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Investments

59

Portfolio Exits

14

Funds

2

About Ascent Biomedical Ventures

Ascent Biomedical Ventures (ABV) is a venture capital firm investing in seed and early-stage biomedical technology companies developing medical devices, biopharmaceuticals, healthcare services, and information technology.

Ascent Biomedical Ventures Headquarter Location

142 West 57th Street, Suite 4A

New York, New York, 10019,

United States

212-303-1680

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Latest Ascent Biomedical Ventures News

Gimv leads Series B round for Covagen

Dec 10, 2013

Gimv leads Series B round for Covagen December 10, 2013 By Iris Dorbian Swiss biopharmaceutical company Covagen has raised CHF 42 million in Series B financing. New investor Gimv led the round with participation from Ascent Biomedical Ventures, Novartis Venture Fund, Edmond de Rothschild Investment Partners, Seroba Kernel Life Sciences, Ventech and MP Healthcare Venture Management. Also, Covagen has named Gimv’s Dr. Karl Naegler and Ascent Biomedical Ventures’ Dr. Avi Kometz to its board of directors. PRESS RELEASE ZURICH-SCHLIEREN, Switzerland, Dec. 9, 2013 – Covagen today announced that the company has secured CHF 42 million in a tranched Series B financing with an option to obtain an additional CHF 14 million that would increase the total amount of the financing round to CHF 56 million. This is one of the largest private financing rounds for a preclinical-stage biotech company in Europe. This financing will mainly support the clinical development of Covagen’s lead FynomAb® COVA322, the first clinical candidate generated using Covagen’s proprietary FynomAb platform technology. This bispecific TNF/IL-17A inhibitor for the treatment of rheumatoid arthritis, psoriatic arthritis and other inflammatory diseases has a novel mechanism of action not accessible with monoclonal antibodies. COVA322 is expected to enter clinical trials in early 2014. In addition, the proceeds from the Series B financing will further advance Covagen’s diverse discovery programs in oncology. Current research is focused on the generation of bi- and trispecific FynomAb drug candidates with tailored architectures and novel modes-of-action in the fields of CD3 therapeutics, immunomodulation and bispecific antibody-drug conjugates (ADCs). The financing is led by new investor Gimv with CHF 8.3 million and includes the participation of new investor Ascent Biomedical Ventures and existing investors Novartis Venture Fund, Edmond de Rothschild Investment Partners, Seroba Kernel Life Sciences, Ventech and MP Healthcare Venture Management, Inc. In conjunction with the financing, Dr. Karl Naegler, Partner Health & Care at Gimv, and Avi Kometz, M.D., partner at Ascent Biomedical Ventures, have joined the board of directors. “Gimv is delighted to lead this round of financing as we believe that Covagen’s capabilities and Fynomer® technology will enable the development of differentiated bispecific therapeutics, FynomAbs, with novel modes-of-action and enhanced efficacy,” said Dr. Karl Naegler, partner at Gimv. “Over the past years, Gimv has developed a strong expertise and network in the biotech sector and specifically in the area of next generation biologics. Our Health & Care team clearly sees the strong market potential for FynomAbs in many different indications, which we expect will be realized through Covagen’s own pipeline development as well as collaborations with biotech and pharmaceutical companies.” Julian Bertschinger, Ph.D., chief executive officer of Covagen, added, “Securing this major investment demonstrates the enthusiasm of our investors and their confidence in Covagen’s FynomAb platform. This financing will allow us to advance our lead product, COVA322, through proof-of-concept studies and support our collaborative relationships. We also would like to welcome Karl and Avi to our board of directors.” Previously, the company had raised a total of CHF 14 million. About Covagen Covagen develops bispecific FynomAbs by fusing its human Fynomer binding proteins to antibodies resulting in therapeutics with novel modes-of-action and enhanced efficacy in the treatment of inflammatory diseases and cancer. Fynomers are small binding proteins that can be engineered to bind an antigen of interest. The ability to fuse Fynomers to multiple sites on an antibody allows Covagen to create FynomAbs with tailored architectures to maximize efficacy. Covagen is a privately held Swiss Biotech company with an internal lead bispecific anti-TNF/IL-17A FynomAb moving towards first-in-human Phase 1 studies in early 2014. In 2012, Covagen entered into a strategic alliance, which was recently expanded, with Mitsubishi Tanabe Pharma Corporation for the development of bispecific FynomAbs. For more information please visit www.covagen.com About Gimv Gimv is a European investment company with over three decades experience in private equity and venture capital. Gimv is listed on NYSE Euronext Brussels. Gimv currently manages around 1.8 billion EUR (including third party funds) of investments in 75 portfolio companies, which jointly realize a turnover of more than EUR 6 billion and employ over 26,000 professionals. As a recognized market leader in selected investment platforms, Gimv identifies entrepreneurial and innovative companies with high-growth potential and supports them in their transformation into market leaders. Gimv’s four investment platforms are: Consumer 2020, Health & Care, Smart Industries and Sustainable Cities. Each of these platforms works with a skilled and dedicated team across Gimv’s home markets of the Benelux, France and Germany and can count on an extended international network of experts. More information on Gimv can be found on www.gimv.com © 2015 Buyouts Insider / Argosy Group LLC

