Bavarian Biotech Report 2011/2012 (7MB) - Bio M
Bavarian Biotech Report 2011/2012 (7MB) - Bio M Bavarian Biotech Report 2011/2012 (7MB) - Bio M
M&A-ActivityIn early 2011 the acquisition of GENEART, Regenburg,trough the Life Tech Corporation was finalized. TheRegensburg site maintains as specific center of competencein synthetic biotechnology and brand-name withinthe Life Tech group. Later in 2011 the more than 200employees of GENEART moved to the third new buildingof BioPark Regensburg.Another takeover hit a traditional bavarian chemicalcompany, Süd-Chemie AG. Clariant AG, Switzerland,acquired the controlling majority in Süd-Chemie AG andfinalized this procedure in late 2011; the total value of thetransaction was about € 2.0 billion. Süd-Chemie is – alsoin future - an important partner in the Bavarian networkof industrial biotechnology, having advanced projects inproducing bio-fuel from straw. The demonstration plantwas just set up in Straubing by the end of 2011.During the year 2011 two companies within the BavarianBiotech Cluster were sold to other Biotech companieswith a total deal volume of more than € 30 million. InFebruary 2011, Evotec decided to acquire all shares ofKINAXO Biotechnologies, Martinsried. This acquisitionwill complete Evotec’s leading position as a fully integrateddrug discovery and early drug development partner.The company Kinaxo Biotechnologies has now transformedits name into Evotec Munich AG and will increaseits working force in Martinsried. The second M&A dealwas announced by FEI and Till Photonics. FEI, a leadinginstrumentation company was successful in acquiringTILL Photonics, a Munich based company which developshigh resolution, digital light microscopes and imagingsystems.FinancingThe external financing situation for Biotech companies isstill very sobering. Especially for drug developmentcompanies, the financing gap in early stage developmentup to clinical phase II increases. New financing modelshave been sprout out during the last year 2011. Onlyabout € 70 million million in total have been invested bypublic and private investors within the Bavarian Biotechcompanies. In comparison to the year 2010, the totalamount of follow-on, venture capital investments anddebt financing dropped down by 76%, in a five yearoverview, it represents a reduction by 70%.Venture Capital has decreased dramatically during theyear 2010 with € 49 million, the total sum of venturecapital reduced to the amount of € 28.35 million. Thismeans a reduction by 42% compared to last year and atotal reduction by 63% within 5 years.One of the biggest financing rounds within the BavarianBiotech Cluster has been announced by AMsilk GmbH(Martinsried). The company revealed the closing of theirB-financing round. The investors MIG Fonds 6, MIGFonds 7 und MIG Fonds 11 as well as AT Newtec haveprovided € 5 million for the further commercialization ofAMsilk’s key technology. In addition, the MIG Fonds,together with Global Asset Fund also invested € 8 millionfor Antisense Pharma in Series E round.Furthermore, LipoFIT Analytic GmbH (Regensburg) raised€ 7 million in a second round of financing, which will besupported by SHS Gesellschaft, KfW Bankengruppe,Bayern Kapital and private investors to strengthenLipoFIT’s core business area of human diagnostics,biogas and plant analytics.Regarding the public capital market, especially follow-oninvestments decreased by 81% to € 39.24 million comparedto € 210 million the year before. Only two companies4SC AG (Martinsried) and Agennix AG (München /Heidelberg) completed their capital increases. In February2011, 4 SC AG (Martinsried) has gathered grossproceeds of approximately € 11,74 million and placed3,452,647 new shares at a price of € 3,40 per share.In addition, Agennix AG (Munich/Heidelberg) hassuccessfully finished their rights offering andplaced 9,319,504 new no-par value bearershares to shareholders. The companycollected approximately € 11,3 million incash and approximately € 16,2 millionfrom the conversion to equity of anexisting loan plus interest. The contributionin kind was partly done bycompany’s major shareholder,dievini Hopp BioTech holdingGmbH & Co.KG.24
