- Investment Period: 7 years
- Acquisition by Bayer Schering Pharma, 2008, for €210 million (~$300 million USD) in an all cash deal.
Bayer HealthCare AG acquired the pharmaceutical business of Direvo Biotech AG to strengthen its research competence in biologicals for its pharmaceutical division Bayer Schering Pharma. TVM Capital was an initial investor in the company, and throughout subsequent rounds of financings.
TVM Capital General Partner Dr. Hubert Birner served as Chairman of the Supervisory Board from 2002 until this transaction. It was under his leadership, that the company built an impressive portfolio of collaborations with both pharmaceutical (Pfizer and AstraZeneca) and food companies (Danisco, Genecor and Nestle). TVM Capital also helped the company through a major restructuring in 2005 when the limited availability of funds forced the company to refocus its strategy away from proprietary product development and a complete change in management.