Intercell's [euro]110M Funding Provides Exit Opportunity.

BioWorld International Correspondent

Intercell AG rounded off the largest fund raising in Europe this year, with the placing of an overallotment of 1.3 million shares, bringing the total to C110.6 million (US$140.9 million).

Of the total, 50 percent was of secondary shares sold off in a structured fashion to give long-standing venture capital investors an exit.

"A large proportion of VCs went out through this offering," Werner Lanthaler, chief financial officer, told BioWorld International. Exiting were MPM Capital, TVM Capital, Star Ventures and Alpinvest. Following the placing, Intercell's major shareholders are Apax Partners with 11.6 percent, Temasek …