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BAC secures €1.5 M Series B R&D financing for affinity products


Naarden, The Netherlands, 9th September 2008 – BAC BV, the Bio Affinity Company, announced today that it has secured a further €1.5 million investment from its existing investors to accelerate the development of BAC’s affinity product pipeline.

All the investors in BAC’s original investor syndicate, which includes Unilever Ventures, the venture capital arm of Unilever, and FF&P Private Equity, the private equity arm of London-based multi-family office Fleming Family & Partners, have subscribed to this financing round. The funds will be used to expand BAC’s proprietary pipeline of multi-customer biopharma purification ligands, and to increase its portfolio of immobilized purification products, which are available via the BAC web-shop and already includes the successful Antibody Toolbox range.

“The funds raised from our investors, who have all participated in this round, show their continuing support of our expertise in developing novel products for purifying biopharmaceuticals,” said Dr. Laurens Sierkstra, CEO of BAC. “From the successful launch of our Biopharmaceutical purification products and our customized media projects for major pharmaceuticals, we are convinced that the timing is right to broaden our product pipeline.”

Andrew Lane, a director of Unilever Ventures, said: “We are very pleased with BAC’s accomplishments to date providing clear validation that BAC is a leader in the discovery and development of novel products for biopharmaceutical purification. Recent product launches in collaboration with GE Healthcare as well as custom development programmes with the likes of Hematech, sanofi pasteur, Octapharma and LFB Biotechnologies have confirmed the significant market opportunity and demand for CaptureSelect®. The timing is now right to further expand BAC’s product pipeline to fully capture the potential of this unique ligand technology. I am confident that BAC has an excellent future.”

”We are impressed that BAC’s CaptureSelect® ligand technology has generated so much interest both in the life sciences research market and in Biomanufacturing,” said Johan van Zyl, Investment Manager at FF&P Private Equity. ”BAC is very well positioned to capitalize on the tremendous growth in biopharmaceuticals given its strong team, market expertise and patented technology. We are pleased by the progress made to date and look forward to continue working with BAC's talented Management Board, experienced Supervisory Board and our fellow investors to further build a business of significant value.”

BAC has recently relocated its R&D laboratories to the BioPartner Center Leiden, residing in the Bioscience Park of Leiden, The Netherlands.


-Ends-

About BAC

BAC BV – the Bio Affinity Company – offers a wide range of products and services for affinity purification of biological materials from complex media. The Company’s proprietary CaptureSelect® affinity ligands, based on Camelid single chain antibody fragments, have been proven to be suitable in a wide range of biological applications including Life Science Research and Biomanufacturing.

CaptureSelect® ligand technology is based on selection of single chain antibody fragments with desirable chromatographic characteristics including robustness, high specificity and flexibility. Suitable ligands are cloned and expressed in high-titers through an animal-free Saccharomyces cerevisiae-based process.

BAC BV was established in 1995 as a Unilever subsidiary. Currently the Company employs 35 people with an R&D laboratory facility in Leiden and a state-of-the-art ISO 9001 certified manufacturing plant in Naarden, the Netherlands. For more information about BAC, visit our website at www.bac.nl. For more information about CaptureSelect® products, visit our website at www.captureselect.com


About Unilever Ventures Limited

Formed in 2002 and backed by the Unilever group, Unilever Ventures is a venture capital firm providing funding and development skills to start-up and early stage businesses with high growth ambitions. Having initially focused on start-up investment, Unilever Ventures now considers later stage investment, including expansion-led capital and management buyouts with an enterprise value of up to €50m.

Drawn from within Unilever and the private equity sector, Unilever Ventures’ London-based team has so far invested in around 20 businesses, mainly in the UK and the Netherlands. Technology spin-outs from the Unilever Group comprise a significant part of its portfolio, leveraging Unilever’s scientific expertise into different industries. Unilever Ventures also focuses on consumer-facing businesses in Europe where it can draw upon the Unilever Group’s expertise in Food and Home & Personal Care products and services.

For further information on Unilever Ventures please call +44 (0)20 7321 6199 or visit www.unileverventures.com.

About FF&P Private Equity Limited

FF&P Private Equity (“FPE”) is a wholly owned subsidiary of Fleming Family & Partners Limited (FF&P”), the multi-family investment office founded by the Fleming family in August 2000 following the sale of its investment management and banking group, Robert Fleming, to Chase Manhattan. Since its formation, FF&P has grown assets under management from US$2 billion to over US$8 billion. The Group is headquartered in London and has offices in Zurich, Moscow, Liechtenstein, Singapore and Hong Kong.

FPE has approximately £250m of funds under discretionary management and typically invests £5 – 25 million of equity per new transaction in growth companies and situations where FF&P and its extensive network can add value.

For further information on FF&P Private Equity, please visit www.ffandppe.com.


Media enquiries:

Kathryn Robertson, College Hill
Kathryn.Robertson@collegehill.com
Tel: +44 (0)1260 296 506


Publisher Contact Information:

College Hill
+44 (0)1260 296 506
Kathryn.Robertson@collegehill.com

Company profile of Bio Affinity Company (BAC) (acquired by Life Technologies)
Past press releases of Bio Affinity Company (BAC) (acquired by Life Technologies).

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