LSP announces acquisition of portfolio company U3 Pharma AG

Munich and Amsterdam, May 21, 2008 — LSP announced today that it has entered into an agreement with Daiichi Sankyo Co. Ltd. for Daiichi Sankyo to acquire LSP portfolio company, U3 Pharma AG, a German biotechnology company focusing on research into antibodies for the treatment of cancer.

Daiichi Sankyo will purchase 100% of the stock and make a one-time payment of 150 million Euros ($235 million dollars) for the company. Closure of the transaction is subject to clearance under the Hart-Scott-Rodino Antitrust Improvements Act and customary closing conditions.

U3 Pharma, which is based in Martinsried, Germany, was founded by Professor Axel Ullrich of the Max Planck Institute, whose pioneering gene technology-based and oncology-focused research led to the development of the oncology blockbusters Herceptin® and Sutent™*. U3 Pharma was established in 2001 and currently employs 27 people, the majority of whom work directly in research and development.

LSP led U3 Pharma’s most recent round of financing in May 2006. This financing included, among other parties, Alta Partners, Atlas Venture, E. de Rothschild Investment Partners, Karsten Henco as well as private individuals from the biotech and pharmaceutical industry.

Dr Joachim Rothe, General Partner of LSP, and a director of U3 Pharma, states that “this transaction is great for all stakeholders in U3, and for Daiichi Sankyo as the new owner. It provides further proof of the attractiveness of assets derived from German academia and developed by experienced management and VCs, and it is a new validation of LSP´s long-term strategy of embracing those exciting opportunities.”

*Herceptin® is a trademark of Genentech, Inc., Sutent™ is a trademark of Pfizer, Inc.

About LSP
LSP (Life Sciences Partners) is a leading independent European venture capital firm, providing private equity financing to early- to mid-stage life-science companies. Since the late 1980s, LSP's management has invested in a large number of highly innovative enterprises, many of which have grown to become leaders of the global life-science industry. For example, LSP was a founding investor in Crucell, DNage, Qiagen, Rhein Biotech and Pharming. With EUR 400 million under management and offices in Amsterdam, Munich and Boston, LSP is one of Europe's largest and most experienced specialist life-science investors.

For more information, please contact:

Dr. Joachim Rothe at +49 (0) 89 3306660 or via jrothe@lspvc.com.

Publisher Contact Information:

Life Sciences Partners (LSP)
+49 (0) 89 3306660
jrothe@lspvc.com

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