German venture capital company bmp AG and the European investment group Durlacher have formed a joint vehicle, Durlacher bmp Life Science Ltd.
The vehicle will invest in British life science companies, especially in biotechnology and medical technology. Durlacher and bmp will each hold a 50 per cent stake.
Durlacher and bmp plan to publish a research project on the British biotech market in the second quarter of this year. Stephan Tarlach, senior investment manager at bmp, said: “On the basis of the research results, we expect to start investing in promising British life science companies in the 2nd half of 2001.”
Approximately one third of bmp’s investments are already in life sciences. The company’s own vehicle, bmp Life Science, has stakes in 13 companies in Germany. Durlacher and bmp announced plans for the vehicle, which is based in London, in September last year.
bmp AG was founded in 1997 and has invested in Germany, Europe and the US. To date, the firm has invested over E100m.