Seed Capital sells EpiTherapeutics to Gilead for $65m

In addition to Seed Capital, previous investors in EpiTherapeutics include Novo Seeds, Lundbeckfond Emerge, MS Ventures and Astellas Venture Management. The sale price is subject to certain adjustments and will be paid with cash from Gilead's balance sheet.

The sale brings the total value of Seed Capital's five exits in the past year to DKK 3bn, boosted in particular by the $444m sale of Galecto Biotech to Bristol-Myers Squibb, as well as the sale of Endomondo and Windar Photonics' IPO.

Previous funding
EpiTherapeutics first raised capital in December 2008, through a seed investment from Novo Seeds and Seed Capital.

A funding round led by MS Ventures in December 2010 brought the total raised by the company to DKK 51.5m. In February 2013, the four existing investors increased their commitment to EpiTherepeutics with a €5m injection.

Company
EpiTherapeutics, which was founded in Copenhagen in 2008, develops enzymes used in cancer treatments.

The company bases its product development on research by the Biotech Research & Innovation Centre at the University of Copenhagen.

People
Seed Capital general partner Carsten Schou worked on the exit for the VC. Martin Bonde is the CEO of EpiTherapeutics.

Advisers
Management – Back Bay Life Science Advisors (Corporate finance).

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• Nordics
• Healthcare
• Exits
• Trade sale
• Denmark