Twenty-Five Year Veteran of the Laser and Optoelectronics Sectors Joins Sofinnova Ventures

Remy Aubert, PhD, Former President and CEO of Continuum Electro-Optics,

Will Grow Sofinnova Venture's Investment Activity in the Optical Domain As

Well as in New Materials for the Electronic Space and New Components

For the RF Space

May 22, 2002, 01:00 ET from Sofinnova Ventures

    SAN FRANCISCO, May 22 /PRNewswire/ -- Sofinnova Ventures, a venture firm
 investing in early stage information technology and life sciences companies,
 today announced that Remy J. Aubert, PhD has joined the firm as a Venture
 Partner.  For the past five years, Aubert has consulted to the photonics
 industry in the areas of fiber optic telecommunication and medical
 instrumentation.  Prior to this, Aubert was the co-founder, President and
 Chief Executive Officer of Continuum/Quantel International, a former Sofinnova
 Ventures portfolio company that designs and manufactures high performance
 laser systems for scientific, OEM, industrial and medical applications.
     With the addition of Aubert, Sofinnova Ventures will increase its
 investment activity in the optoelectronics domain covering, in particular,
 optical communication, display and storage applications, as well as new
 material development for the electronic and radio space.
     "Given the depth of his expertise and operational experience, Remy is the
 perfect person to increase our exposure to the highly complex field of optical
 communication," commented Alain Azan, a Managing Director of Sofinnova
 Ventures.  "Sofinnova held back from investing during the last several years
 because we felt the optics arena was clearly overfunded.  However, we believe
 that the next five-ten years still hold major opportunities for significant
 growth in optics in metro and access markets, and that now is a very good time
 for us to invest."
     "I have enjoyed a relationship with Sofinnova for over twenty years and am
 pleased to now be joining the team on a permanent basis," said Aubert.  "As
 the CEO and founder of an electro-optical company who has gained additional
 breadth of expertise through industry consulting, I look forward to drawing
 upon both my technical and operational experience to sort through the chaos of
 current optical startups to make several terrific investments for Sofinnova."
     Aubert served as President and Chief Executive Officer of Continuum
 Electro-Optics, after its acquisition by Hoya USA, from 1991-1997.  He grew
 the company from $20 million to $60 million in revenue and sustained profit
 through market diversification, both internal and by acquisition.  From
 1985-1991, he was President and CEO of Continuum Electro-Optics Inc./Quantel
 International, Inc., and led the company through international expansion and
 revenue growth from $5 million to $20 million.  Aubert co-founded Quantel
 International, Inc., a U.S. subsidiary of Quantel SA of Les Ulis, France, in
     He is a Fellow of the Optical Society of America and the Society of Photo
 Optical Instrumentation Engineers, and served as a board member of the Laser
 and Electro-Optic Manufacturer Association.  He is the inventor or co-inventor
 of three patents in the areas of tunable lasers and short pulse generation.
     Aubert received a Ph.D. in Quantum Optics, a degree in Optical Engineering
 and an MS in Physics from the University of Paris.  He also holds an MBA and
 an MS in Economics from the University of Paris and is an alumnus of the
 Stanford Executive Institute.
     About Sofinnova Ventures
     Sofinnova Ventures is part of a global organization with offices in France
 and the United States.  With a U.S. base in San Francisco, Sofinnova was
 founded in 1972 and is one of the oldest venture capital firms.  The firm
 emphasizes a diversified investment strategy through financing seed and
 early-stage companies in the communications, information technology and life
 science sectors.  Sofinnova's mission is to create value by providing
 entrepreneurs with the collective resources, experience and network necessary
 to build early-stage companies into profitable businesses.  With strong ties
 to Europe's leading financial, technology and venture organizations, Sofinnova
 helps U.S. companies rapidly enter Europe's growing markets, and European
 companies to develop a strong presence in U.S. markets.  Historically,
 Sofinnova Ventures has been associated with leading companies such as Biogen,
 Collagen, Genentech, Printronix, Tandon and Tandem Computers.  More recently,
 Sofinnova has invested in Actelion, Aviron, InterMune, Millennium
 Pharmaceuticals,, Premisys, Nishan Systems and Tumbleweed. For more
 information, visit
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