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Gimv exits Covagen after six years

26 Aug 2014

covagenInvestment firm Gimv has exited its portfolio company Covagen to an affiliate of the Janssen Pharmaceutical Companies of Johnson & Johnson after more than six years.

Givm said that it made a return that is far above its historic average without giving any further details.

The Swiss company is focused on developing novel drugs for the treatment of cancer and inflammatory diseases.

Last December Gimv led a CHF42m Series B round for the company, which was among Europe’s largest funding round for a biotech company.

Partner at Gimv’s health and care platform Karl Nägler said, “We have known Covagen and its management team more than six years.

Since 2008, we have been following the successful development of the company. Today, we are proud to participate in its success after such a longstanding and close relationship.”

Last month Gimv sold its stake in cinema training, maintenance and support services business dcinexfor a ‘high single-digit return’.

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