SYNGENTA TO INVEST IN VENTURE FUND FOCUSED ON PLANT SCIENCE.Syngenta, Basel, Switzerland, has announced the launch of a $100m venture fund, LSP LSP - Label Switched Path BioVentures, based in Boston to be managed by Life Sciences Partners (LSP), a biotech venture capital firm. Funds will be invested over a three to five year period as appropriate opportunities arise. David Jones David Jones is a common name, particularly in Wales, and there have been several well-known individuals with this name. Variations include Dave Jones and Davy Jones. , Head of Business Development at Syngenta, said: "This Fund will invest in growth companies and technology start-up opportunities. The investment scope of the Fund is crop biotechnology, crop protection, professional products and new growth areas such as biomaterials and biofuels. Along with sound financial returns, we aim to secure early co-operation with emerging innovators in our sector." "We are excited about cultivating creative opportunities through this new Fund and, in particular, look forward to working with Syngenta," said Martijn Kleijwegt, Managing Partner of LSP. "We expect LSP BioVentures to attract and support entrepreneurial talent and technology that will benefit from being in a ventures-driven environment." By appointing LSP as the Fund manager, Syngenta selected a leading venture capital company with an outstanding track record of success in investing in technology-based growth companies. Since 1988, LSP's management has invested in over 40 companies, and has contributed to the launch of biotech companies such as Qiagen, Rhein Biotech and Crucell. Including the new fund, LSP has $450m under management. Syngenta is a world-leading agribusiness committed to sustainable agriculture through innovative research and technology. The company is a leader in crop protection, and ranks third in the high-value commercial seeds market. Sales in 2005 were approximately $8.1 billion. Syngenta employs more than 19,000 people in over 90 countries. Syngenta is listed on the Swiss stock exchange (SYNN) and in New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of (NYSE NYSE See: New York Stock Exchange :SYT SYT Sweet Young Thing SYT Save Your Time (software) SYT See You Tomorrow SYT Scottish Youth Theatre SYT See You There SYT Standard Young Tableaux (enumerative combinatorics) SYT South Yorkshire Times ) . For more information, visit http://www.syngenta.com or call 917/322-2569. LSP (Life Sciences Partners) is a pan-European life science venture group with offices in Amsterdam, Munich and Boston. The group has invested in over 40 life sciences companies since 1988 and stood at the basis of companies such as Crucell, Rhein Biotech, Pharming pharming (fär`mĭng), the use of genetically altered livestock, such as cows, goats, pigs, and chickens, to produce medically useful products. and Qiagen. Recent exits include Devgen (Euronext), Jerini (Frankfurt Stock Exchange Frankfurt Stock Exchange The largest of Germany's eight securities exchanges, operated by Deutsche Borse AS. ), DNAge (sold to Pharming) and KuDOS (sold to AstraZeneca). Current portfolio companies include BioXell (Italy), Celmed (Canada), IDEA (Germany), Octoplus (Netherlands), OMS OMS - Opportunity Management System (Belgium), Santarus (USA), and Zealand (Denmark). The LSP group has $450m under management. For more information, visit http://www.lspvc.com. |
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