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EDMOND DE ROTHSCHILD INVESTMENT PARTNERS SELLS ITS POSITION IN COVAGEN AG TO JANSSEN AFFILIATE CILAG GMBH INTERNATIONAL, A JOHNSON & JOHNSON COMPANY

DGAP-News: Edmond de Rothschild Investment Partners / Key word(s):
Investment
EDMOND DE ROTHSCHILD INVESTMENT PARTNERS SELLS ITS POSITION IN COVAGEN
AG TO JANSSEN AFFILIATE CILAG GMBH INTERNATIONAL, A JOHNSON & JOHNSON
COMPANY

25.08.2014 / 15:15

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EDMOND DE ROTHSCHILD INVESTMENT PARTNERS SELLS ITS POSITION IN COVAGEN AG
TO JANSSEN AFFILIATE CILAG GMBH INTERNATIONAL, A JOHNSON & JOHNSON COMPANY

This operation is the fifth trade sale of BioDiscovery 3, the thirteenth
from BioDiscovery fund

Edmond De Rothschild Investment Partners (EdRIP) announced today that a
BioDiscovery 3 portfolio company, Covagen A.G., has been acquired by Cilag
GmbH International, an affiliate of the Janssen Pharmaceutical Company
which belongs to the Johnson & Johnson Family of Companies. Covagen is a
privately-held, biopharmaceutical company specializing in the development
of multispecific protein therapeutics through the FynomAb(R) technology
platform. The company's lead product, COVA322, a bispecific anti-tumor
necrosis factor (TNF)-alpha/anti-interleukin (IL)-17A FynomAb is in Phase
1b study for psoriasis and holds potential as a treatment for a broad range
of inflammatory diseases including rheumatoid arthritis. Covagen develops
FynomAbs, multi-specific protein therapeutics by fusing its fully human
Fynomer binding proteins to antibodies. Fynomers are small binding
proteins engineered to bind to target molecules with the same affinity and
specificity as antibodies. The tailored architecture and novel mode of
action of FynomAb therapeutics may offer enhanced efficacy in the treatment
of inflammatory diseases and other indications.

"A few years back we decided to invest in Covagen based on the quality of
the team and the versatility and flexibility of their Fynomer technology.
Since then, impressive progress has been made and today we are very proud
to see a highly respected partner taking over the development of the lead
product and the FynomAb platform. After achieving a high investment
multiple, we are looking forward to seeing them translate all this
potential into next-generation products that can improve patient outcomes,"
said Gilles Nobécourt, Partner at Edmond de Rothschild Investment Partners.

Covagen was the eighth investment of BioDiscovery 3, a specialized life
science investment fund managed by EdRIP. Raised in 2008, the Fund has
invested from 2008 to 2012 in a portfolio of 14 companies. So far five of
these companies have been sold through private transactions and two have
been listed on public financial markets.

About Edmond de Rothschild Investment Partners

Edmond de Rothschild Investment Partners is the private equity affiliate of
the Edmond de Rothschild Group, which is specialized in asset management
and private banking (EUR 133.6bn under management, nearly 2,800 employees
spread across 31 offices, branches and subsidiaries throughout the world).
Founded in 1953, the Group has been chaired since 1997 by Baron Benjamin de
Rothschild.

Paris-based Edmond de Rothschild Investment Partners is dedicated to
minority investments into privately-owned companies. It currently has more
than EUR1 billion under management which is being invested primarily as
life sciences venture capital and growth capital.

Within Edmond de Rothschild Investment Partners, its Life Sciences Team of
eight professionals brings together over 60 years of experience in the Life
Science industry and more than 100 years of private equity and venture
capital experience. The Team has raised EUR450 million through its
Biodiscovery franchise and is currently investing BioDiscovery 4. Since
inception, BioDiscovery Funds have invested in 49 companies, of which 13
have been sold and 12 listed on public financial markets. 19 are still
active in the portfolios.

BioDiscovery Funds, including BioDiscovery 4, are venture capital funds
dedicated to professional investors. These funds are not authorized by the
Autorité des Marchés Financiers and may adopt special investment rules.

For more information : www.edrip.fr

Contacts

Edmond de Rothschild Investment Partners

Gilles Nobécourt

[e-mail]

Tel: [phone]



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283775 25.08.2014