GERMANY - Gilde portfolio firm signs licensing deal with pharma investor

Guy
24 February 2006

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Munich-based IDEA AG has announced that Celtic Pharmaceutical Holdings LP, an international private equity firm focused on the biotechnology and pharmaceutical industries, has acquiredthrough its subsidiary TDT an exclusive global licence to IDEA’s Transfersome® targeted delivery technology, including global rights to all IDEA’s products in clinical and pre-clinical development except for IDEA’s lead product, IDEA-033, an NSAID indicated against 'deep pain', which IDEA will continue to develop independently.

Financial terms of the transaction include upfront cash payments, milestone payments and royalties. In addition Celtic has committed to invest a minimum of EUR 15m in developing the Transfersome®-based product portfolio.

Gilde Healthcare focuses on innovative life science companies in Europe and invests from seed to late-stage. Gilde typically acts as (co)-lead investor of international syndicates.

In January 2006, Gilde launched its second healthcare fund, Gilde Healthcare II. This pan-European venture Fund has a target size of EUR 125m with a first closing planned in Q2 2006.