Sunstone Capital exits Zymenex to Chiesi Group
Sunstone Capital has agreed to sell Danish biopharmaceutical group Zymenex to Italian pharmaceutical company Chiesi Group.
Terms of the transaction, which constitutes Chiesi's first investment in the rare-disease space, were not disclosed. The acquisition of Zymenex includes Lamazym, a phase III recombinant enzyme used to treat patients suffering from alpha-Mannosidosis.
Sunstone is a venture investor with a strategy to sell when a portfolio company has reached clinical proof of concept, and it deemed Chiesi to have the global reach to develop Zymenex further.
Chiesi is a biopharmaceutical group focused on research and development of innovative biologic therapeutics for the treatment of rare and life-threatening genetic diseases.
Chiesi aims to gradually integrate Zymenex into its research and development structure, retain the Zymenex and Lamazym brands, and give the company access to high-potential markets. The group is also considering setting up a standalone rare disease unit that would cover all major geographies including the US, according to Chiesi chief executive officer Ugo Di Francesco.
Previous funding
Sunstone Capital first invested in Zymenex via its Sunstone Life Science Ventures Fund I in 2000. The Denmark-based, €160m venture fund specialises in healthcare and life sciences, with a geographic focus on Denmark, Finland, Norway, Sweden and the UK.
Its portfolio companies include Santaris Pharma, Vivostat and Jurag Seperation. Past investments include Chempaq, Natimmune, PreciSense and Zymenex.
Company
Founded in 1998 and headquartered in Hilleroed, near Copenhagen, Zemenex researches and develops innovative biologic therapeutics for the treatment of rare and life-threatening genetic diseases. It also has a research laboratory in Stockholm.
People
Sunstone partner Sten Verland is chairman of Zymenex's board. Ugo Di Francesco is chief executive officer of Chiesi.
Advisers
Company – Back Bay Life Science (Commercial due diligence).
More on Nordics
Change of mind: Sponsors take to de-listing their own assets
EQT and Cinven seen as bellweather for funds to reassess options for listed assets trading underwater
Trind VC plans up to five early-stage investments in next six months
VC has deployed around 10% of its second, EUR 55m fund and plans to invest in up to 40 startups
Letter from the editor: Unquote is moving to Mergermarket
Unquote Editor Harriet Matthews outlines Unquote.com's upcoming move to the Mergermarket platform and the new capabilities and intelligence that this brings to Unquote readers
Main Capital’s Assessio to be sold to Pollen Street
Recruitment software company tripled in revenue under Main Capital’s ownership
Latest News
Stonehage Fleming raises USD 130m for largest fund to date, eyes 2024 programme
Multi-family office has seen strong appetite, with investor base growing since 2016 to more than 90 family offices, Meiping Yap told Unquote
Permira to take Ergomed private for GBP 703m
Sponsor deploys Permira VIII to ride new wave of take-privates; Blackstone commits GBP 200m in financing for UK-based CRO
Partners Group to release IMs for Civica sale in mid-September
Sponsor acquired the public software group in July 2017 via the same-year vintage Partners Group Global Value 2017
Change of mind: Sponsors take to de-listing their own assets
EQT and Cinven seen as bellweather for funds to reassess options for listed assets trading underwater