Life Science IPO Success for Advent Venture Partners

Amsterdam Molecular Therapeutics (AMT) has successfully completed an over-subscribed IPO on Euronext Amsterdam. The stock’s first day of trading was 20 June 2007 and its symbol is AMT. It raised €50m at the top end of its indicated price range at €10 per share valuing the company at approximately €139m. Advent Private Equity Fund IV was the largest investor in the €22m Series A financing round in July 2006. The IPO price of €10 per share is at a significant multiple to Advent’s cost per share achieved in less than one year.

AMT, based in Amsterdam, is developing gene-based therapies for orphan diseases with its lead product for the treatment of Type 1 hyperlipidemia (an excess of lipids in the blood) currently in advanced Phase II clinical trials. Advent General Partner, Dr Raj Parekh, is on the Board.