Seed Capital and Novo exit Contera

The two existing investors sold 100% of the company to Bukwang; the deal includes possible future contingent and royalty payments for Seed and Novo.

Contera's CEO John Bondo Hansen and chief scientific officer Mikael Thomsen will remain with the business following the sale.

Previous funding
Novo Seeds and Seed Capital completed two funding rounds in Contera Pharma before the sale. The first investment was made in May 2011, and a second one followed in June 2012.

Seed Capital's investments were made through its Seed Capital Denmark II fund.

Company
Contera Pharma is a Copenhagen-based pharmaceutical company developing treatments for movement disorders such as Parkinson's disease.

Founded in 2010, the company's main development programme is treatment for the debilitating condition levodopa-induced dyskinesia, which affects patients with Parkinson's disease and currently has no cure.

People
Carsten Schou worked on the deal for Seed Capital, alongside Novo Seed's Bobby Soni. John Bondo Hansen is the CEO of Contera.

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• Trade sale