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Nextech Invest Portfolio Company TetraLogic Pharmaceuticals Starts Trading on NASDAQ
Second successful IPO from Nextech portfolio in Q4 2013
Zurich (Switzerland), December 13, 2013 - Nextech Invest Ltd., the Swiss specialist cancer venture capital investor, announced today the Initial Public Offering of its portfolio company TetraLogic Pharmaceuticals Corp., and its listing on the US NASDAQ exchange (NASDAQ: TLOG; Malvern, USA). In the IPO, TetraLogic raised a total of US$ 50.1 million, on the sale of 7.2 million shares at a price of US$ 7 per share, valuing the company at US$ 147.8 million total. Nextech invested in TetraLogic through a private equity financing round in 2011.
"TetraLogic's IPO confirms that the diligent selection process of Nextech Invest, which includes its unique seven-member Scientific Advisory Board, is paying off. Of the 10 investments in oncology companies made over the last six years, three have been successfully sold and two have gone public," said Alfred Scheidegger, Founding Partner at Nextech Invest Ltd. "Having realized our second IPO on the NASDAQ from our Nextech II Oncology Fund within eight weeks after the IPO of MacroGenics, we are pleased to see this exit avenue continuing to work well. I would like to wish the TetraLogic management team great fortune over the coming years and success in the clinic with birinapant (formerly TL32711)." Birinapant is in Phase I, Phase I/II and Phase II clinical trials to treat a range of cancers, including acute myelogenous leukemia (AML), ovarian and advanced or metastatic tumors.
About Nextech Invest Ltd.
The global specialist life sciences venture capital firm Nextech Invest Ltd., established 1998 in Zurich, Switzerland, focuses on investing in oncology related companies. Supported by an outstanding Scientific Advisory Board of seven world-leading oncologists chaired by Professor David Livingston, Deputy Director Dana-Farber/Harvard Cancer Center, Nextech Invest is investing in emerging companies with pioneering innovations in cancer research that have compounds in advanced clinical trials. The two Nextech funds have a total of US$ 100 million under management. Nextech Invest has made ten investments to date, of which three have already been exited. Nextech Invest is a longstanding member of leading networks in private equity, such as EVCA, SECA and EVPA. Nextech Invest works closely with the Union for International Cancer Control (UICC).
For more information, please contact:
Alfred Scheidegger
PhD, Founding Partner & CEO
Nextech Invest Ltd.
Tel.: +41 44 366 66 12
scheidegger@nextechinvest.com
www.nextechinvest.com
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