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  • 21 October 2013
    NeoMed Innovation IV named “Venture Capital Fund of the Year”

    NeoMed Innovation IV L.P. has been awarded the prize “Venture Capital Fund of the Year” for its outstanding results over the last 12 months. The award was received at the annual Norwegian Investment Forum, the largest venture capital conference in Norway attended by more than 200 delegates on 15. October 2013. This is the first time a fund exclusively investing in the healthcare industry is receiving this award.

    Over the last 12 months, NeoMed IV completed two successful exits. In November 2012, Vessix Vascular (USA), developing a highly innovative catheter system to treat hypertension, was acquired by Boston Scientific, a leading US headquartered medical device company, for up to $425 million. In August 2013, Endosense (Switzerland), focused on improving the efficacy of catheter ablation for the treatment of cardiac arrhythmias, was acquired by St. Jude Medical, a global medical device company, for up to $331 million. NeoMed IV was a lead investor in both companies, represented on the board of directors and actively involved in their strategic development.

    The sale of Vessix Vascular and Endosense potentially return up to €116 million, 112% of the Fund’s total committed capital. Previous successful realizations of the Fund include EUSA Pharma (UK), PregLem (Switzerland) and Novexel (France). In total these five realizations have the potential to return up to 190% of the Fund’s total committed capital.

    NeoMed IV still holds investment positions in 4 innovative companies, most of them developing according to expectations and approaching important value inflection points.

    Erik Amble, managing partner of NeoMed Management commented:

    “We are very pleased to receive the award “Venture Capital Fund of the Year”.  It is a great recognition of the expertise, network and dedication of the NeoMed’s investment team that has been built over the years.  The two successful transactions validate NeoMed’s highly selective investment approach practiced since 1998 of backing few, emerging companies developing innovative medical products and maximizing the impact of a profitable exit on fund performance.”