Success stories

Value creation at Devgen underscores life sciences sector’s potential

" Our Gimv representative played a crucial role in the choices we have made as a company. Gimv’s track record in biotech is of the highest level. "

Flemish agro-biotech company Devgen generates income by licensing technologies and products. Increasingly, it also develops solutions based on proprietary technology. The company has concluded partnerships with top companies like Sumitomo and Monsanto. CEO Thierry Bogaert details how Gimv helped stimulate Devgen’s success and that of the Flemish biotech sector as a whole.

Why was Gimv selected as a financing partner?
Gimv has always been a very logical choice for Devgen. In 1997, Gimv was one of the very few investment companies that had experience in biotechnology. It was also a strong local player. For the start-up company that Devgen was at the time, winning the trust of a major local investor was essential. Local investors understand the market situation and know how to assess a company’s potential. Gimv has played its venture capital investor role immaculately. Also the Flemish government’s “Innovation through Knowledge and Technology” (IWT) programme provided positive impulses for the entire biotech sector.

Did the transfer of know-how play an important role for Devgen?
Gimv’s business know-how and input was vital. Our Gimv representative played a crucial role in developing the business plan, devising the strategy and defining the choices we have made as a company. Gimv’s track record in biotech is of the highest level. Gimv is one of the better and more committed biotech investors in Europe and has a strong investment team.

What are Gimv’s strongest points?
Gimv does not work like closed funds, which will start to divest after a set period. Gimv’s commitment exceeds the customary three to five years. For the sector we operate in, this is vital, as biotech companies need some time to prove their worth on the market. Colleagues like Ceres, Innogenetics and Ablynx had similar experiences. Moreover, Gimv’s approach allows for divestments to be planned more strategically, which benefits all parties involved.

What is the added value of the Gimv network?
Gimv has an excellent reputation in the agro-biotech sector. Its interesting network of quality companies is a major added value. Being part of that network opens many doors. Companies are happy to be part of the Gimv portfolio, as it bolsters their credibility. If I were to start another biotech company tomorrow, I would definitely set sail with Gimv again.

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