Gilde Healthcare Partners invests in Conatus Pharmaceuticals, Inc.
3 January 2007
UTRECHT, The Netherlands, January 3, 2007 – Gilde Healthcare Partners today announced its investment in Conatus Pharmaceuticals, Inc. Conatus Pharmaceuticals completed a $5.5 million first closing as part of a $27.5 million Preferred Stock private placement financing. Other investors include Aberdare Ventures, Advent Venture Partners and Bay City Capital. Conatus will use the proceeds to advance the clinical development of a novel, clinical stage drug candidate the Company has licensed from Roche, to identify additional in-licensing opportunities, and to fund general business operations.
As part of the financing, Marc Perret from Gilde Healthcare Partners, Patrick Lee from Advent and William Gerber from Bay City Capital will join the Conatus Board of Directors. David Hale, who has worked with the Conatus Team in the formation of the company, will join the Conatus Board as an independent Director. Paul Klingenstein from Aberdare Ventures and Steven J. Mento, Ph.D., Co-founder, President and CEO of Conatus will continue as company Directors.
“This financing has enabled Conatus to gain exclusive rights and initiate internal development of a novel clinical stage drug candidate for the treatment of liver disease associated with Hepatitis C infection,” said Steven J. Mento Ph.D. “The Conatus management team pioneered the development of novel drugs in this space and looks forward to bringing new drug candidates forward into clinical trials in this under-served patient population.”
“Besides the quality of the lead drug candidate, we are impressed by Conatus’ cohesive and experienced team,” said Marc Perret. “The team has a proven track-record of success in the field as illustrated during their tenure at Idun Pharmaceuticals.”
About Conatus Pharmaceuticals
Conatus Pharmaceuticals Inc. is a privately-held specialty pharmaceutical company engaged in the development of innovative human therapeutics to treat liver disease. Chronic liver disease affects millions of people worldwide and can be caused by many different conditions or "insults" to the liver including viral infection, obesity, chronic alcohol abuse or autoimmune diseases. Conatus was founded by the executive management team of Idun Pharmaceuticals in July 2005 following the successful sale of Idun to Pfizer.
About Gilde Healthcare Partners
Gilde Healthcare Partners (Utrecht, The Netherlands) manages over EUR 200 million in venture funds focused on privately-held start-ups across the healthcare sector including (bio)pharmaceuticals, diagnostics, medical devices and enabling technologies.
Gilde Healthcare II* held a First Closing with EUR 85 million (USD 112 million) in commitments. A final close of EUR 125 million (USD 165 million) is planned in 2007.
The healthcare funds are managed by industry professionals with a balanced mix of operational and venture capital expertise. Gilde has the experience and resources to assist companies at any stage of development and provide support in M&A and public listing.
