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Amakem spins off from Devgen; brings in €1.5mm in seed money
01 Apr 2010
Devgen NV (now focused on crop enhancement technology) has spun off the assets and IP from its former pharma division into Amakem NV (respiratory and ophthalmic compounds). The newly formed company simultaneously raised €1.5mm ($2mm) in seed money from lead investor Lombard Risk Management (LRM), Life Sciences Research Partners, and Vlaams Innovatiefonds--Flemish Innovation Fund (VINNOF). Devgen will retain a 21% stake in Amakem.
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