ANNUAL REPORT 2007 | 2008 - Gimv

GIMV IS A REFERENCE IN THE BIOTECH
MARKET
VALUE CREATION AT DEVGEN PROVES
SECTOR’S POTENTIAL
Flemish agro-biotech company deVGen is generating income
by licensing technologies and products. Increasingly it is also
developing solutions based on its own proprietary technology.
DeVGen has concluded partnerships with top companies
like Sumitomo and Monsanto. CEO Thierry Bogaert tells how
Gimv helped stimulate deVGen’s success and that of Flemish
biotech.
Why did deVGen chose Gimv
as a fi nancing partner?
“When we set out to sea in 1997 with Gimv, this was a logical
choice for deVGen. Gimv had experience in biotechnology –
something rare at the time – and was also a strong local player.
This is important: a start-up company needs to win the trust
of a major local investor. This is essential. The local investor
knows the market situation and can correctly assess the potential
existing in the company. Gimv has played its venture
capital investor role immaculately. Indeed, the biotech sector
as a whole has received many fresh impulses from the Flemish
government’s “Innovation through Knowledge and Technology”
(IWT) programme.”
Was the transfer of knowhow from Gimv
important for deVGen?
“Gimv’s input, also from outside the fi nancial fi eld, was vital
for deVGen. The Gimv representative played a crucial role in
developing the business plan, devising the strategy and defi ning
the choices we have made as a company. Gimv’s track record
in biotech is of the highest level. Gimv is one of the better and
more committed biotech investors in Europe and has a strong
investment team.”
Thierry Bogaert - CEO deVGen
What for you are Gimv’s strongest points?
“Gimv does not work like closed funds, which after a predefi ned
number of years start looking to divest. Its time horizon is longer
than the customary three to fi ve years. This is necessary in life
sciences and enables exits to be planned more strategically. A
biotech company needs more time to prove itself on the market.
We have seen this with colleagues like Ceres, Innogenetics and
Ablynx.”
Does the Gimv network offer an added value for
deVGen?
“Gimv is a well reputed player in the agro-biotech world with an
interesting network of quality companies. This is a major added
value. Doors open to people in this network. Companies are
happy to be part of the Gimv portfolio, it is a reference of their
credibility. If tomorrow I were to again start a biotech company,
I would again set sail with Gimv.”
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