Ascent Biomedical Ventures Investments

59 Investments

Ascent Biomedical Ventures has made 59 investments. Their latest investment was in Retrotope as part of their Series D on August 8, 2020.

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Ascent Biomedical Ventures Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

8/28/2020

Series D

Retrotope

$13.3M

No

3

6/4/2020

Seed VC

Base5 Genomics

$1.05M

Yes

1

5/26/2020

Series C - II

CareDox

$4.85M

Yes

1

11/5/2019

Convertible Note

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$99M

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10

7/30/2019

Series C - II

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$99M

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10

Date

8/28/2020

6/4/2020

5/26/2020

11/5/2019

7/30/2019

Round

Series D

Seed VC

Series C - II

Convertible Note

Series C - II

Company

Retrotope

Base5 Genomics

CareDox

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Amount

$13.3M

$1.05M

$4.85M

$99M

$99M

New?

No

Yes

Yes

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Co-Investors

Sources

3

1

1

10

10

Ascent Biomedical Ventures Portfolio Exits

14 Portfolio Exits

Ascent Biomedical Ventures has 14 portfolio exits. Their latest portfolio exit was Ancora Heart on July 07, 2022.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

7/7/2022

Acquired

$99M

3

7/5/2022

Acq - Pending

$99M

1

7/6/2021

Merger

$99M

1

4/13/2021

Acquired

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$99M

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10

3/10/2020

Acquired

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$99M

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10

Date

7/7/2022

7/5/2022

7/6/2021

4/13/2021

3/10/2020

Exit

Acquired

Acq - Pending

Merger

Acquired

Acquired

Companies

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Valuation

$99M

$99M

$99M

$99M

$99M

Acquirer

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Sources

3

1

1

10

10

Ascent Biomedical Ventures Fund History

2 Fund Histories

Ascent Biomedical Ventures has 2 funds, including ABV II.

Closing Date

Fund

Fund Type

Status

Amount

Sources

12/31/2007

ABV II

Early-Stage Venture Capital

Closed

1

12/31/2005

ABV I

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10

Closing Date

12/31/2007

12/31/2005

Fund

ABV II

ABV I

Fund Type

Early-Stage Venture Capital

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Status

Closed

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Amount

Sources

1

10

Ascent Biomedical Ventures Team

6 Team Members

Ascent Biomedical Ventures has 6 team members, including current Founder, General Partner, Geoffrey W. Smith.

Name

Work History

Title

Status

Steven I. Hochberg

Founder

Current

Geoffrey W. Smith

Founder, General Partner

Current

Jon Edelson

Chief Financial Officer

Current

Arthur Tinkelenberg

Chief Financial Officer

Current

Steven Hochberg

Managing Partner

Current

Name

Steven I. Hochberg

Geoffrey W. Smith

Jon Edelson

Arthur Tinkelenberg

Steven Hochberg

Work History

Title

Founder

Founder, General Partner

Chief Financial Officer

Chief Financial Officer

Managing Partner

Status

Current

Current

Current

Current

Current

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