Today, on April 4, an agreement on cooperation between the Maxwell Biotech venture capital fund created with the participation of the RVC capital, and High-Tech Gr?nderfonds venture capital fund to support technology start-ups (HTGF), one of the largest venture capital funds in Europe was signed, reports the RVC press-release.
In the agreement the Maxwell Biotech and HTGF venture capital funds confirm their intention to develop strategic partnership for investment in the biopharmaceutical and medical industries of Russia and Germany. Within the partnership the funds will join their efforts to implement innovation in medicine, using the experience and resources of their countries.
Bernd Gergen, the High-Tech Gr?nderfonds Senior Investment Manager: Joining forces with the right people is a key success factor in creating and maintaining sustainable development of the companies not only in biotechnology but also in the venture capital industry. That is why we are very pleased that Maxwell Biotech joins the list of our partners and look forward to more successful projects that will have a beneficial impact on the development of our portfolio companies, our institutions and our markets.
Maxwell Biotech and HTGF actively invest in biotech companies engaged in developing innovative therapeutic and diagnostic products, medical equipment and related products and technologies. The funds have already got a positive experience in the implementation of joint projects: in March 2012 Maxwell Biotech and HTGF announced the first such project, which resulted in investments in the MYR GmbH, a HTGF portfolio company, as well as the Company Gepatera JSC, a Russian biotech company, a resident of Skolkovo Innovation Center Biomedical Cluster.
Dmitri Popov, Maxwell Biotech venture capital fund managing partner: We are very pleased to develop our cooperation with HTGF, which is not restricted to a single transaction and are confident that this agreement will significantly expand our opportunities for further cooperation. Given the successful experience, we hope to build a mutually beneficial and effective partnership, the results of which will have a beneficial effect on the venture capital market development and lead to the emergence of innovative products and technologies.
The result of collaboration between the Maxwell Biotech and HTGF can be co-investing in innovative start-up companies, especially in cases when:
• Synergetic effect for the research activities is expected, undertaken by the existing funds portfolio companies; • The access to health infrastructure in Russia and Germany will create benefits for the development of innovative technologies; • The product under development has a high medical and commercial potential in the Russian and German medical services market.
Yan Ryazantsev, the RVC OJSC investment director: One of the RVC’s investment activities is increasing joint transactions between market participants. This allows funds to exchange experiences in the course of work on one project, to gain access to knowledge and technology of other funds, what greatly accelerates the development of teams professionalism involved in the transaction. Cooperation of Maxwell Biotech and HTGF is a good example of the expert and technological cooperation in biotechnology. The Maxwell Biotech Fund has already gained enough experience to conduct transactions on the international market: it is a significant indicator for RVC confirming that our fund is able to build effective cooperation not only with Russian funds and development institutions, but also with foreign partners.