Bioindustry Park Canavese et Eporgen Venture annoncent la cr?ation de six nouvelles soci?t?s sp?cialis?es dans les biotechnologies

Biotech Writers BIOWIRE2K

TURIN, Italy--(BUSINESS WIRE)--June 29, 2005--Bioindustry Park Canavese Spa et Eporgen Venture Spa annoncent aujourd’hui le lancement de six nouvelles sociétés spécialisées dans les biotechnologies, dans le cadre de leur projet commun baptisé Discovery. Parmi les chiffres annoncés aujourd’hui, on retiendra notamment que ce projet représente 3 millions d’euros de capital privé, 2,7 millions d’euros d’investissements publics et l’engagement de 18 scientifiques qui, issus du milieu universitaire et de centres de recherche publics, sont devenus entrepreneurs.

Bioindustry Park Canavese and Eporgen Venture Announce 6 New Biotech Companies

Biotech Writers BIOWIRE2K

TURIN, Italy--(BUSINESS WIRE)--June 29, 2005--Bioindustry Park Canavese Spa and Eporgen Venture Spa announced today the start-up of six new biotechnology companies, as result of the joint project Discovery

Euro 3m of private capital, Euro 2.7m of public investment, 18 researchers from academia and state research centres who have become entrepreneurs: these are the main figures of the enterprise announced today.The companies have established their headquarters in the Bioincubator, created by the Bioindustry Park (www.bioindustrypark.it) with the support of the Piedmont Region Authority.

The companies - BioNucleon, Biopaint, Eicosamed, Narvalus, Spider Biotech and Target Heart - operate in the molecular biology, technologies applicable to industrial processes, chemical, and environmental sectors

The main funding for the enterprise is the capital provided by Eporgen Venture.

Eporgen has a shareholding of between 60-76% in each company, the remaining quota being held by the neo-entrepreneurs.

The share capital of the companies is between Euro 10,000-100,000.

In order to guarantee ongoing development of the projects, Eporgen will be investing equity of between Euro 250,000-600,000 in each company over the next three years

Eporgen was set up in 2004 by private investors in order to finance new biotechnology companies based on highly innovative projects with international scientific relevance.

Eporgen provides the means to enable projects withnin 3-year to reach a level where they can be proposed to new investors and venture capitalists, or generate partnerships with medium/large pharmaceutical and biotechnology companies

"Eporgen Venture is the first example of an Italian seed capital company managed by private businessmen with a view to development", said President Silvano Fumero.

"Our company is committed to providing neo-entrepreneurs both financial resources and a broad support network of managerial, marketing and business development competences." International venture capitalists Index Ventures (Geneva), Edmund de Rothschild Investment Partner (Paris) and Merlin Biosciences (London) have been met during the selection.

They gave valuable advice and will be informed of developments with a view to their possible role in the consolidation of these new companies

"This achievement confirms Piedmont as one of the most active Italian regions within the biotechnology sector," said Fumero.

"With these new companies and the four already constituted in the Bioindustry Park, we can say that we have created the first biotechnology cluster in Italy."

CONTACT:

Eporgen President

Silvano Fumero, +39-0125 538346 [email protected]

or

Bipca President

Lorenzo Silengo, +39-0125 561311 [email protected]