Apax beefs up biotech

Kai Deusch, founder of healthcare venture capitalist Medicis Group, will join Apax’s Munich team as director.

Apax Partners has appointed Kai Deusch, an immunologist, as a director of its biotech team in Munich. He will start work in June.

Deusch is the founder of Medicis Group, a venture capital firm set up in 1999 aimed at healthcare and life sciences companies.

He has 15 years experience in clinical practice and research and has also worked for management consultancy McKinsey & Co.

Deusch’s Medicis recently sold a 73.75 per cent majority stake to Knorr Capital Partner, which had previously held 37.5 per cent of the investor. Knorr plans to float Medicis, which has 11 portfolio investments and is planning nine more, in the second half of this year.

Apax invested more than E125m in 15 European healthcare companies last year. The firm has about E12bn under management worldwide.