NGN Capital Closes its First
Healthcare Venture Capital Fund at $250 million
New York/Heidelberg, October 20, 2005 - NGN
Capital (www.ngncapital.com) announced the final closing of its
first healthcare venture capital fund NGN BioMed Opportunity I,
reaching the self imposed hard cap of $250 million.
NGN Capital significantly exceeded its initial target of $150
million in a challenging environment. “The concept of targeting
late stage global healthcare opportunities, in combination with
a team formed from leading firms in the industry has been received
quite well among investors. We are proud to have been able to
attract a very strong investor base right from the beginning,
comprising reputable financial institutions, state pension funds
as well as premier corporate and strategic investors, globally
diversified,” commented Kenneth S. Abramowitz, Managing
General Partner and co-founder of NGN Capital.
“Utilizing a broad range of capabilities enables NGN to
capture promising investment opportunities across various sectors
including pharmaceutical/ biotechnology products, medical devices,
diagnostics and services. Within its first year NGN has been able
to attract high-quality deal-flow compile a portfolio ranging
from pharma spin-outs to several near-to-market medical device,
diagnostic and device companies, such as Aerovance, Jerini AG,
Santhera AG, Power Medical Innovations, OptiScan, Ekos, Sightline,
BioArray and KIKA Medical,” said Georg Nebgen, Managing
General Partner and co-founder of NGN Capital.
“Our global investment capabilities combined with the broad
public/private equity and pharma industry background of the General
Partners make NGN a preferred partner for late stage transactions,
where global clinical, regulatory, licensing and market strategies
become increasingly relevant,” commented Peter Johann, Managing
General Partner of NGN Capital.
“A key aspect of our organizational success revolves around
a disciplined approach in the investment process and operating
governance,” commented John R. Costantino, Managing General
Partner and CFO of NGN Capital. He further noted: “This
approach serves as a cornerstone for success in the venture community.”
“NGN is supported by an industry leading Advisory Board
with complementary late stage skills across relevant disciplines
from business to science,” commented William J. Gedale,
Managing General Partner and co-founder of NGN Capital.
The NGN Capital Advisory Board is chaired by Nobel Laureate Gerald
M. Edelman, MD, PhD, Chairman, Neurobiology at the Scripps Research
Institute and President of the Neurosciences Institute. The members
include Andreas Barner, MD, PhD, Vice Chairman, Member of Management
Board, Corporate Board Division Head Pharma Research, Development,
Medicine, Boehringer Ingelheim, Gerard M. Moufflet CEO, Acceleration
International, former Head of Healthcare, Advent International,
former Vice President Worldwide Trade, Baxter; Mehmet C. Oz, M.D.,
Vice-Chair of Surgery and Irving Professor of Cardiac Surgery
at Columbia University and Director of Clinical Trials of advisory
Board New Surgical Technology; Michael Sorell, MD, CEO Neurologix,
former Biotech Analyst, Morgan Stanley; Peter Sjöstrand,
MD, former Executive Vice President, CFO and interim CEO, Astra;
Philip J. Whitcome, PhD, Chairman & CEO BioArray, Chairman
of Avigen, former Dir. Corporate Development, Amgen, Bristol-Myers.
About NGN Capital
NGN Capital is a global healthcare venture capital investment
firm with offices in New York, NY, Heidelberg, Germany, and Greenwich,
CT. NGN has investment capabilities across a broad spectrum of
healthcare segments, including drug products, medical devices,
and healthcare services, with an emphasis on later-stage opportunities.
More information on NGN can be found at www.ngncapital.com
Contact: John R. Costantino
Phone: +1 212-972-0077
Email: jcostantino@ngncapital.com
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