Spark Ventures

 SPARK managed funds invest in $12 million Series B funding of Vivacta

• Funding will support the commercialisation of Vivacta’s piezofilm technology
• First Point of Care clinical evaluation scheduled for 2008

Sittingbourne, Kent UK, 27 November 2007 – SPARK Ventures (‘SPARK’), the leading quoted early-stage venture capital company, announces that its managed funds have provided follow-on funding to Vivacta, a leading in vitro diagnostic company, as part of the company’s $12 million Series B financing round. SPARK managed funds have invested $1million alongside a number of new and existing investors including AGF Private Equity, HBM BioVentures and Viking. SPARK managed funds have been investors in Vivacta since March 2006 when Quester, which was acquired by SPARK earlier this year, invested $6million in the company’s Series ‘A’ funding.

The investment will be used to drive forward the commercialisation and launch of Vivacta’s first highly sensitive Point of Care (PoC) immunoassay system, based on its patented piezofilm sensor technology.

Commenting on the deal, Neil Butler, CEO of Vivacta, said: “The successful completion of our series B funding is a significant achievement for the company and we are particularly pleased to have the support of two leading European venture capital firms, AGF Private Equity and HBM BioVentures. In addition, the continued backing from our existing investors, Spark managed funds and Viking, is a further strong endorsement of Vivacta’s technology platform and of our approach to commercialising that technology.”

Dr Jonathan Gee, investment director at SPARK Ventures, added: “Since we invested in Vivacta in 2006 the company has shown significant growth and, led by an experienced and committed management team, has been highly successful in developing and commercializing its technology platform. This latest funding will allow the business to complete development of its point of care disposables and instrument for its first set of assays, and we look forward to our continued involvement with this exciting company.”

AGF Private Equity and HBM will further strengthen the Vivacta Board through the appointment of two well-known figures in the diagnostics industry, Gerry Moeller and Gerard Vaillant. Gerry was previously Chief Executive of the Boehringer Mannheim group and following its acquisition joined the management board of Roche. Gerard Vaillant chaired the diagnostics division of J&J and acted as CEO and President of Ortho Clinical and Lifescan. Jonathan Gee will continue on the board. Neil Butler added: “With our existing Chairman, Rolf Classon, and Director, Werner Schaefer, these new appointments give us a Board with more combined industry know-how than probably any other privately held diagnostics company.”

Vivacta is currently finalising the reader and cartridge for its rapid, highly sensitive, piezo film-based immunoassay system. It intends to begin clinical evaluation of its first PoC application, TSH, in 2008. In line with its commercialisation plans, Vivacta is in the process of doubling the size of its facility in the Kent Science Park which will allow the company to add a pilot manufacturing line for its disposable cartridge.

Vivacta is currently in discussion with a number of potential licensees who are interested in the opportunity to commercially exploit the company’s unique piezofilm technology.

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For further information, contact:
Neil Butler, Vivacta Tel : 01795 419400 E: nb@vivacta.com
Jonathan Gee, SPARK Ventures Tel : 020 7851 7777 E: jonathan@sparkventures.com

Notes to editors :

Vivacta
Vivacta Limited is a medical diagnostic company that is developing a patented ultra-sensitive Piezofilm-based technique for rapid point-of-care (PoC) testing. This novel technology can quickly deliver a laboratory quality analysis of whole blood samples, without the need for cell separation. Based in the Kent Science Park and employing 20 scientists, Vivacta has strong venture capital funding and an ambitious growth strategy designed to rapidly commercialise its innovative product. Vivacta will initially offer a TSH test, but aims to partner larger diagnostic companies to provide immunoassay and molecular diagnostic tests to all parts of the fast-growing point-of-care (PoC) market. Information on Vivacta and its technology can be found at.
www.vivacta.com

SPARK Ventures
SPARK Ventures is the leading quoted early-stage venture capital company in Europe. It manages £240 million on behalf of major institutional investors, leading UK universities, and three quoted venture capital trusts.
SPARK invests in entrepreneurs to create dynamic businesses in the technology, media, telecoms and healthcare & life sciences sectors. As well as capital, it brings a wealth of experience of developing high growth companies from early stage through to IPO or trade sale, adding value to its investments through active support and strategic direction.
SPARK’s focus is on building great companies from small beginnings: its experience blends ambition with the strategic, financial and commercial skills that enable it to maximise returns, both for investors and for portfolio companies.
The company, which was formerly known as NewMedia SPARK, announced its re-launch as SPARK Ventures in October.