Deal round-up 17/06/03

Coastview adds funds to ACADIA round; Atila, Index lead BeamExpress financing; Kiala lands XAnge-led E12.8m round; ISIS exits AIMS Group Services

Coastview adds funds to ACADIA round


Coastview Capital, a life sciences venture capital firm based in Southern California, has provided capital for a follow-on closing of ACADIA Pharmaceuticals recent fundraising to bring the total raised by the US-Danish company to $28m.


ACADIA's recent financing round was led by US VC firm Oxford Bioscience Partners and also included investments from OrbiMed Advisors, Federated Kaufmann Fund, LD Pensions, Hambrecht & Quist Capital Management, ABN AMRO Ventures, Carnegie Fund II Biotechbridge and Dansk Kapitalanlaeg Aktieselskab.


ACADIA said it intends to use the proceeds from this financing to accelerate the clinical development of its advanced drug candidates and to exploit the portfolio of drug discovery assets generated by its proprietary platform. In connection with the recent closing, ACADIA also announced that Gordon Binder, founder and managing director of Coastview Capital, will join its board of directors. 


Atila, Index lead BeamExpress financing


Atila Ventures, a Lausanne, Switzerland-based private equity firm, has led a $7.5m series B round of financing for BeamExpress, a designer and manufacturer of next generation optical components. Index Ventures also participated in the round.


BeamExpress, also based in Lausanne, was spun out of the EPFL (Swiss Federal Institute of Technology, Lausanne) in 2001 by Professor Eli Kapon. Index Ventures provided the first round of funding. The firm says the funding will be used to strengthen BeamExpress’ management and product development team and bring to market initial commercial products.


Kiala lands XAnge-led E12.8m round


Kiala, a European business providing logistics services for distance shopping, has completed a E12.8m second round of financing led by XAnge Capital, the recently launched venture capital fund of La Poste, the French postal service. The new investment will enable the company to finance its international strategy and extend its network, currently active in four countries.


Also investing in Kiala for the first time is AGF Private Equity, the private equity subsidiary of the AGF Insurance group. All of the investors from the first round, completed in October 2001,  also participated, including Déficom (Belgium) and Part'Com (France), LogiSpring (Holland), Sofindev (Belgium) and West LB.


ISIS exits AIMS Group Services


ISIS Equity Partners has completed the disposal of its investment in AIMS Group Services, a UK-based environmental consultancy, to UK construction group Alfred McAlpine. The sale, completed with an enterprise value of £13m, is reported to have generated an annual rate of return of over 70 per cent and two times original cost for ISIS' clients. ISIS invested £3m in AIMS as part of a £6m refinancing in February 2002.