PMV and LSP enter into strategic partnership in life sciences
Brussels, Belgium and Amsterdam, The Netherlands – May 11th 2015
ParticipatieMaatschappij Vlaanderen (PMV) and Life Sciences Partners (LSP) today announce entering into a strategic partnership to further build and strengthen Flanders’ life sciences industry, benefitting from each other’s complementary networks, skills and expertise.
Flanders is a leading life sciences region, being home to over 300 companies with biotech activities, excellent knowledge institutes like VIB and offering direct and indirect employment to more than 75,000 people in this sector. As the Flemish government’s premier investment company, PMV is playing an increasingly active role in financing and supporting life sciences companies in Flanders. Over the years, PMV has made active contributions to the start-up and growth of companies like Amakem, arGEN-X, Complix, Cardio3Biosciences, Q-Biologicals and others. Moreover, PMV has also been instrumental in the recruitment of foreign companies to Flanders, such as Biocartis and Apitope. The development timelines within the life sciences sector remain long and require huge amounts of capital. Participation of international specialized deep pocket investors is indispensible to properly grow and mature the sector.
LSP has a longstanding tradition of financing and supporting life sciences companies in Europe and the US. From its foundation in 1987 till today, LSP has always been 100% dedicated to life sciences. Today’s team of 20 professionals has a wealth of expertise and has built a unique network in the scientific, clinical, industrial and financial life sciences sector. Although LSP is active globally, Flanders has always been and still is one of LSP’s major target markets. Major investments in Devgen, ActoGeniX, Pronota, arGEN-X, Movetis and others illustrate LSP’s historical contribution to the Flemish life sciences industry.
With their partnership concluded today, LSP and PMV are joining forces to further build and strengthen the Flemish life sciences ecosystem. They are setting up a close collaboration between the respective investment teams to leverage each other’s expertise and skills and share networks. LSP and PMV will also actively collaborate in identifying companies having an interest in establishing activities in Flanders. As part of the collaboration, PMV also invests in LSP V, the most recent fund of LSP.
“Flanders has been a key component of LSP’s focus since our inception in 1987, not only because of the excellent science, but in particular due to institutes like VIB that spin out high calibre companies with solid teams and well-designed programs,” says Rene Kuijten, general partner at LSP. “The partnership with PMV will, in a very natural way, deepen and strengthen our relationships in Flanders. It is a real pleasure to work closely with Chris De Jonghe and her team at PMV.”
“We are delighted to set up this partnership with LSP,” says Chris De Jonghe, group manager venture capital and head of life sciences at PMV. “With the current alliance, PMV’s life sciences team can tap into the wealth of expertise that LSP has built up over the last decades. This will further increase the support and international exposure we can offer to our portfolio companies and expand our reach to foreign companies having an interest in establishing activities in Flanders. It perfectly illustrates PMV’s increased focus on internationalisation and cooperation with private partners.”
About LSP
LSP (Life Sciences Partners) is a leading independent European investment firm, providing financing for private and public life-science companies. Since the late 1980s, LSP’s management has invested in a large number of highly innovative enterprises, many of which have grown to become leaders of the global life sciences industry. With over USD 1 billion of investment capital raised to date and offices in Amsterdam, Munich and Boston, LSP is one of Europe’s largest and most experienced specialist life sciences investors. For more information, please visit lspvc.com.
For more information, please contact:
Rene Kuijten, General Partner
Tel: +31 20 664 5500