Ogeda
Country: Belgium
Region: Région wallonne
Investors: SRIW, Vesalius, Capricorn Partners
Starting life as a spin-out from the University of Brussels, drug discovery business Ogeda raised its last round of funding from a group of venture capital investors, including Capricorn Partners, in 2015. With support from its investors, the company developed Fezolinetant, which has potential to treat a number of women’s disorders: hot flashes, uterine fibroids, polycystic ovarian syndrome without the use of hormones.
With phase II studies completed - a major milestone in the company’s development - the business was acquired by Japanese pharmaceutical company Astellas in 2017. The sale value of €500m upfront, with a further €300m on completion of certain milestones, generates a substantial 10x return for Capricorn’s investors.
Jean Combalbert
CEO - Ogeda
Our financial backers provided support required to achieve proof-of-concept in clinical phase IIa for the first non-hormonal treatment of hot flashes.
40
employees in 2017
10x
return generated for investors
What did the business need?
Strategic direction
Partnerships with pharma companies
Means to develop internal drug pipeline
How did private equity backing create lasting value?
Provided strategic advice to create commercially viable and attractive business
Refocused business from chemistry service provider to drug development company
Funded the clinical development of fezolinetant from concept to phase II
Assembled experienced management team and board of directors to drive Ogeda’s development
What outcomes did private equity investment achieve?
Created an attractive, valuable drug development company
Supported the development of a new, potentially revolutionary treatment for women’s health issues without the use of hormones
Created a business employing 40 people
Placed Ogeda on long-term, sustainable growth path through sale to Astellas
Generated substantial returns to investors
Investors
