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SWEDEN - HealthCap-backed company acquires pharma player

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Swedish medical equipment manufacturer Orexo has acquired pharmaceutical business Biolipox for SEK 856m. Orexo AB has completed a listing on the O-list of the Stockholm Stock Exchange for a value cSEK 1.2bn in the end of 2005. HealthCap did not exit its shares at the time.

Orexo is currently backed by HealthCap, Apax Partners, Sofinnova Partners, Scandinavian Life Science Venture, Credit Agricole Private Equity and Auriga. HealthCap initially invested in Orexo in 2002, while new investor Catella Capital and HealthCap injected SEK 45m in the business in 2004.

Biolipox is a research-intense pharmaceutical company that develops new treatments for inflammatory diseases. These include major and growing widespread diseases such as asthma, COPD (also called smokers´ disease), rhinitis (hay fever) and inflammatory and rheumatic pain.

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