Naarden, The Netherlands, 18 October, 2017 – BioGeneration Ventures (BGV), a leading Dutch venture capital company, with a focus on early stage European biotech, medtech, and diagnostics companies, announces the sale of SurgVision to Bracco Imaging S.pA., a leading global company in diagnostic imaging. SurgVision, a spin out from the Technical University of Munich and with a close collaboration with the University Medical Center Groningen (UMCG), was founded in 2013, with investments from BGV and De Friesland Participatiefonds. SurgVision focuses on developing a real-time Fluorescence Image Guided Surgery platform, combining targeted imaging agents and a unique camera system for real-time tumor visualization during oncology surgical procedures.
As surgery remains the primary curative option for most solid cancers, a predominant challenge for surgeons during these procedures has been the limitations of visual inspection and digital palpation to distinguish tumors from healthy tissue. Fluorescence Image Guided Surgery represents an innovative intra-operative optical technique aimed at assisting surgeons in distinguishing tumors from surrounding tissue, using a combined infrared camera and contrast agent approach. In this context, SurgVision’s innovative targeting solution is expected to provide significant improvements versus competing modalities and products, due to the extremely advanced features of its optical camera and the very sensitive targeting performance of its new imaging agent.
“With the acquisition of SurgVision, one of the most advanced companies in a very promising field, we intend to address a relevant, unmet medical need for oncology patients who have to undergo tumor removal surgery” said Fulvio Renoldi Bracco, Chief Executive Officer at Bracco Imaging. “SurgVision platform expands our imaging solutions for healthcare professionals in oncology and reinforces our long-lasting commitment to patient care” he concluded.
“The acquisition of SurgVision by Bracco is a vote of confidence for the field of fluorescence image-guided surgery and for the achievements so far by the SurgVision team” said Ton van den Hoven, Chief Executive Officer at SurgVision. “The expertise and commitment from Bracco will allow SurgVision to continue developing a solution that delivers on the potential of important clinical benefits for patients.”
“We are very pleased that SurgVision in which we invested from its inception, is recognized by an industry leader like Bracco as the basis for building a new business” comments Edward van Wezel, managing partner of BGV. “It further validates our strategy of investing in innovative young companies that are truly differentiating, deliver critical improvements to patient care and are attractive to investors as well.”
The sale of SurgVision is the third successful sale of a BGV II portfolio company, after Acerta Pharma and Dezima Pharma. Furthermore, BGV II has three active portfolio companies: Cristal Therapeutics, Staten Biotech and Synaffix. BGV is currently investing from its third fund, with five active investments to date.
For further information:
Edward van Wezel, Managing Partner
Tel: +31 35 69 930 00
LifeSpring Life Sciences Communication (for Dutch media)
Tel: +31 6 538 16 427
Notes to Editors
About BioGeneration Ventures (BGV)
BioGeneration Ventures (BGV) is a venture capital company, with a focus on early stage European biotech, medtech, and diagnostics companies. BGV has a strong track record of significant financial returns through investing in innovations in healthcare and providing the expertise to build world-class teams. The Company manages over €100 million of funds investing in areas where true scientific innovations, the unmet medical need, and the potential to demonstrate a significant proof of concept all come together.
BGV strives to work with founding teams to mature science and build companies. The Company uses its experience to guide progress into clinical trials, ultimately leading to successful drug development and value realisation for its investors. BGV applies its expertise in a rigorous process to select the most compelling opportunities with the best prospects for exit.
Historical successful investments include divestment of Dezima Pharma to Amgen for up to USD 1.55 billion in total deal value and in Acerta Pharma for up to USD 7 billion with a guaranteed payment of USD 4 billion. Both companies were co-founded by BGV in 2012 and 2013 respectively. The Acerta Pharma sale was the largest exit ever of a privately held European biotech company.
BGV is based in Naarden, The Netherlands, and closely collaborates with Forbion Capital Partners.
About Bracco Imaging
Bracco Imaging S.p.A., part of the Bracco Group, is one of the world’s leading companies in the diagnostic imaging business. Headquartered in Milan, Italy, Bracco Imaging develops, manufactures and markets diagnostic imaging agents and solutions that meet medical needs.
Bracco Imaging offers a product and solution portfolio for all key diagnostic imaging modalities: X-ray Imaging (including Computed Tomography-CT, Interventional Radiology, and Cardiac Catheterization), Magnetic Resonance Imaging (MRI), Contrast Enhanced Ultrasound (CEUS), Nuclear Medicine through radioactive tracers. The diagnostic imaging offer is completed by several medical devices and advanced administration systems for contrast imaging products in the fields of radiology.
The Company operates in more than 100 markets worldwide, either directly or indirectly, through subsidiaries, joint ventures, licenses and distribution partnership agreements. With an on-going research covering all key modalities, Bracco Imaging has a strong presence in key geographies: North America, Europe and Japan operating through the Joint Venture Bracco-Eisai Co. Ltd. The Company also operates in Brazil, South Korea, and China through the Joint Venture Bracco Sine Pharmaceutical Corp. Ltd.
Operational investments have been made in order to achieve top quality and compliances with a sustainable eco-friendly production. Manufacturing activities are located in Italy, Switzerland, Japan, China, and Germany.
Bracco Imaging is an innovative Research and Development (R&D) player with an efficient process oriented approach and a track record of innovation in the diagnostic imaging industry. R&D activities are managed in the three Research Centres located in Italy, Switzerland, and USA.
To learn more about Bracco Imaging, visit www.braccoimaging.com.
SurgVision is a high-tech innovative start-up company specialized in developing Fluorescence Image Guided Surgery platform solutions using high-definition cameras and tracers.
SurgVision was founded in August 2013, as a spin-off of the Technical University of Munich and funded by De Friesland Participatiefonds and BioGeneration Ventures.
SurgVision is headquartered in ‘t Harde, The Netherlands.
To learn more about SurgVision, visit www.surgvision.com.