euro6.5m financing for Screentec

Investee Company – Screentec B.V.

Investee Company Business Type – Dutch life science company

Type of Financing – Expansion

Equity Providers – Life Sciences Partners, Prelude Trust plc, Alafi Capital

Equity Leader (Individual) – Mark Wegter of Life Sciences Partners

Debt Providers – N/A

Debt Type – N/A

Debt Leader (Individual) – N/A

Equity Amount – euro6.5 million

Total Deal Value – euro6.5 million

Other Advisors – Stibbe

Comments – Screentec B.V., a Dutch life science company, has received a euro6.5 million first round of financing. Life Sciences Partners venture capital fund that focuses on investments in the life sciences sector, led the financing with a euro3.25 million investment and Prelude Trust plc invested euro2.7 million. Alafi Capital also contributed.

Screentec, founded in 1997, develops novel concepts for the rapid discovery, identification and isolation of known and unknown biologically active compounds in complex mixtures. Screentec’s focus is on key areas in the drug discovery process, particularly on the screening and validation of orphan receptors and the discovery of endogenous orphan receptor ligands.

Since October 1998, Screentec has had an agreement with German life science research-based group Bayer AG, which is using Screentec’s proprietary High-Resolution Screening technology in its natural product screening operation.

Andy Allars, Director of Prelude Trust plc, who co-invested on the deal said: “We are particularly impressed by Screentec’s smart screening approach, which is the best we have seen. With all our investments we focus on companies with key enabling proprietary technology and Screentec fits this model. Its technologies are key to improving the drug discovery process, both in terms of speed and quality”.

Mark Wegter of Life Sciences Partners has taken a position on the board of Screentec B.V.