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Signature Diagnostics raised 5.1 mio Euro in a Series C financing round


Press Release

Potsdam: August 12, 2008. Signature Diagnostics announced today the closing of a 5.1 million EURO series C financing round involving four financial investors from Germany and most of the existing A round investors.

The series C round was led by the VRP Venture Capital Rheinland Pfalz GmbH & Co.KG II which is managed by EVP Capital Management AG (Frankfurt/a.M.). The other three investors include the KfW (Bonn), the IBG Risikokapitalfonds I GmbH & Co.KG (Magdeburg) managed by Goodvent Beteiligungsmanagement GmbH & Co.KG, and the BFB BeteiligungsFonds Brandenburg GmbH (Potsdam) managed by BC Brandenburg Capital GmbH. In addition, the existing business angel investors and the strategic investor OncoMethylome Sciences S.A. participated in the series C financing round.

The closing of the series C financing round only six months after the completion of a series B financing round with OncoMethylome Sciences S.A. in January 2008 shows that Signature is in a significant growth phase and aims to further develop its predictive diagnostic products in colorectal cancer. In addition, the new funds will allow Signature to broaden its capacities for large, multi-centre prospective clinical trials in colorectal cancer, non-small-cell lung cancer, and ovarian cancer. Furthermore, Signature together with OncoMethylome Sciences S.A. also has initiated a large prospective multi-centre trial in early detection (screening) of colorectal cancer.

“Combining molecular diagnostic product development with our large tumour tissues/blood resources that are connected with high quality clinical data will allow Signature Diagnostics to stay at the forefront of molecular cancer diagnostics in Europe”, commented Prof. Dr. André Rosenthal, CEO of Signature Diagnostics. “We will also use the additional funds to open two new offices in Mainz and Magdeburg”.

Dr. Farsin Yadegardjam, Managing Partner at EVP Capital Management, said “Our investment decision was driven by the impressive technological development Signature has shown in the past as well as by the experience and personalities of Prof. Rosenthal and his team. The business model is very sound for a company in this stage of its development. We anticipate that Signature has the potential to demonstrate significant growth in the exciting field of predictive cancer diagnostics.”

For the series C investors the legal advisor was CMS Hasche Sigle, Frankfurt/Berlin, and for Signature Mayer Brown LLP, Berlin.

For further information, please contact:

Signature Diagnostics AG

Prof. Dr. André Rosenthal
Phone: 49-331-6207575
andre.rosenthal@signature-diagnostics.de

EVP Capital Management AG

CEO Dr. Farsin Yadegardjam
Phone: 49-69-4032597-0
f.yadegardjam@evp-capital.com

About Signature Diagnostics
Signature Diagnostics (www.signature-diagnostics.de) is dedicated to the discovery, validation and commercial development of novel diagnostic products that predict outcome and drug response in patients with colorectal cancer (CRC), non-small cell lung cancer (NSCLC) and ovarian cancer.

Signature believes that patient selection and stratification based on molecular gene signatures will soon become an important component of routine cancer treatment. Signature sponsors and executes large prospective multicentre trials in CRC, NSCLC, and early detection (screening) of CRC involving several thousand of patients according to ICH standards. Signature aims to improve the quality of decision making in cancer treatment and patient care. Based in Potsdam, Germany, Signature was founded in 2004.

About EVP Capital Management AG, Frankfurt a.M
EVP Capital Management AG, formerly equinet Venture Partners AG, was established in 2008 through the MBO of the two partners Dr. Thomas Hoch and Dr. Farsin Yadegardjam. With a total fund volume of close to one hundred million EURO EVP Capital invests in fast-growing technology companies in the ITC and life sciences fields. The current life science portfolio includes GENEART AG and Nanogate AG, both listed in Frankfurt, as well as EUROIMMUN AG, Phenex Pharmaceuticals AG and Galantos Pharmaceuticals GmbH.

About Goodvent Beteiligungsmanagment GmbH & Co KG, Magdeburg
Goodvent Beteiligungsmanagement GmbH Co.KG was established in 2007 and is directed by CEO Dr. von der Osten. Operationally, it is fully responsible for all existing and future investments of IBG Beteiligungsgesellschaft mbH. IBG funds are invested in early stage high-tech companies in the fields of biotechnology, nanotechnology, advanced mechanical engineering and environmental technologies, and that are located in the State of Saxony-Anhalt and adjacent regions. The Portfolio includes approximately 70 investments with an invested volume of 200 million EURO. Further information is available at www.goodvent.de.

About BC Brandenburg Capital GmbH, Potsdam
As a management and holding company BC Brandenburg Capital GmbH operates five funds with a total volume of 140 million EUR. The fund BFB BeteiligungsFonds Brandenburg GmbH, which invested in Signature Diagnostics, focuses on ICT, nanotechnology, life sciences, microelectronics, and invests in small and medium sized companies (SME´s) that are located in the State of Brandenburg. Further information is available at www.bc-capital.de.

KfW, Bonn
KfW Bankengruppe is a public law institution and gives impulses for the economy, society and ecology in Germany, Europe and the world over. KfW Bankengruppe, especially the KfW Mittelstandsbank, is one of Germany’s major investors in the start-up and early stage segment. Here the most important programs are the ERP Startfonds and the High-Tech Gründerfonds. In 2007 the ERP-Startfonds approved 111 investments comprising 54.4 million EURO. In the same year the High-Tech Gründerfonds approved 54 investments with a volume of 25.7 million EURO. Further information is available at www.KfW.de.


Publisher Contact Information:

EVP Capital Management (formerly equinet)
49-69-4032597-0
f.yadegardjam@evp-capital.com

Company profile of EVP Capital Management (formerly equinet)
Past press releases of EVP Capital Management (formerly equinet).

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