-class healthcare technologies announces the sale of its portfolio company, Santaris Pharma A/S for a total consideration of up to $ 450 million, of which an upfront cash payment of $250 million and additional contingent payments of up to $200 million based on the achievement of certain predetermined milestones.
Forbion Capital Partners, the leading Dutch VC firm investing in world-class healthcare technologies announces the sale of its portfolio company, Santaris Pharma A/S for a total consideration of up to $ 450 million, of which an upfront cash payment of $250 million and additional contingent payments of up to $200 million based on the achievement of certain predetermined milestones.
“The Santaris investment story exemplifies Forbion’s ability to select new potential disruptive platform technologies at an early stage, which drive a clear medical break-through. This deal for Santaris further extends Forbion’s solid track record.”
Santaris, a privately held biopharmaceutical company based near Copenhagen, Denmark, has pioneered its proprietary Locked Nucleic Acid (LNA) platform that has contributed to an emerging era of RNA-targeting therapeutics. This new class of medicines has the potential to address difficult to treat diseases in a range of therapeutic areas.
The acquisition, which is subject to customary closing conditions, is expected to close in August 2014. Roche plans to maintain Santaris Pharma’s operations in Denmark, where the existing site will be renamed Roche Innovation Center Copenhagen.
“Forbion recognized that Santaris’ LNA chemistries were the best in class antisense technology when the firm led the recapitalization of the Company in 2006,”
said Martien van Osch, Managing Partner at Forbion and board member of Santaris Pharma.
“Forbion has been a strong proponent of the Company ever since, working closely with the management to promote the significant therapeutic potential of this new class of drugs.
He added,
“The Santaris investment story exemplifies Forbion’s ability to select new potential disruptive platform technologies at an early stage, which drive a clear medical break-through. This deal for Santaris further extends Forbion’s solid track record.”
Examples of other recent exits by portfolio companies that demonstrate the maturity of Forbion as a firm and its portfolio include:
- IPO of arGEN-X at Brussels Euronext – Forbion was the lead investor in the Series A round
- IPO of Argos Pharmaceuticals (ARGS) at Nasdaq – Forbion was the lead investor in the Series D round
- IPO of UniQure (QURE) at Nasdaq – Forbion were founders of the company and the largest shareholder at the time of the IPO
- CircuLite. Inc. sold to Heartware (HTWR) - Forbion were founders of the company and lead investor since 2004 as well as most significant investor at the time of exit,
- IPO of bluebird bio (BLUE) at Nasdaq – Forbion was one of its founding investors since the Series A restart in 2004 with Forbion partner Geert-Jan Mulder as Chairman of the company
- Transave to Insmed, Inc (INSM) in a reversed merger – Forbion co-led its Series B financing round
- BioVex sold to Amgen - exit value of up to USD 1 billion. Forbion was the largest investor as well as lead investor since 2005
Since inception, Forbion has launched two main funds, two Co-Investment funds, and two JV funds with BioGeneration Ventures. As a result, Forbion currently manages well over EUR 450 million in assets. Most recently, Forbion has announced raising a new main fund, Forbion Capital Fund III, which targets investments in drug-, device- and diagnostics companies that develop tomorrow’s technologies and products that will greatly improve the quality of patients’ lives.