Advent Venture Partners announces the appointment of Don Drakeman and Rudi Pauwels to the Life Sciences team

London, 26 June 2007 – Advent Venture Partners (“Advent Ventures”) today announces the appointment of Don Drakeman and Rudi Pauwels as Venture Partners in the Life Sciences team. Don and Rudi have demonstrated outstanding records in founding and building very successful companies that have had a major impact on the biotechnology industry. They will work closely with Advent Ventures’ portfolio companies to help maximize their potential and with the Investment Team to source, assess and manage new investments. Don Drakeman will be based in Princeton, New Jersey and Rudi Pauwels will be based in Lausanne, Switzerland.

Don Drakeman PhD is an entrepreneur and executive who has co-founded two multi-billion dollar biotechnology companies: Medarex, Inc. and Genmab A/S. Under his leadership as President and CEO, Medarex raised over a billion dollars, formed alliances with several major pharmaceutical companies, advanced many therapeutic products into clinical development and spun-off Genmab, which completed one of Europe’s largest biotechnology IPOs to date.

Rudi Pauwels PhD is a pharmaceutical scientist and one of Europe’s most successful and respected biotechnology entrepreneurs. He has founded several European Biotechnology Companies, including Tibotec, Virco, and Galapagos. As founder, CEO and CSO, he was responsible for advancing the anti-HIV pipeline at Tibotec-Virco from research concepts to Phase III clinical trials. The company was acquired by Johnson & Johnson in 2002. The first of these anti-HIV drugs, the protease inhibitor Prezista™, recently obtained FDA and EMEA approval, and two further drugs are at an advanced clinical development stage. Rudi is currently a Visiting Scientist at the Ecole Polytechnique Fédérale de Lausanne (EPFL) in Switzerland, one of the leading research centres in Europe. Rudi has received several awards for his scientific work and his achievements as a Biotechnology entrepreneur.

Commenting on these appointments Dr Raj Parekh, General Partner at Advent Ventures, said: ‘We are delighted to have attracted two such outstanding individuals to our team. With their judgement and experience in discovering breakthrough medicines and in building successful biotechnology companies to exploit innovative science, I am confident that both Don and Rudi will make major contributions to creating significant value in our portfolio companies. We welcome them to our team and look forward to working with them.’

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Notes to Editors:

About Advent Ventures:
Advent Ventures is one of the most experienced technology venture capital firms in the UK. Established in 1981 it invests in both the Life Science and the Technology sectors. Advent Ventures has over £500 million (US$ 900m) under management from institutional investors across Europe and the USA. It has backed around 60 life science companies of which, to date, 22 have obtained public listings and a further 9 companies have been sold including PowderMed (to Pfizer) and KuDOS Pharmaceuticals (to AstraZeneca). Recent public listings of Advent Ventures Life Sciences' companies include Amsterdam based gene therapy company, AMT, and Norwegian radiopharmaceuticals company, Algeta. Recent investments by the Advent Life Sciences team include: the US specialty pharma company, CardioKine Inc; the US medical device company NeoGuide; UK-based Thiakis which develops hormone-based treatments for obesity; the Swiss therapeutic antibody company, 4-Antibody and EUSA Pharma Inc, a new transatlantic specialty pharmaceutical company.

For more information please contact:
Penrose Financial
Kay Larsen / Francesca Reville
+44 20 7786 4864

Advent Ventures
Dr Raj Parekh
+44 20 7932 2100

 

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