LSP reaches first closing of LSP IV at EUR75m

Fund

Life Science Partners has reached the first closing of their fourth fund LSP IV on EUR75m; halfway to their EUR150m target. The vehicle, based in Amsterdam, has a 10+1+1+1 lifespan. The terms and conditions of the fund were not disclosed, however the management fees, carry and hurdle were referred to as "standard for the sector." Triago is acting as the placement agent while Allen & Overy have been retained as legal advisers.

Investors

The fund is backed by both existing and new investors from Europe and the United States; most notably, both pharmaceutical giants GSK and Pfizer have invested in the fund. The fund will remain open for new investors for some months.

Investments

The new fund, LSP IV, will be dedicated to private human life sciences companies in Europe.

People

LSP IV is managed by Martijn Kleijwegt, managing partner at LSP. The LSP Group invests in private companies as well as small-cap public companies and encompasses the entire life science arena, including drug development, diagnostics, medical instruments, agriculture, food, cleantech and biofuels.

The Group has raised over EUR500m since inception and operates from its offices in Amsterdam, Munich, and Boston. It has invested in over 60 companies, with 25 IPO exits at the European stock exchanges and trade sales to major pharmaceutical companies.

Name: LSP IV

First Closing: EUR75m - November 2008

Focus: Life sciences, biotechnology

Contact: Martijn Kleijwegt

Address: Life Science Partners, Johannes Vermeerplein 9, 1071 DV Amsterdam, The Netherlands

Tel: +31 20 664 55 00

Fax: +31 20 676 88 10

Advisers: Allen & Overy (Legal)

Triago (Placement agent).

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