Deal round up 05/11/02

DrKC increases Euromedic investment; Sofinnova invests in US biopharma round; ICC backs 2PM Technologies second round

DrKC increases Euromedic investment


Dresdner Kleinwort Capital has made its third investment in Euromedic International, a provider of private and diagnostic medical services in Central and Eastern Europe.


DrKC is providing $22.5m which will be used to buyout an early founding shareholder of Euromedic and will finance the expansion of Euromedic’s diagnostic and dialysis centres in its existing countries of operation, as well as its efforts to explore opportunities in other countries in Central and Eastern Europe.


Janusz Heath, Managing Director of Dresdner Kleinwort Capital’s Central and Eastern Europe team said: “While Euromedic has received some informal approaches to acquire it, management, ourselves and the other investors felt that the company had significantly more scope for growth across the region.”


Sofinnova invests in US biopharma round


French venture capital house Sofinnova Ventures has participated in a E36m second round of financing for Novacea, a biopharmaceutical company based in San Francisco. The financing is being used to fund research into the company’s cancer treatment drug, DN-101.


The investment round was led by two US firms, New Enterprise Associates and Versant Ventures. Existing investors, Domain Associates, ProQuest Investments, joined Sofinnova in the round. Camille Samuels Pearson of Versant Ventures and Michael Raab of NEA have joined Novacea’s board of directors.


ICC backs 2PM Technologies second round


Dublin-based investor ICC Venture Capital has backed the second round of fundraising for Athlone-based 2PM Technologies. The E3.2m investment gives 2PM, which develops wireless technology, a total value of E24m.


In addition to ICC, investors in 2PM include government-backed venture capital organisation Enterprise Ireland and angel investor Gilbert Little, both of which backed the firm’s first round of investment, which closed on E3.3m in January this year. The capital will be used to launch 2PM's mobile-fixed telephony messaging products across Europe.