But there’s some more good news too: The financing gaphas been partly covered by alternative financing sources.In comparison to the decreasing public and privatecapital situation, the deal volume for licensing, commercializationand M&A reached an all-time-high. All BavarianBiotech companies were able to close a all-time highof deals during the last year (see page 22f).Since beginning of October 2010, the Munich BiotechRegion has been awarded for the Leading Edge Clustercompetition by the German Federal Ministry of Educationand Research. Over € 40 million has been contributed forfive years by the German Federal Ministry of Educationand Research; another € 60 million has been provided bythe Bavarian Ministry and many industry partners. UntilMarch 2015, the main R&D strategy for all projects willpush Personalized Medicine and Targeted therapies.Furthermore, a number of Bavarian Biotech companiesreceive EU grants for certain R&D topics together withEuropean partners, for example the EUROCALIN Consortium,including ten companies, i.e. Pieris AG (Freising)and universities from across Europe, has initiated acollaboration focused on attaining and completing initialclinical development of a novel Anticalin ® therapeutic.The project will be sponsored partly by the EuropeanCommission Seventh Framework Programme(FP7-Health).EXTERNAL FINANCING AND DEALS1,39 billionMio. €600600610500533400300200151,461,2210,010078,2139,657,5116,2120076,7 3442,22006 200784,0200830,1200949,020,0201040,028,02011Follow-OnIPOVC + Silent PartnershipsFinancing “on demand”closed deals (dotted line)in the respective year only*Loans are not included25
- Page 2 and 3: Our research benefits your health.T
- Page 4 and 5: ImprintEditorial staff: Georg Kää
- Page 6 and 7: Select IMGM as your outsourcing par
- Page 8 and 9: The 2011 Biotech Year in Bavaria -A
- Page 10 and 11: Due to this focus that was establis
- Page 12 and 13: Furthermore, the continued interest
- Page 14 and 15: Last but not least, the IZB start-u
- Page 16 and 17: Company FoundationsMerck-Sharp & Do
- Page 18 and 19: Total number of employees in the Ba
- Page 20 and 21: PHASE II4SC: Hepatocellular carcino
- Page 22 and 23: Deals, Cooperation, Mergers, Financ
- Page 26: Due to the increasing number of new
- Page 29: one so called “innovation allianc
- Page 32 and 33: 4SC AGBIOTECH THERAPEUTICS & DIAGNO
- Page 34 and 35: Contact:Dr. Luc St-OngeFraunhoferst
- Page 36 and 37: Contact:Dr. Lars WassillWerkstr. 2D
- Page 38 and 39: Apceth GmbH & Co. KGBIOTECH THERAPE
- Page 40 and 41: Contact:Dr. Gundel HagerBahnhofstr.
- Page 42 and 43: Bernina Plus GmbHBIOTECH THERAPEUTI
- Page 44 and 45: Biontex Laboratories GmbHBIOTECH DE
- Page 46 and 47: Carl Zeiss MicroImaging GmbHBIOTECH
- Page 48 and 49: ChemDiv, Inc.CROContact:Dr. Anna Ni
- Page 50 and 51: conoGenetix biosciences GmbHBIOTECH
- Page 52 and 53: CoreLab Partners Europe GmbHCROCont
- Page 54 and 55: Davids Biotechnologie GmbHBIOTECH D
- Page 56 and 57: Dynamic BiosensorsBIOTECH DNA/PROTE
- Page 58 and 59: Contact:Uschi LangGoethestr. 4D-803
- Page 60 and 61: Eurofins MWG OperonBIOTECH DNA/PROT
- Page 62 and 63: FGK Clinical Research GmbHCROContac
- Page 64 and 65: GeneArt AGBIOTECHContact:Prof. Dr.
