Venture Capital: MIG funds and Global Fund chance to exit

Closed-End Funds

The HMW underwriter AG is able to announce the venture capital fund, the "MIG" series and the "Global Chance Fund" in 2012, the second exit. Participation in the Corimmun GmbH was sold to the pharmaceutical subsidiary of Johnson & Johnson. Fund investors have in part on payouts for the exit.

The Biotechnolgieunternehmen is a spin-off of the Universities of Tübingen and Würzburg, and uses the research results to develop novel drugs for cardiovascular disease and clinically prüfen.Vor of the transaction were also administered in addition to the HMW GFC Global Chance Fund (1.64 percent the shares of common stock), the MIG Fund 5 (9.38 percent) and 11 (16.49 per cent stake) to Corimmun. "The fund is it is a very lucrative deal," says CEO Matthias HMW Hallweger. Have caused a stir here in particular that Janssen-Cilag/Johnson & Johnson for an early phase II product outputs a three-digit million euro amount as the purchase price in addition to a "milestone" other dependent "earn out" arrangement.

About the actual purchase price for 100 percent of the participants have kept silent. Industry sources said it should, however, be some 100 million U.S. dollars. Beyond the sale, so Hallweger, were previously involved in fund management companies in the spin-out Advance Cor, which continues not Johnson & Johnson acquired projects, continue to participate. "This completes the economically very attractive package deal".


Since the foundation was Corimmun three rounds of financing (seed, 2006, 2008 Series A, Series B 2010), funded with a total of approximately 13.5 million euros. MIG was going the rounds of lead investor A and B.

The MIG-Fonds 5 comes to HMW-figures at an investment of 1.7 million payment on a first-rate repayment of 7.86 million euros (of which approximately 1.55 million euros in escrow 3 of 24 over the next few months is resolved). It adds a potential milestone payment in three to four years of further € 8.58 million, which would amount, a possible total revenue of 16.4 million €. For an example of a investor who has invested 10,000 euros, this means concretely in each step a distribution of 876 € (that is, 8.76 percent of its investment) by the closing, an additional 120 euros (1.2 percent) after twelve months, and 96 euros (0.96 percent) after 24 months so that he - if not a guarantee event occurs - a total of 1092 € (10.92 percent) is obtained. The agreed clinical milestone should be reached, the investor will be distributed just in the best case, a total of 2285 € (22.85 percent), according to HMW further € 1193 (11.93 percent).

Investors in the MIG 11 have been paid two million euros. The first repayment rate will be 12.13 million HMW investor information € (of which approximately € 2.73 million in escrow that will be resolved over the next 24 months). The potential milestone payments in three to four years is further € 15.09 million (possible total revenue 27.2 million euros). For the 10,000-euro investors that means in each step: 1.271 € paid to the closing, another 205 € and 164 € after twelve months to 24 months. Unless a warranty claim occurs it receives a total of 1640 €, according to HMW. If the agreed clinical milestones are reached, there is another 2040 €, so that the investor receives, at best, a total of 3679 €.

Finally, the GFC has been involved with a deposit of 300,000. The repayment rate is for first-HMW-data 1.37 million euros (about 271,000 Euros in escrow that will be resolved over the next 24 months). The achievement of the milestone would bring another 1.5 million euros (possible total revenue: 2.8 million €). For example, investors who invested 10,000 euros, which means in stages, first € 368 with the closing, an additional 50 € and 40 € after twelve months (0.4 percent) after 24 months so that he - if no warranty occurs - according to the underwriter receives a total of 459 €. If the agreed clinical milestones are reached, there is another 501 €. This results in the best case, a total of 960 €.

Closed-End Funds
Venture Capital: MIG funds and Global Fund chance to exit

The HMW underwriter AG is able to announce the venture capital fund, the "MIG" series and the "Global Chance Fund" in 2012, the second exit. Participation in the Corimmun GmbH was sold to the pharmaceutical subsidiary of Johnson & Johnson. Fund investors have in part on payouts for the exit.

The Biotechnolgieunternehmen is a spin-off of the Universities of Tübingen and Würzburg, and uses the research results to develop novel drugs for cardiovascular disease and clinically prüfen.Vor of the transaction were also administered in addition to the HMW GFC Global Chance Fund (1.64 percent the shares of common stock), the MIG Fund 5 (9.38 percent) and 11 (16.49 per cent stake) to Corimmun. "The fund is it is a very lucrative deal," says CEO Matthias HMW Hallweger. Have caused a stir here in particular that Janssen-Cilag/Johnson & Johnson for an early phase II product outputs a three-digit million euro amount as the purchase price in addition to a "milestone" other dependent "earn out" arrangement.

About the actual purchase price for 100 percent of the participants have kept silent. Industry sources said it should, however, be some 100 million U.S. dollars. Beyond the sale, so Hallweger, were previously involved in fund management companies in the spin-out Advance Cor, which continues not Johnson & Johnson acquired projects, continue to participate. "This completes the economically very attractive package deal".

Since the foundation was Corimmun three rounds of financing (seed, 2006, 2008 Series A, Series B 2010), funded with a total of approximately 13.5 million euros. MIG was going the rounds of lead investor A and B.

The MIG-Fonds 5 comes to HMW-figures at an investment of 1.7 million payment on a first-rate repayment of 7.86 million euros (of which approximately 1.55 million euros in escrow 3 of 24 over the next few months is resolved). It adds a potential milestone payment in three to four years of further € 8.58 million, which would amount, a possible total revenue of 16.4 million €. For an example of a investor who has invested 10,000 euros, this means concretely in each step a distribution of 876 € (that is, 8.76 percent of its investment) by the closing, an additional 120 euros (1.2 percent) after twelve months, and 96 euros (0.96 percent) after 24 months so that he - if not a guarantee event occurs - a total of 1092 € (10.92 percent) is obtained. The agreed clinical milestone should be reached, the investor will be distributed just in the best case, a total of 2285 € (22.85 percent), according to HMW further € 1193 (11.93 percent).

Investors in the MIG 11 have been paid two million euros. The first repayment rate will be 12.13 million HMW investor information € (of which approximately € 2.73 million in escrow that will be resolved over the next 24 months). The potential milestone payments in three to four years is further € 15.09 million (possible total revenue 27.2 million euros). For the 10,000-euro investors that means in each step: 1.271 € paid to the closing, another 205 € and 164 € after twelve months to 24 months. Unless a warranty claim occurs it receives a total of 1640 €, according to HMW. If the agreed clinical milestones are reached, there is another 2040 €, so that the investor receives, at best, a total of 3679 €.

Finally, the GFC has been involved with a deposit of 300,000. The repayment rate is for first-HMW-data 1.37 million euros (about 271,000 Euros in escrow that will be resolved over the next 24 months). The achievement of the milestone would bring another 1.5 million euros (possible total revenue: 2.8 million €). For example, investors who invested 10,000 euros, which means in stages, first € 368 with the closing, an additional 50 € and 40 € after twelve months (0.4 percent) after 24 months so that he - if no warranty occurs - according to the underwriter receives a total of 459 €. If the agreed clinical milestones are reached, there is another 501 €. This results in the best case, a total of 960 €.