Riemser Arzneimittel AG, a German pharmaceuticals company, has raised an undisclosed amount of funding from TVM Capital, in exchange for a 10% ownership stake.
PRESS RELEASE
Munich and Boston-based TVM Capital invested in Riemser Arzneimittel AG effective December 27, 2007. Riemser Arzneimittel AG is a midsized pharmaceutical company on the island Riems in Mecklenburg-Vorpommern, Germany.
Riemser Arzneimittel AG, owned and controlled by the Braun Family, has 450 employees at four manufacturing plants with annual revenues (2006) of about 56 million Euro. The company develops and produces a line of successful dermatology, cardiovascular and anti-inflammatory, oncology and dental care pharmaceuticals.
TVM Capital holds 10% of the Riemser AG shares; supported by current management under the leadership of Norbert Braun, TVM Capital will help transition and grow Riemser Arzneimittel AG into an international corporation. Dr. Christoph Schroeder, Partner of TVM Capital and former management executive of BASF Pharma, will join the board of directors. “TVM Capital has always been an active shareholder in enterprises with a strong focus in the areas of life sciences and pharmaceuticals”, explains Dr. Helmut Sch
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