Life sciences alive and well in the DACH region

This month saw a flurry of activity in the life sciences and medical equipment sector. Among the venture firms, TVM Capital was especially busy. Together with other backers, TVM has sold Direvo Biotech AG to Bayer HealthCare for approximately EUR210m, which it originally backed in 2001.

What is interesting is not only that Direvo was itself a spin-out from TVM-backed Evotec AG, but that Direvo's subsidiary Direvo Industrial Biotechnology GmbH had spun out prior to the sale and raised EUR8m in a first round of financing, with investors including TVM. This makes Direvo Industrial Biotechnology GmbH a third-generation part of TVM Capital's portfolio, showing how historical portfolio companies can hatch further investment opportunities. And to round it all off, TVM invested EUR4.5m alongside Wellington Partners in medical equipment company invendo medical GmbH.

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• DACH
• Healthcare