Deal round-up 13/03/03

PolyTechnos co-leads E14m OncoGenome Sciences round; Ariadne backs $10m nanotech round; NIB leads Belgian software round

PolyTechnos co-leads E14m OncoGenome Sciences round


PolyTechnos Venture Partners, the German venture capital firm based in Munich, has completed a first round of financing for Belgium-based OncoGenome Sciences, a developer of clinical diagnostic testing services and kits.


Lead investor in the round was Bank Brussels Lambert. The round was co-led by PolyTechnos funds and Netherlands-based Life Sciences Partners. Also investing in the round were Meusinvest, Technowal, and SIBL.


According to CEO Herman Spolders, OncoGenome Sciences plans to use the funding to develop the company’s technology. The company is also currently expanding its research and development operations in Belgium and its clinical and business development teams in North Carolina


Ariadne backs $10m nanotech round


London-based venture capital firm Ariadne Capital has participated in a $10m financing round for NanoMuscle, a company set up by Scottish entrepreneur Rod MacGregor which manufactures nanotechnology-based motors to displace existing electromagnetic motors.


The round was led by AutoVision, the corporate venturing unit of Volkswagen. US-based Crossbow Ventures also participated in the round.


The nanotechnology sector has proved to be less popular with investors than had been anticipated. Last month, Capital Stage, the German-listed technology investment firm, decided to withdraw from the sponsorship of a recently launched nanotechnology fund, Capital Stage Nanotech Invest. When the fund was launched in March 2002, Capital Stage and a number of strategic partners agreed to E20m of a planned E100m total.


NIB leads Belgian software round


NIB Capital Private Equity and Big Bang Ventures have joined forces to lead a E3.3m round for DataCenter Technologies, a developer of data protection software based in Gent, Belgium.


Other investors in the round included NeSBIC CTE Fund, KBC Securities, Partech International, TrustCapital Technologies, and Marc Devis, the company’s executive chairman, and Philippe Janssens, the company COO.


The capital is the first to be raised by DataCenter since it became an independent company. DataCenterTechnologies was spun off from Belgian-based Dedigate, the Benelux’s leading independent provider of dedicated managed hosting solutions, in the summer of 2002.