TVM Raises White Flag On Biovertis & Morphochem

 
• By Mike Ward
  
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Denoive acquires from TVM Capital both Biovertis and Morphochem, plus a Phase II ready antibiotic asset, for an initial 4% stake worth €900,000. Since their formation, Biovertis and Morphochem have had more than $96m invested in them.

French biotech Deinove has acquired, through a contribution-in-kind transaction, the entire capital of Austrian biotech Biovertis AG and its wholly owned German subsidiary Morphochem AG. The deal also provides Deinove with MCB3837, an IV compound developed by Morphochem to treat severe gastrointestinal infections cause by Clostridium difficile which is currently ipoised to enter Phase II.

Under the terms of the deal, Biovertis and Morphochem shareholders will receive 500,001 Denoive shares – worth about €900,000 –...

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