- Page 66 and 67: Contact:Dr. Korbinian GroteBayerstr
- Page 68 and 69: Contact:Peter Paul SchikoraMühlfel
- Page 70 and 71: Contact:Kurt MartinJosef-Engert-Str
- Page 72 and 73: ibidi GmbHBIOTECH DEVICES & REAGENT
M&A-ActivityIn early <strong>2011</strong> the acquisition of GENEART, Regenburg,trough the Life Tech Corporation was finalized. TheRegensburg site maintains as specific center of competencein synthetic biotechnology and brand-name withinthe Life Tech group. Later in <strong>2011</strong> the more than 200employees of GENEART moved to the third new buildingof <strong>Bio</strong>Park Regensburg.Another takeover hit a traditional bavarian chemicalcompany, Süd-Chemie AG. Clariant AG, Switzerland,acquired the controlling majority in Süd-Chemie AG andfinalized this procedure in late <strong>2011</strong>; the total value of thetransaction was about € 2.0 billion. Süd-Chemie is – alsoin future - an important partner in the <strong>Bavarian</strong> networkof industrial biotechnology, having advanced projects inproducing bio-fuel from straw. The demonstration plantwas just set up in Straubing by the end of <strong>2011</strong>.During the year <strong>2011</strong> two companies within the <strong>Bavarian</strong><strong><strong>Bio</strong>tech</strong> Cluster were sold to other <strong><strong>Bio</strong>tech</strong> companieswith a total deal volume of more than € 30 million. InFebruary <strong>2011</strong>, Evotec decided to acquire all shares ofKINAXO <strong><strong>Bio</strong>tech</strong>nologies, Martinsried. This acquisitionwill complete Evotec’s leading position as a fully integrateddrug discovery and early drug development partner.The company Kinaxo <strong><strong>Bio</strong>tech</strong>nologies has now transformedits name into Evotec Munich AG and will increaseits working force in Martinsried. The second M&A dealwas announced by FEI and Till Photonics. FEI, a leadinginstrumentation company was successful in acquiringTILL Photonics, a Munich based company which developshigh resolution, digital light microscopes and imagingsystems.FinancingThe external financing situation for <strong><strong>Bio</strong>tech</strong> companies isstill very sobering. Especially for drug developmentcompanies, the financing gap in early stage developmentup to clinical phase II increases. New financing modelshave been sprout out during the last year <strong>2011</strong>. Onlyabout € 70 million million in total have been invested bypublic and private investors within the <strong>Bavarian</strong> <strong><strong>Bio</strong>tech</strong>companies. In comparison to the year 2010, the totalamount of follow-on, venture capital investments anddebt financing dropped down by 76%, in a five yearoverview, it represents a reduction by 70%.Venture Capital has decreased dramatically during theyear 2010 with € 49 million, the total sum of venturecapital reduced to the amount of € 28.35 million. Thismeans a reduction by 42% compared to last year and atotal reduction by 63% within 5 years.One of the biggest financing rounds within the <strong>Bavarian</strong><strong><strong>Bio</strong>tech</strong> Cluster has been announced by AMsilk GmbH(Martinsried). The company revealed the closing of theirB-financing round. The investors MIG Fonds 6, MIGFonds 7 und MIG Fonds 11 as well as AT Newtec haveprovided € 5 million for the further commercialization ofAMsilk’s key technology. In addition, the MIG Fonds,together with Global Asset Fund also invested € 8 millionfor Antisense Pharma in Series E round.Furthermore, LipoFIT Analytic GmbH (Regensburg) raised€ 7 million in a second round of financing, which will besupported by SHS Gesellschaft, KfW Bankengruppe,Bayern Kapital and private investors to strengthenLipoFIT’s core business area of human diagnostics,biogas and plant analytics.Regarding the public capital market, especially follow-oninvestments decreased by 81% to € 39.24 million comparedto € 210 million the year before. Only two companies4SC AG (Martinsried) and Agennix AG (München /Heidelberg) completed their capital increases. In February<strong>2011</strong>, 4 SC AG (Martinsried) has gathered grossproceeds of approximately € 11,74 million and placed3,452,647 new shares at a price of € 3,40 per share.In addition, Agennix AG (Munich/Heidelberg) hassuccessfully finished their rights offering andplaced 9,319,504 new no-par value bearershares to shareholders. The companycollected approximately € 11,3 million incash and approximately € 16,2 millionfrom the conversion to equity of anexisting loan plus interest. The contributionin kind was partly done bycompany’s major shareholder,dievini Hopp <strong>Bio</strong>Tech holdingGmbH & Co.KG.24