Top venture syndicate invests to advance expanding pipeline of products to

treat ophthalmic diseases

    PARIS, Dec. 12 /PRNewswire/ -- Fovea Pharmaceuticals SA, a
 biopharmaceutical company developing novel therapeutics for the treatment
 of ophthalmic diseases announced today that it raised EUR30M ($44M) in a
 Series B financing from a strong, international syndicate of new and
 existing investors led by Forbion Capital Partners (Naarden, The
 Netherlands). All existing institutional investors participated in the
 round including Sofinnova Partners, Abingworth, GIMV, The Wellcome Trust
 and CAPE.
 
     Fovea plans to use the proceeds from this financing to advance its
 clinical and preclinical pipeline and further develop its technology
 platform. In 2008, Fovea expects to advance its FOV1101 program for chronic
 allergic conjunctivitis into phase 2 clinical trials and to initiate phase
 2 studies of its FOV2302 and FOV2301 programs for the treatment of
 respectively acute and diabetic macular edema. The company expects to bring
 its fourth drug candidate, FOV2501, a protein discovered by Pr Jose-Alain
 Sahel's team (Inserm-UPMC U 592), into clinical trials in the first half of
 2009.
 
     "We are pleased that these leading investment firms recognize the value
 of Fovea's well balanced pipeline and unparalleled expertise in developing
 these novel therapies," said Bernard GILLY, Ph.D., Chairman and Chief
 Executive Officer of Fovea Pharmaceuticals. "The company has made enormous
 progress and this financing will enable us to continue to advance our lead
 programs through later-stage clinical studies."
 
     "Forbion Capital Partners invests in biopharmaceutical companies
 pursuing first or best in class drugs. In particular, we focus on companies
 with strong domain expertise and experienced management. Fovea in our view
 is well positioned to become a leader in the ophthalmology field. We are
 impressed by how quickly they have built a highly promising pipeline of
 products, which will be validated in the clinic using the proceeds of this
 financing round," said Sander Slootweg, managing partner at Forbion Capital
 Partners. "We are delighted to invest in Fovea Pharmaceuticals and join an
 experienced and proven management team along with a very strong and
 committed group of investors."
 
     In connection with the financing, Sander Slootweg will join the Board
 of Directors which is comprised of Antoine Papiernik (Sofinnova Partners),
 Tim Haines (Abingworth), Anthony Wild (Bows Pharmaceuticals) and Bernard
 Gilly. Bernard Gilly has been elected as Chairman of the Board.
 
     "Fovea's unique product platform has led to the generation of a robust
 pipeline of promising therapeutic candidates for the treatment of front and
 back of the eye disorders. Clinical candidates are already in development
 and at least three new products are expected to progress into the clinic in
 2008," commented Pr. Jose-Alain Sahel, Founder of Fovea Pharmaceuticals and
 Chairman of the Scientific Advisory Board. "It has been a pleasure to work
 with the talented and productive team at Fovea, and we all look forward to
 continued progress in exploiting the potential of these novel dedicated
 therapies."
 
     In parallel to these clinical developments, a strong discovery platform
 has been implemented, leading to the identification of novel targets. Fovea
 Pharmaceuticals has recently signed a Research Partnership Agreement with
 Genzyme to develop gene related therapies on the basis of one of these
 programs, using Fovea's selected targets to treat major retinal
 dystrophies.
 
     About FOVEA Pharmaceuticals
 
     Fovea Pharmaceuticals SA (Fovea) is a privately-held biopharmaceutical
 company specialized in development and commercialization of drugs for the
 treatment of ocular diseases, with a special focus on retinal pathologies.
 Created in May 2005, Fovea has a highly experienced board and management
 team. Fovea has been funded by six leading European investors including
 Forbion Capital Partners, Sofinnova Partners, Abingworth Management, The
 Wellcome Trust, GIMV and Credit Agricole Private Equity.
 
     FOVEA has built a project portfolio including internal research
 programs on dry AMD, glaucoma (neuroprotection), retinal dystrophies as
 well as clinical programs underway for such indications as macular edema,
 allergic conjunctivitis, or retinitis pigmentosa.
 
     To advance the development and commercialization of its programs, FOVEA
 is working both independently and through collaborators including
 industrial partners like Novartis, Genzyme, CombinatoRx, as well as with
 academic teams, like the Inserm unit U592, the Rothschild Ophthalmological
 Foundation, or the Johns Hopkins University.
 
     For additional information about FOVEA and its programs, please visit
 www.fovea-pharma.com
 
     About Forbion Capital Partners
 
     Forbion Capital Partners invests in EU and US Life Sciences companies,
 developing world-class products and technologies. The Forbion team has
 invested in 38 drug development and med tech companies since 2000,
 initially as ABN AMRO Capital Life Sciences, the venture arm of ABN AMRO
 Bank NV. In December of 2006 the group became independent by broadening its
 investor base and changing its name to Forbion Capital Partners. In recent
 years, the Forbion team has successfully divested from 13 portfolio
 companies leaving an active portfolio of 25 companies. Assets under
 management currently exceed EUR200 M.
 
 

     Fovea Pharmaceuticals SA
     Bernard Davitian
     Chief Financial Officer
     +33144164261
     info@fovea-pharma.com
 
     Press Contacts :
     France                                  U.S.
     EuroRSCG C&O                            Russo Partners, LLC
     Marie Carole de Groc                    Wendy Lau
     +33158479507                            +1-212-845-4272
     marie-carole.de-groc@eurorscg.fr        Wendy.lau@russopartnersllc.com
 
 

SOURCE Fovea Pharmaceuticals SA.

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