DeveloGen Closes Euro 40 Million Private Financing

Apr 18, 2001, 01:00 ET from DeveloGen AG

    GOETTINGEN, Germany, April 18 /PRNewswire/ -- DeveloGen AG, a leading
 functional genomics company, announced today the completion of a
 Euro 40 million private financing round led by Dresdner Kleinwort Capital, the
 global private equity arm of Dresdner Kleinwort Wasserstein.  The money raised
 will allow DeveloGen to accelerate additional applications of its integrated
 technology platform, DeveloScreen(TM), to advance its diabetes and obesity
 programs and to implement procedures for further corporate growth.
     New investors joining Dresdner Kleinwort Capital include BdW (Germany /
 advised by Breslin Biotech, Switzerland) DVC Deutsche Venture Capital
 (Germany), and CBG Commerz Beteiligungsgesellschaft (Germany).  Existing
 investors who supported the financing include TVM Techno Venture Management,
 (Germany), Global Life Science L.P. (advised by Life Science Ventures,
 Germany), Industrie Management Holding (Germany), Dansk Kapitalanlaeg
 (Denmark), and tbg Technologie-Beteiligungs-Gesellschaft der Deutschen
 Ausgleichsbank (Germany).
     "This financing round will enable DeveloGen to expand the application of
 its unique functional genomic technology into additional business areas as
 well as maintain the progress seen to date in our diabetes and obesity
 programs," commented Herbert Stadler, CEO of DeveloGen.  "We are excited to
 have new investors who share belief in our corporate strategy and welcome the
 continued support of existing investors."
     DeveloScreen is an integrated in vivo functional genomics platform
 utilizing the conservation of gene function hypothesis that human genes have
 counterparts in lower organisms.  Using phenotypical variations in fruitfly,
 zebrafish, chick and mouse models, DeveloGen is able to rapidly identify novel
 genes and validate their corresponding function, and relate these discoveries
 to disease.
     Using fruitfly models as an entry point, the company has identified genes
 affecting fat storage and metabolism.  DeveloGen has advanced this program to
 discover large numbers of drug discovery targets, which may be potential
 targets for the treatment of obesity.  Through its founders research at the
 Max-Planck-Institute for biophysical chemistry in Goettingen, DeveloGen has
 also discovered the PAX family of genes responsible for the generation of
 insulin-producing pancreatic beta cells.  The company is now researching the
 PAX gene family as a potential therapeutic target for the treatment of
 diabetes.
     "DeveloGen has established itself as a leader in utilizing developmental
 biology for creating novel gene based medicines," commented Jane Fisken,
 Managing Director, Life Sciences, Dresdner Kleinwort Capital.  "We
 particularly like the fact that the integrated genomic technology platform
 allows the Company to both rapidly identify disease-related genes and validate
 their function as potential therapeutic targets in a number of models
 simultaneously.  The speed with which DeveloGen is able to validate the
 function of genes will help the Company sustain a competitive advantage in its
 business development strategy."
 
     Dresdner Kleinwort Capital (DrKC) is the new brand name (introduced in
 January 2001) for Dresdner Kleinwort Benson Private Equity.  DrKC is the sole
 private equity business of Dresdner Kleinwort Wasserstein, the Investment
 Banking division of the Dresdner Bank Group.  Dresdner Kleinwort Capital
 manages over EUR4 billion in equity and mezzanine funds under direct and
 co-advisory management in Western and Central Europe, the US, Asia and Latin
 America.  This scope is made possible by the network of offices located in the
 UK, Germany, Spain, Italy, Poland, Hungary, the US, Singapore, Hong Kong and
 Japan.
     DrKC invests in three primary segments:  mid-market expansion capital and
 buyout, venture capital and fund of funds investing.  Investments are made
 with Dresdner Bank capital and funds committed by third parties to investment
 vehicles sponsored or co-sponsored by Dresdner Kleinwort Capital.  In addition
 to direct investments DrKC also allocate capital to third party managed
 private equity and venture capital funds.  This provides a global network of
 capital partners and co-investment opportunities, and has enabled DrKC to
 develop its own funds, fund-of-funds products and secondary products.  DrKC
 employs 165 people.  For more information please visit our website,
 www.dresdnerkc.com .
 
     DeveloGen is a leading biotechnology company engaged in the discovery and
 development of novel therapeutic targets and agents through the application of
 model organism-based functional genomics.  DeveloGen's approach is based on an
 integrative proprietary technology platform for creating innovative gene based
 medicines initially focussing on globally important human diseases, including
 obesity and diabetes.  For more information, please visit our website,
 www.develogen.com .
 
