Five Corners Capital Inc. Appointed as New General Partner for Former Ventures West-Managed Funds
(firmenpresse) - WHITE ROCK, BRITISH COLUMBIA -- (Marketwired) -- 10/02/13 -- Five Corners Capital Inc. (5CC), a newly formed investment firm, announced today that is has been appointed as the General Partner to manage the remaining portfolio of biotechnology and technology investments of VW8LP and VW7LP, formerly managed by subsidiaries of Ventures West Capital Ltd. Ventures West Capital, one of Canada's oldest, largest and most established venture capital firms, will wind down active operations in October after being in business since 1973.
5CC was recently formed by Kenneth Galbraith, who has been a General Partner at Ventures West Capital since 2007 and Dr. Gary Bridger, who served as a Venture Partner for Ventures West Capital from 2010 to 2012. Galbraith and Bridger collectively have more than fifty years of operating and investing experience gained principally in the North American biotechnology sector. The principals of 5CC have built a solid reputation, global networks and track record of successful investments within the biotechnology sector having previously been involved as executives, directors, advisors and investors in many biotechnology companies in North America, including QLT ( NASDAQ: QLTI), AnorMED ( acquired by Genzyme), Genzyme (acquired by Sanofi ) (NYSE: SNY), Oncogenex (NASDAQ: OGXI), Novadaq (NASDAQ: NVDQ), Angiotech (NASDAQ: ANPI), Tekmira (NASDAQ: TKMR) and Cardiome (NASDAQ: CRME).
"We are extremely pleased to be able to continue working proactively with world-class management teams and our co-investors to help the companies held in these funds achieve their potential success, and provide our fund holders with investment returns," said Kenneth Galbraith, Managing Director of 5CC.
"After years of development and investment, many of the remaining portfolio companies are close to achieving value-driving milestones within the next several years in a rapidly improving exit environment for private-stage companies," Galbraith added.
Among the remaining active portfolio investments of VW7LP and VW8LP are the following companies:
ABOUT FIVE CORNERS CAPITAL INC.
Five Corners Capital Inc. (5CC) is a newly formed investment management company with responsibility as the General Partner of investment partnerships, VW8LP and VW7LP, formerly managed by subsidiaries of Ventures West Capital Ltd. Managing Directors of 5CC, Mr. Kenneth Galbraith and Dr. Gary Bridger, collectively have more than 50 years of operating and investment experience gained primarily in the healthcare sector.
Mr. Galbraith began his career in 1987 with Canada's first biotechnology company, QLT, where he worked as an executive until departing in 2000 when QLT's market capitalization exceeded US$5 billion. He also previously served as Chairman and Acting CEO of AnorMED until its sale to Genzyme Corp in 2006 for $600 million in an all-cash acquisition and as a General Partner at Ventures West Capital since 2007.
Dr. Bridger received a Ph.D. in Organic Chemistry from the University of Manchester Institute of Science and Technology (United Kingdom) and completed a post-doctoral fellowship at Boston College. He co-founded AnorMED in 1996 and served as its Chief Scientific Officer at the time of its acquisition by Genzyme in 2006. Dr. Bridger served as a Venture Partner for Ventures West Capital from 2010 to 2012.
Additional information is available at .
Contacts:
Media: Karen Cook
604-551-9074
Other: Kenneth Galbraith
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Datum: 02.10.2013 - 08:00 Uhr
Sprache: Deutsch
News-ID 1269021
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