LSP and Max Planck launch DDC Ventures

Fund

Max Planck Innovation GmbH, the technology transfer arm of Max Planck Society, has teamed up with Life Sciences Partners to launch DDC Ventures, a venture capital fund with a target of EUR100m. DDC Ventures was launched by Max Planck Innovation and will be managed by LSP during its 10-year lifespan. Terms and conditions were not disclosed but are said to be industry standard.

DDC Ventures, together with the recently launched Lead Discovery Center (LDC), form the basis for Max Planck Innovation's Drug Development Center (DDC) concept which last year was awarded EUR20m in funding from the German Ministry of Education and Research (BMBF). Inventive Capital Advisors, an advisory firm specialising in technology commercialisation is acting as the placement agent.

Investors

The fund is in discussions with several cornerstone investors, mainly from Europe, and expects to reach an operational closing within this year.

Investments

The fund will invest in 10-15 pharmaceutical projects in pre-clinical phase, primarily originating from the life science institutes of the Max Planck Society in Germany, but may invest in other European companies. The fund expects to invest about EUR5m per target and may co-invest. Exit strategies include sales to pharmaceutical players as well as other venture firms.

People

Dr Joachim Rothe and Dr Jorg Neermann are the contacts for the fund in LSP's Munich office.

Name: DDC Ventures

Target: EUR100m

Focus: Life sciences, Germany, Europe

Contact: Dr. Joachim Rothe/Dr. Jorg Neermann

Address: LSP Life Sciences Partners

Luisenstrasse 14

80333 Munich

Germany

Tel: +49 89 330 666-0

Fax: +49 89 330 666-29

Advisers: Inventive Capital Advisors (Placement agent).

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