 

SOURCE DeveloGen AG
    GOETTINGEN, Germany, April 18 /PRNewswire/ -- DeveloGen AG, a leading
 functional genomics company, announced today the completion of a
 Euro 40 million private financing round led by Dresdner Kleinwort Capital, the
 global private equity arm of Dresdner Kleinwort Wasserstein.  The money raised
 will allow DeveloGen to accelerate additional applications of its integrated
 technology platform, DeveloScreen(TM), to advance its diabetes and obesity
 programs and to implement procedures for further corporate growth.
     New investors joining Dresdner Kleinwort Capital include BdW (Germany /
 advised by Breslin Biotech, Switzerland) DVC Deutsche Venture Capital
 (Germany), and CBG Commerz Beteiligungsgesellschaft (Germany).  Existing
 investors who supported the financing include TVM Techno Venture Management,
 (Germany), Global Life Science L.P. (advised by Life Science Ventures,
 Germany), Industrie Management Holding (Germany), Dansk Kapitalanlaeg
 (Denmark), and tbg Technologie-Beteiligungs-Gesellschaft der Deutschen
 Ausgleichsbank (Germany).
     "This financing round will enable DeveloGen to expand the application of
 its unique functional genomic technology into additional business areas as
 well as maintain the progress seen to date in our diabetes and obesity
 programs," commented Herbert Stadler, CEO of DeveloGen.  "We are excited to
 have new investors who share belief in our corporate strategy and welcome the
 continued support of existing investors."
     DeveloScreen is an integrated in vivo functional genomics platform
 utilizing the conservation of gene function hypothesis that human genes have
 counterparts in lower organisms.  Using phenotypical variations in fruitfly,
 zebrafish, chick and mouse models, DeveloGen is able to rapidly identify novel
 genes and validate their corresponding function, and relate these discoveries
 to disease.
     Using fruitfly models as an entry point, the company has identified genes
 affecting fat storage and metabolism.  DeveloGen has advanced this program to
 discover large numbers of drug discovery targets, which may be potential
 targets for the treatment of obesity.  Through its founders research at the
 Max-Planck-Institute for biophysical chemistry in Goettingen, DeveloGen has
 also discovered the PAX family of genes responsible for the generation of
 insulin-producing pancreatic beta cells.  The company is now researching the
 PAX gene family as a potential therapeutic target for the treatment of
 diabetes.
     "DeveloGen has established itself as a leader in utilizing developmental
 biology for creating novel gene based medicines," commented Jane Fisken,
 Managing Director, Life Sciences, Dresdner Kleinwort Capital.  "We
 particularly like the fact that the integrated genomic technology platform
 allows the Company to both rapidly identify disease-related genes and validate
 their function as potential therapeutic targets in a number of models
 simultaneously.  The speed with which DeveloGen is able to validate the
 function of genes will help the Company sustain a competitive advantage in its
 business development strategy."
 
     Dresdner Kleinwort Capital (DrKC) is the new brand name (introduced in
 January 2001) for Dresdner Kleinwort Benson Private Equity.  DrKC is the sole
 private equity business of Dresdner Kleinwort Wasserstein, the Investment
 Banking division of the Dresdner Bank Group.  Dresdner Kleinwort Capital
 manages over EUR4 billion in equity and mezzanine funds under direct and
 co-advisory management in Western and Central Europe, the US, Asia and Latin
 America.  This scope is made possible by the network of offices located in the
 UK, Germany, Spain, Italy, Poland, Hungary, the US, Singapore, Hong Kong and
 Japan.
     DrKC invests in three primary segments:  mid-market expansion capital and
 buyout, venture capital and fund of funds investing.  Investments are made
 with Dresdner Bank capital and funds committed by third parties to investment
 vehicles sponsored or co-sponsored by Dresdner Kleinwort Capital.  In addition
 to direct investments DrKC also allocate capital to third party managed
 private equity and venture capital funds.  This provides a global network of
 capital partners and co-investment opportunities, and has enabled DrKC to
 develop its own funds, fund-of-funds products and secondary products.  DrKC
 employs 165 people.  For more information please visit our website,
 www.dresdnerkc.com .
 
     DeveloGen is a leading biotechnology company engaged in the discovery and
 development of novel therapeutic targets and agents through the application of
 model organism-based functional genomics.  DeveloGen's approach is based on an
 integrative proprietary technology platform for creating innovative gene based
 medicines initially focussing on globally important human diseases, including
 obesity and diabetes.  For more information, please visit our website,
 www.develogen.com .
 
 SOURCE  DeveloGen AG