Investee Company – Morphochem AG (Germany).
Investee Company Business Type – Pharmaceutical production.
Type of Financing – Mezzanine private financing round.
Equity Providers – Life Science Partners, Techno Venture Management, Alta Berkley, Alta California Partners, West LB, Merlin Biosciences, Nomura International PLC, Viscardi AG.
Equity Leader (Individual) – Dr. Rene Kuijten and Martijn Kleijwegt, Life Science Partners.
Debt Providers – No debt provided.
Debt Type – N/A.
Debt Leader (Individual) – N/A.
Equity Amount – £9.2 million (euro15 million).
Total Deal Value – £9.2 million, (euro15 million).
Other Advisors – Undisclosed.
Comments – Morphochem, a global drug discovery company, has now completed its fourth funding round in as many years. This current round of £9.2 million takes the total funding it has received since 1998 to £47 million (euro77 million). The value of the company was not disclosed, but after its last round of funding in August 2000, the company was said to be valued at around £68 million (euro 112 million).
The company aims to become a world leading chemical genomics company. This incorporates studying the genomic response of entire cells or organisms in one experiment. Dr Kuijten, of Life Science Partners says of the company: “Morphochem has succeeded in extending its unique chemistry technologies into a full drug discovery engine through its recent acquisitions…We are very pleased to lead the investment round in this highly innovative company, and look forward to helping Morphochem reach its ambitious goals.”
Martijn Kleijwegt, the Managing Partner of Life Science Partners, will represent Life Science Partners on the board of Morphochem. Dr Weber, CEO of Morphochem said: “We are very pleased to have Life Science Partners joining our group of investors. The commitment of this highly experienced life science team gives endorsement to our strategy to build a premier drug discovery company.”