TVM Life Science Ventures VII Raises US $201.6 Million at Final Closing

Montreal/Munich (ots) - Fund focuses on achieving human clinical
proof-of-concept for early stage drug development projects, following
a capital efficient investment approach in collaboration with Lilly

TVM Capital Life Science, one of the leading life science venture
capital firms in Canada, the United States and Europe, today
announced the final closing of its latest fund, TVM Life Science
Ventures VlI, surpassing its target with more than $200 million
raised from a broad mix of investors, including cornerstone investors
Teralys Capital and Eli Lilly and Company. Other investors include
the Business Development Bank of Canada, the Minnesota Life Insurance
Company, CD Venture and FondAction. The fund also attracted
significant investment from other pharmaceutical companies such as
Bukwang Pharma of South Korea.

TVM Life Science Ventures VII is a unique collaboration between
TVM Capital Life Science and industry to finance and access
innovation, in addition to being a way to manage risk and share
reward. The fund acquires early-stage molecules from pharmaceutical
or biotechnology companies around the world, and then finances a
virtual project-focused-company ("PFC") for each of these molecules.
The objective is to develop each molecule through proof-of-concept
(one or more clinical studies designed to determine whether a
molecule has the potential to work in patients). If the molecule
shows efficacy, the molecule and/or development rights are offered
for sale to biopharmaceutical companies.

As an added benefit, these project-focused-companies have the
option to select Chorus, a virtual drug development organization
within Lilly's Global External Research and Development group. Chorus
provides access to world-class scientists who can produce high-
quality data packages through the implementation of lean and focused
drug development plans, at the direction of the project-focused-
companies, that help to determine proof-of-concept.

"The high-quality of the investors in TVM Life Science Ventures
VII is a testament to TVM Capital's strong 30-year track record of
identifying promising life sciences projects and companies and
supplying them with access to the scientific, capital and management
resources critical for success," said Dr. Hubert Birner, a managing
partner of TVM Capital's Life Science practice. "The fund invests
mainly in Canada, the United States, Germany and Western Europe, and
is advised by a dedicated team of investment professionals based in
Montreal and Munich."

Dr. Luc Marengere, a managing partner of the firm added, "The
fund's first investments, including Kaneq Bioscience, GLWL Research,
Ixchelsis, PRCL Research, and FAAH Pharma, showcase the fund's
strength in identifying innovative therapies, funding them, and
advancing them through this innovative model. Through TVM Life
Science Ventures VII, important new treatment options for patients
are progressing for disease areas such as Type 2 diabetes, men's
health, inflammation, and pain. The fund targets a total of 12 to 15
project-focused-companies and four to five traditional, syndicated
venture investments."

"We are excited by the potential for this novel venture fund,
working with a diversified group of project-focused-companies, to
help address significant unmet medical needs," said Darren Carroll,
vice president of corporate business development at Lilly. "Lilly has
pioneered the use of independent external financing sources and
innovative business models, such as the collaboration with TVM Life
Science Ventures VII, to supplement our core R&D investment strategy,
leverage research investments, and to help reduce the risks of
research."

"TVM Life Science Ventures VII plays a significant role with
entrepreneurs and inventors by providing them access to a global
network of strategic partners, technologies and co-investors," said
Jacques Bernier, managing partner of Teralys Capital. "We are proud
to have played a pivotal role in the formation of this fund."

About TVM Capital Life Science

TVM Capital Life Science is providing venture capital to the
international pharmaceutical, biopharmaceutical and medical
technology industries with more than 30-years of transatlantic
investment track record and in excess of US$1.3bn under management.
The life science team boasts more than 120 investments and over 90
exits in the last 30 years, including more than 40 initial public
offerings on all major U.S. and European stock exchanges, and
combines long-standing international investment and company building
experience with their track record of dedicated board work, extensive
global networks in the world of life science research and product
development and a direct knowledge of the local markets. TVM Capital
Life Science currently invests from its 7th fund generation, TVM Life
Science Ventures VII, with an integrated team of investment
professionals. Fund generations III to VI are managed by managing
partners, Dr. Helmut M. Schühsler and Dr. Hubert Birner out of the
Munich office. The new fund TVM LSV VII is advised by Dr. Hubert
Birner and Dr. Luc Marengere out of Munich and Montreal. The fund's
general partner resides in Jersey Channel Island. www.tvm-
capital.com or www.tvm-lifescience.com

About TVM Capital Group

TVM Capital is a group of globally acting venture capital and
private equity firms with an operating track record of 30 years.
Investment teams have financed more than 250 emerging companies
across several industries since 1984. During the last 15 years the
firm has become increasingly specialized in the most attractive and
high-growth verticals in the broader healthcare markets, with focus
areas in financing innovative products and technologies in the
European and U.S. biopharmaceutical and medical device markets, as
well as healthcare services in the Middle East and India. TVM Capital
funds operate globally with dedicated life science venture capital
funds advised by group members TVM Life Science Management in
Montréal and in Munich, and its healthcare private equity fund
managed by TVM Capital Healthcare Partners out of Dubai.
www.tvm-capital.com

For additional information, please contact:
Dr. Hubert Birner, Managing Partner, TVM Capital Life Science:
birner@tvm-capital.com: +1 514 931 4 111 or +49 89 998 992-0

Dr. Luc Marengere, Managing Partner, TVM Capital Life Science:
marengere@tvm-capital.com: +1 514 931 4 111

General Partner
TVM Life Science Ventures VII (GP)
Ltd.
11-15 Seaton Place,
St Helier,
Jersey
JE4 0QH, Channel Islands

Investment Advisor
TVM Life Science
Management Inc.
2 Place Alexis Nihon, Suite
902, 3500 Blvd De
Maisonneuve West,
Westmount, Montréal, QC

TVM Life Science
Management GmbH
Ottostrasse 4
80333 Munich, Germany
H3Z 1X5, Canada