Biovex is a pioneering biotechnology company developing a new class of potent biologics for the treatment of cancer and prevention of infectious disease. It was acquired in January 2011 by NASDAQ listed Amgen for a price of up to $1 billion – one of the largest-ever for a venture-backed biotechnology company. SEP first invested in Biovex in 2003 and was a supportive and proactive investor, participating in several follow-on financings through to exit. SEP played a key role in the syndicate of investors.
CEO Philip Astley-Sparke commented, ‘We found SEP to be a supportive, honourable and intelligent shareholder. In both scientific and commercial terms SEP was realistic about what was required to take a biotech to exit.’