DGAP-News: EDMOND DE ROTHSCHILD INVESTMENT PARTNERS SELLS

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Aug 26, 2014 at 7:00 AM

DGAP-News: EDMOND DE ROTHSCHILD INVESTMENT PARTNERS SELLS ITS PARTICIPATION IN SAPIENS STEERING BRAIN STIMULATION, DEVELOPER OF DEEP BRAIN STIMULATION SOLUTIONS TO MEDTRONIC

DGAP-News: Edmond de Rothschild Investment Partners / Key word(s): Investment EDMOND DE ROTHSCHILD INVESTMENT PARTNERS SELLS ITS PARTICIPATION IN SAPIENS STEERING BRAIN STIMULATION, DEVELOPER OF DEEP BRAIN STIMULATION SOLUTIONS TO MEDTRONIC 26.08.2014 / 12:40 --------------------------------------------------------------------- EDMOND DE ROTHSCHILD INVESTMENT PARTNERS SELLS ITS PARTICIPATION IN SAPIENS STEERING BRAIN STIMULATION, DEVELOPER OF DEEP BRAIN STIMULATION SOLUTIONS TO MEDTRONIC This operation is the sixth trade sale of BioDiscovery 3, the fourteenth from the BioDiscovery funds Edmond De Rothschild Investment Partners (EdRIP) announced today that its BioDiscovery 3 portfolio company, Sapiens Steering Brain Stimulation (Sapiens SBS) a privately held developer of deep brain stimulation (DBS) technologies, has been acquired by Medtronic, Inc. (NYSE: MDT) for approximately $200 million in an all-cash transaction. Sapiens SBS, located in Eindhoven, The Netherlands, is developing a DBS system that features an advanced DBS lead with 40 individual stimulation points. This advanced system is designed to allow more precise stimulation of the intended target in the brain and may potentially result in reduced procedure time and fewer stimulation-induced side effects. Employees at the Eindhoven facility will continue to work toward bringing this technology to market. In the future, the site will serve as a global research and development center for Medtronic's Neuromodulation business, complementing its existing R&D operations. Medtronic and Sapiens SBS will work to finalize product development and begin clinical research to integrate these technologies into an expanded portfolio of DBS products within Medtronic's Neuromodulation business. EdRIP co-led the series A round of Sapiens SBS as a spin-off from Philips Healthcare in 2011 to back the founders Sjaak Deckers, Hubert Martens and Michel Decre who believed that a much better resolution of the applied current in deep brain stimulation (DBS), could significantly improve the therapeutic window of DBS. In a very short time frame, Sapiens confirmed its initial hypothesis in acute human trials in Parkinson patients and became a clear leader in developing significantly improved devices for DBS therapeutic applications. In 2013, medtech veteran Jan Keltjens became the company's CEO and under his leadership the product was further advanced and refined. "Since 2011, Sapiens SBS employees have worked tirelessly to develop an advanced deep brain stimulation system," said Jan Keltjens, chief executive officer at Sapiens SBS. "We are excited to join Medtronic, and look forward to collectively working to bring this and other novel technologies and therapies to neuromodulation patients worldwide that could benefit from them." "In only about 3 years, Sapiens SBS has achieved a lot. Also, the way founders, management, board and investors have worked together in this company is, in my opinion, quite exceptional. Through this trade sale, in addition to making good return for our Limited Partners, it is very satisfying to see now the Sapiens' products integrated into the neurostimulation franchise of the DBS market leader, as it gives this technology the best chances of helping patients in the near future". Sapiens was the thirteenth investment of BioDiscovery 3, a specialized life science investment fund managed by Edmond de Rothschild Investment Partners. Raised in 2008, the Fund has invested from 2008 to 2012 in a portfolio of 14 companies. So far six of these companies have been sold through private transactions and two have been listed on public financial markets. About Edmond de Rothschild Investment Partners Edmond de Rothschild Investment Partners is the private equity affiliate of the Edmond de Rothschild Group, which is specialized in asset management and private banking (EUR 133.6bn under management, nearly 2,800 employees spread across 31 offices, branches and subsidiaries throughout the world). Founded in 1953, the Group has been chaired since 1997 by Baron Benjamin de Rothschild. Paris-based Edmond de Rothschild Investment Partners is dedicated to minority investments into privately-owned companies. It currently has more than EUR1 billion under management which is being invested primarily as life sciences venture capital and growth capital. Within Edmond de Rothschild Investment Partners, its Life Sciences Team of eight professionals brings together over 60 years of experience in the Life Science industry and more than 100 years of private equity and venture capital experience. The Team has raised EUR450 million through its Biodiscovery franchise and is currently investing BioDiscovery 4. Since inception, BioDiscovery Funds have invested in 49 companies, of which 13 have been sold and 12 listed on public financial markets. 19 are still active in the portfolios. BioDiscovery Funds, including BioDiscovery 4, are venture capital funds dedicated to professional investors. These funds are not authorized by the AutoritÃ© des MarchÃ©s Financiers and may adopt special investment rules. For more information : www.edrip.fr Contacts Edmond de Rothschild Investment Partners Olivier Litzka o.litzka@edr.com Tel: +33 1 40 17 27 46 --------------------------------------------------------------------- 26.08.2014 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------- 283934 26.08.2014

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