TVM Capital Life Science announces successful launch of its partnership with Chorus – supporting the implementation of the firm’s project focused life science investment strategy
MONTREAL, Oct. 25, 2012 /CNW Telbec/ – Today, TVM Capital Life Science announced the successful implementation of its strategic partnership with Chorus. Chorus, an autonomous unit of Eli Lilly and Company, is a global, early‐phase drug development network that focuses on designing and executing lean and highly focused development plans that cost-effectively progress potential medicines from candidate selection to clinical proof‐of‐concept (poc). As such, Chorus will play an important role in TVM Capital Life Science’s new approach to develop pharmaceutical assets to a human poc in single asset companies. This approach has proven to be highly capital efficient through a high degree of outsourcing and low investments in overhead while creating the opportunity for faster exits through a trade sale to a pharmaceutical player looking to build its pipeline without having to take on legacy companies around the products that appeal to them. Chorus draws on internal Lilly skills, contract research organizations, and external consultants with very specific areas of expertise.
“We are very impressed by the speed and commitment with which Lilly did set up a Chorus team in Montreal and we have already received a lot of very positive feedback from the Quebec life science business community for the work that Chorus is doing with TVM Capital Life Science. Together we are at the forefront of executing on this efficient and effective project focused company approach for funding biotech innovation in drug discovery and drug development, creating sustainable value for patients, the pharmaceutical industry, and our investors” said Dr. Hubert Birner, Managing Partner of TVM Capital Life Science.
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About TVM Capital Life Science
TVM Capital Life Science is providing venture capital to the international pharmaceutical, biopharmaceutical and medical technology industries with more than 25-years of transatlantic investment track record and in excess of US$1.1bn under management. The Life Science Investment Group’s mission is to invest in the development of exciting early stage drug candidates and companies in the medical field that are or aspire to be innovative leaders in their market segment. Since 1984, TVM Capital Life Science made 120 investments in life science companies in Europe and the United States and exited from 82 companies, including nearly 40 initial public offerings on the NASDAQ, and the London, Frankfurt, Zurich and Vienna Stock Exchanges and 25 trade sales and mergers. The investment team combines long-standing international investment and company building experience with their track record of dedicated board work, extensive global networks in the world of life science research and product development and a direct knowledge of the local markets. TVM Capital Life Science operates with an integrated team of investment professionals from its offices in Montreal, Munich and Boston.
Lilly, a leading innovation-driven corporation, is developing a growing portfolio of pharmaceutical products by applying the latest research from its own worldwide laboratories and from collaborations with eminent scientific organizations. Headquartered in Indianapolis, Indiana, Lilly provides answers – through medicines and information – for some of the world’s most urgent medical needs. Eli Lilly Canada, headquartered in Toronto, Ontario, employs more than 500 people across the country. Additional information about Eli Lilly Canada can be found at www.lilly.ca