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SHS III fund reaches first closing


• EUR 40 million for young growth companies
• Total of EUR 70 million targeted by the end of 2008
• Investor group drawn from institutions, experienced entrepreneurs and industry experts
• Focus on life sciences and healthcare

Tübingen, April 9, 2008 – By first closing, the third fund set up by Tübingen-based SHS Gesellschaft für Beteiligungsmanagement has raised EUR 40 million from investors in Germany and across Europe. The fund is geared to financing young, innovative companies operating in the fields of life sciences and healthcare. Numbered among the investors are the European Investment Fund (EIF), through which the SHS fund has received support from the European Recovery Programme (ERP)-EIF Dachfonds and the Competitiveness and Innovation Framework Programme (CIP) set up by the European Union, the Kreditanstalt für Wiederaufbau (KfW), a pension fund, fund of funds as well as various entrepreneurs, family offices and the SHS management team. The contribution by the SHS team themselves is exceptionally high: Instead of the usual one percent, SHS intends to subscribe for a comparatively high five percent of the fund volume by first closing.

Following its successful first closing, SHS expects to close off its SHS III fund with a volume of EUR 70 million by the end of 2008. In common with its predecessor funds, the SHS III fund will invest in attractive undertakings with marketable products in the field of life sciences. With interests in companies such as VITA 34, Probiogen and Novosis, SHS is well-known as a specialist in the development of young, innovative life science enterprises. The new fund is already engaged in intensive discussions with the first potential candidates in its target sectors.

“We are delighted to report first closing of our new fund despite the recent upheavals on the capital markets. This willingness to invest demonstrates the confidence that investors have in the growth potential of innovative young companies in Germany, Austria and Switzerland, as well as the attraction of the venture capital industry relative to other investments,” said Bernhard Schirmers, a partner in SHS Gesellschaft für Beteiligungsmanagement.

SHS intends to invest its fund in fields which offer rapid and substantial growth opportunities for young, innovative companies. This will particularly include medical technology and supplies, diagnostics and platform and production technologies. SHS invests exclusively in undertakings with marketable products and technologies. The experienced SHS team not only contributes capital but also management expertise and capacity to its portfolio companies in order to underpin development and expansion.

The investment strategy pursued by SHS Gesellschaft für Beteiligungsmanagement has already proven its worth in the pattern set by the predecessor funds, which despite market weaknesses in some areas have nevertheless achieved well above average returns. In the past year for example, SHS was instrumental in floating the umbilical cord blood bank VITA 34 on the stock market. SHS was a co-founder of the company and provided intensive support through to floatation. Another SHS protégé, Novosis AG based in Miesbach, is now due to be sold in its entirety to a new strategic investor, the Schweizerhall Group. Other prominent SHS portfolio companies include ProBioGen AG, CryLaS AG and Askion GmbH.

About SHS Gesellschaft für Beteiligungsmanagement mbH

SHS Gesellschaft für Beteiligungsmanagement, established in Tübingen in 1993, specializes in financing and advising young companies in future-oriented sectors, especially health care and life sciences. Through the medium of equity funds, SHS has around EUR 120 million in investment capital under management to date. The principal shareholders are former McKinsey consultants Bernhard Schirmers and Reinhilde Spatscheck, and Hubertus Leonhardt who was previously a corporate finance project manager with Arthur And

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Company profile of SHS Gesellschaft für Beteiligungsmanagement
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