VC-backed BioVex sold for $1bn
Biotech company BioVex - backed by a consortium of venture investors including SEP, Forbion and Crédit Agricole Private Equity - has been acquired by US biotech firm Amgen in a $1bn all-cash deal.
SEP led a £17m third funding round for Biovex in 2003. New investors participating in this round included ABN AMRO Capital, Avalon Ventures, Crédit Lyonnais Private Equity and Sitka Health Fund VCT.
The backers subsequently injected more equity in the company over the years - Biovex recently raised $70m from its investors in a series-F round of funding.
Founded in 2000, Biovex is developing a new class of potent biologics for the treatment of cancer and prevention of infectious disease.The firm was originally established in Oxford (where it still maintains a presence) but relocated in 2005 to Woburn, Massachussets.
The unquote" team is currently researching this transaction. In-depth deal information for subscribers will follow shortly.
If you have any information regarding this transaction, please contact Grégoire Gille on +44 20 7484 9824 or gregoire.gille@incisivemedia.com
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