Forbion Announces Appointment of Philip Astley-Sparke as Venture Partner

NAARDEN, The Netherlands & MUNICH, Germany & BOSTON--(BUSINESS WIRE)--Forbion Capital Partners today announced Philip Astley-Sparke, the former President and CEO of BioVex, has joined the investment team as a venture partner based in Boston, USA. He will work with selected Forbion’s portfolio companies as a board member and/or advisor to help management to execute on their business plans.

Before joining Forbion, Philip served as Vice President and General Manager at Amgen, Inc. until December 2011, following the acquisition of BioVex, Inc. in March 2011. Philip had been President and CEO of BioVex since 2005, during which he achieved several milestones for the company: its relocation from the UK to the US, the formation of a commercial grade manufacturing facility and nascent commercial capabilities, and the successful negotiation with Amgen to acquire BioVex for up to $1bn. Forbion was the largest investor in Biovex, which at the time of exit focused on the development of pioneering first-in-class oncolytic vaccines. Prior to BioVex, Philip was an investment banker with JP Morgan H&Q (Robert Fleming) where he advised on a number of high profile mergers and public financings. He qualified as a Chartered Accountant with Arthur Andersen in London and holds a Bachelor’s Degree in Cellular Pathology and Molecular Pathology from Bristol University (UK).

Commenting on his appointment to Forbion, Philip Astley-Sparke said: "Forbion is one of the leading life science venture companies to invest in disruptive technologies that not only deliver major returns to investors but also enable the development of truly innovative medicines and devices. I look forward to working with the Forbion team in supporting both current and future portfolio companies."

Sander Slootweg, Managing Partner at Forbion Capital Partners added: "We've very much enjoyed working with Philip when he was CEO at BioVex. He has extensive expertise in developing biotechnology companies from the research stage to pre-launch, as well as experience in commercial planning, including setting up commercial scale manufacturing. He has overseen multiple major private and public fundraisings and has considerable M&A and change management experience. His hands on operational experience will complement our investment team's skill base and will be indispensable for identifying new investment opportunities, particularly in the US, as well as advising Forbion’s portfolio companies. With Philip’s appointment, we are in the position to gain additional visibility in the US."

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About Forbion Capital Partners

Forbion Capital Partners is a dedicated Life Sciences venture capital firm with offices in Naarden, The Netherlands, and Munich, Germany. Forbion invests in life sciences companies in drug discovery & development as well as medical device companies addressing substantial unmet medical needs. Forbion’s investment team of nine investment professionals has built an impressive performance track record since the late nineties with successful investments in Rhein Biotech, Crucell, Neutec, Glycart, Borean, Impella, Alantos, Acorda, Fovea, PanGenetics, Argenta Discovery and most recently Biovex and Pathway Medical. Current assets under management exceed $550M, split between four active funds and comprising some 28 promising portfolio companies. Forbion Capital Partners Fund II is supported by the European Investment Fund through its ERP and LfA facilities. Forbion co-manages Biogeneration Ventures, an early stage fund focused on (academic) spin-outs and seed investments in the Netherlands. For more information, please visit www.forbion.com.