GERMANY - LSP sells U3 Pharma AG for EUR 150m
Life Sciences Partners (LSP) has entered into an agreement with Daiichi Sankyo Co Ltd that will see portfolio biotechnology company U3 Pharma AG sold for EUR 150m.
LSP led U3 Pharma’s most recent round of financing in May 2006, which also included contributions from, amongst others, Alta Partners, Atlas Venture, Edmond de Rothschild Investment Partners, Karsten Henco and several private individuals from the biotech and pharmaceutical industry.
U3 Pharma focuses on research into antibodies for the treatment of cancer. The company, which is based in Martinsried, was founded by Professor Axel Ullrich of the Max Planck Institute in 2001 and currently employs 27 people, the majority of whom work directly in research and development.
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