Orrick Advises TVM Capital Life Science on Investment in leon-nanodrugs


Orrick advised venture capital investor and longtime client TVM Capital Life Science, as leader of an international syndicate of investors, in the €18.5 million Series A financing of leon-nanodrugs GmbH.

On July 27, 2015, Munich-based life sciences company leon-nanodrugs GmbH announced completion of the first closing of its Series A preferred stock offering at €18.5 million, with an additional €3.0 million expected later in 2015. The international financing was led by TVM Capital Life Science, based in Munich and Montreal, with participation from Signet Healthcare Partners (USA), LifeCare Partners (Switzerland), CD-Venture (Germany), Albany Private Equity Holding (Australia), and a non-disclosed Family Office from Germany.  Dr. Hubert Birner, Managing Partner, and Stefan Fischer, General Partner & CFO of TVM Capital Life Science, James Gale, Managing Director of Signet Healthcare Partners, Dr. Gerhard Ries, Managing Partner of LifeCare Partners, Dr. Frank Mathias, CEO of Medigene AG, and Dr. Bernd Baumstümmler, CEO of Instillo Group, will be joining the Board of Directors.

Founded in 2011 by a group of experienced drug development professionals, leon-nanodrugs focuses on the reformulation of approved or promising small molecule and protein drug candidates using its patented and award-winning MJR-nanotechnology-platform. leon-nanodrugs develops novel oral and parenteral formulations by using GMP (Good Manufacturing Practice) compliant nanotechnology to improve bioavailability, solubility and dissolution rates. The proceeds of this Series A financing will be used to expand leon-nanodrugs’ profitable service business and to enter into high margin co-development deals with pharmaceutical partners.

“This is our first investment into a German company since 2009 and we are very pleased to reinforce our footprint as a lead-investor in the German Life Science market, especially as we are joined in this financing by reputable investors who have co-invested with us over many years in Germany and abroad”, stated Dr. Hubert Birner, Managing Partner with TVM Capital Life Science in Munich and Montreal.  He continued, ”leon-nanodrugs provides an exciting next-generation-nanotechnology reformulation platform, validated by multiple service collaborations with prominent pharma partners, that will certainly change this market segment in the future – congratulations to the team at leon-nanodrugs for achieving one of the largest Series A financings this year.”

TVM Capital Life Science provides venture capital to the international pharmaceutical, biopharmaceutical and medical technology industries, with a track record of more than 30 years of transatlantic investment and in excess of US$1.3bn under management. TVM Capital Life Science currently invests from its 7th fund generation, TVM Life Science Ventures VII, with an integrated team of investment professionals from Munich and Montreal.

leon-nanodrugs and its founders were advised by Binder Grösswang, Vienna, led by partner Andreas Hable, and Signet Healthcare Partners was advised by Sheppard, Mullin, Richter & Hampton LLP.

Orrick has a leading global practice advising technology companies, including life sciences companies, and venture capital investors. Orrick’s Technology Companies Group in Munich advises a large variety of company founders and high-growth companies, as well as renowned investors, at all stages of a company’s life cycle—from incorporation through financing and business expansion right up to exit.

The Orrick team was led by counsel Thomas Strassner (Corporate, Munich) and included associate Nicolas Mähner (Corporate, Munich), partners Christian Schröder (IP/IT, Düsseldorf) and Sophie Ratzke (IP/IT, Düsseldorf), partner Stefan Schultes-Schnitzlein (Tax, Düsseldorf), and counsels Ulrich Fülber (Labor and Employment, Munich) and Lutz Hoheisel (Labor and Employment, Frankfurt).