ZUG, SWITZERLAND -- 07/31/07 --
Zug/Munich, July 31, 2007 - The Partners of Global Life Science
Ventures (GLSV) are pleased to announce the appointment of Stephen J.
McCormack, PhD as a Managing Director of GLSV AG. Dr. McCormack (age
42) had joined GLSV in their Zug office in May 2006 and became
Partner in November 2006.
From the start Dr. McCormack has been active in identifying and
assessing investment opportunities, which have already led to two
investments where he represents GLSV as chairman or director on the
supervisory boards. The companies concerned are IMI AG based in
Zürich/ Bonn and Coapt Inc, from Palo Alto/ USA which develop retina
implants for the blind, respectively bioabsorbable implants for use
in aesthetic surgery.
Dr. McCormack's additional responsibility as a Managing Director in
Zug will also allow him to draw on his previous operational
experience as a co-founder and CEO of two US-based biotech companies.
This will benefit the GLSV partnership, which plans further expansion
of its team, and its portfolio that has grown to 34 investments
throughout Europe and the USA.
Dr. Peter Reinisch, Partner, stated: "I welcome Stephen on our
managing board and am convinced that he will quickly assume and share
those additional responsibilities in running our operations. His
strategic expertise will also be of significant value to GLSV as we
manage the growth of our firm."
Dr. Hans A. Küpper, Partner, added: "With this appointment, we
install the same co-management system as in our Munich office and
keep pace with the growing activities of our group, and particularly
of our office in Zug."
The GLSV team today consists of seven investment professionals,
including five Partners, who bring a wealth of management expertise
in the pharmaceutical industry and operational experience as
entrepreneurs of biotech and medtech start-ups, as well as venture
capital know-how. The team is ideally positioned to exploit the
attractive investment opportunities in the life science industry.
About Global Life Science Ventures:
GLSV is a leading, independent venture capital fund focusing
exclusively on the life sciences. With offices in Switzerland and
Germany, GLSV is dedicated to supporting early-stage companies
originating from universities, scientific institutions or industry,
but also invests in selected later-stage companies, including
buy-outs. The group currently advises and manages funds totaling more
than EUR 200 million. GLSV has now financed 34 innovative life science
companies throughout Europe and the USA, thirteen of which have
completed an exit through IPO, trade sale or M&A. Since 1996, GLSV
has built up a broadly diversified portfolio of companies in
pharmaceuticals, diagnostics, medical devices, and biotechnology.
Global Life Science Ventures
Industry-born team - Proven track record - Global perspective
Switzerland Germany
GLSV AG GLSV GmbH
Postplatz 1, P.O. 626 Von-der-Tann-Str. 3
CH - 6301 Zug D - 80539 München
Tel. +41 (0)41 727 19 40 Tel. +49 (0)89 288 151 0
Fax +41 (0)41 727 19 45 Fax +49 (0)89 288 151 30
www.glsv-vc.com
mailbox@glsv-vc.com
For additional information, please contact:
Rochat & Partners MC Services (for Germany)
Jonathan Leighton or Christophe Lamps Raimund Gabriel
Tel. +41 22 786 54 55 Tel. +49 (0) 89 210 228 30
Fax +41 22 786 54 58 Fax +49 (0) 89 210 228 88
E-mail: jleighton@rochat-pr.ch E-mail: gabriel@mc-services.de
clamps@rochat-pr.cz
http://hugin.info/137249/R/1142767/216383.pdf
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