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AVONTEC RAISES $18 MILLION

August 12, 2005

German biotech firm Avontec GmbH announced on Thursday that it has raised €14.5 million ($18 million) in a second round of financing that combined an equity deal with a cross-licensing agreement. The deal was co-led by Japanese biotech firm AnGes MG, through its investment vehicle Bio-Sight Capital, and DVC Deutsche Venture Capital. Swiss-based VC firm BioMedinvest AG and German government financing body KfW also participated in the round, as did the existing investors, Innovations-Capital Goettingen, ubg Goettingen, Hildesheim, and Mediport Venture Fond II.

Red Herring (http://www.redherring.com/Article.aspx?a=13127&hed=Avontec%2BRaises%2B%2418%2BMillion§or=Regions&subsector=Europe)