Montreal/Seoul, December 2, 2013 – TVM Capital Life Science and Hanwha Chemical Corporation Biologics Business Unit (“Hanwha Biologics”) announced today that both parties entered into a global collaboration agreement. TVM Capital Life Science is a successful international investment group operating since 1983 with offices in Montreal and Munich. Hanwha Biologics is a business unit of Hanwha Chemical based in Seoul, South Korea and aims to become a leading biopharmaceutical company focused on the development and commercialization of antibody-based new biologics and biosimilars. Because of their reduced side effects and improved efficacy compared to chemically formulated drugs, many biological products are now leading the global pharmaceutical industry with annual sales of blockbuster drugs exceeding USD 1 Billion. Hanwha Biologics is determined to transform into a global company recognized as a high quality biopharmaceutical provider eyeing global partnerships for business opportunities.
As part of the agreement, TVM Capital Life Science will support Hanwha Biologics with relevant business development opportunities from the wider TVM Capital Life Science network in Canada, the USA and Europe to meet Hanwha Biologics’ growth objectives. TVM Capital Life Science may also provide direct and indirect financing support for Hanwha Biologics’ target companies.
In return, Hanwha Biologics will become a strategic collaboration partner for TVM Capital Life Science in Korea and Asia as well as Limited Partner in TVM Life Science Ventures VII.
Paul Coleman, Ph.D., CEO of Hanwha Biologics, said: “TVM is a well-established player in the life science finance community and I am very pleased to have the opportunity again to work with TVM at Hanwha Biologics. I am convinced that TVM’s support for our business development objectives will yield new and tangible opportunities for Hanwha Biologics to act upon and to broaden our antibody-based and biosimilars pipeline which we would not have had access to otherwise.”
Dr. Hubert Birner, Managing Partner of TVM Capital Life Science, added: “We are very pleased to work with the Hanwha Biologics team and to be part of their growth story. The partnership with Hanwha Biologics will significantly increase our visibility and reach in the Korean market place.”
Note to the Editor:
About Hanwha Chemical Corporation and Hanwha Biologics
Hanwha Chemical Corporation has been a pioneer since its establishment in 1965. Hanwha Chemical Corporation has led the development of Korean petrochemical industry by producing basic products, i.e. PVC, LDPE, LLDPE, CA, often compared as “the staple” of industries. Today, Hanwha Chemical Corporation is focused on strengthening core competencies by developing specialty and eco-friendly products and exploring overseas markets, while identifying new growth engines, such as renewable energy resources, biopharmaceuticals, and nano materials. In 2006, for more focused investment and efficient Biologics business activities, Hanwha Chemical Corporation established a Biologics Business Unit (Hanwha Biologics) focusing on R&D of biopharmaceutical products. By entering the high value-added biopharmaceutical industry Hanwha Biologics is now systematically researching and developing highly effective and human-friendly biosimilar therapeutics and new antibody based biologics. At its Biotech R&D center located in Daejeon and its biopharmaceutical manufacturing facility in Osong Hanwha’s R&D competency and platform technologies are expanding and improving through recruitment of skilled scientists globally.
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 25-years of transatlantic investment track record and in excess of US$1.1bn under management. The life science team boasts more than 120 investments and almost 90 exits in the last 25 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 Montreal. www.tvm-capital.com or www.tvm-lifescience.com
About TVM Capital
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 Montreal and TVM Capital in Munich, and its healthcare private equity fund managed by TVM Capital MENA out of Dubai.
For additional information, please contact:
Dr. Paul Coleman CEO, Hanwha Biologics, Hanwha Bldg, 1, Janggyodong, Junggu, Seoul, South Korea, firstname.lastname@example.org, Phone : +82 2 729 4141
Dr. Hubert Birner, Managing Partner, TVM Life Science Management Inc. , 2 Place Alexis Nihon, Suite 902, 3500 Boulevard De Maisonneuve West, Westmount (Montreal), Canada, email@example.com, phone : + 1 514 928 53 69