Montreal, March 18, 2008 – Desjardins Venture Capital, a subsidiary of Desjardins Group, announced today it has appointed BioScience Managers Limited (BML), through BML’s Canadian office, to manage a portion of its life science portfolio.  BML is an international private equity firm specializing in the life science sector.  The partnership involves 8 companies in the Desjardins Venture Capital portfolio which are primarily focused on the development of pharmaceutical products.  In addition, Desjardins has also earmarked a significant amount of capital for BML to invest in the portfolio companies to support their continued development and success. 

The life sciences industry has evolved dramatically over the last few years. Financing is a primary concern, but access to an international network and strategic partners becomes critical in an environment where high potential companies must be leveraged to their fullest. In this context, and to help its portfolio companies develop internationally and with the capital they need, Desjardins Venture Capital wished to adopt a proactive strategy.  This resulted in the international partnership with BML.     

Founded in 2001, BML has built a solid reputation and a global network in the life science industry. With a team of multidisciplinary professionals, BML offers its broad expertise in the pharmaceutical and biotechnology industry to its partners and portfolio companies. With this transaction, BML’s team plans to proactively support the portfolio including working with management teams and boards to both match and leverage the industry and capital market experience base of the BML team and network along with the strategic focus and activities of the companies.

“We believe these companies represent some of the best late stage company assets in the Canadian market” said Jeremy Curnock Cook, Chairman of BML.  “We have followed these companies for several years and many are close to value driving milestones.  Our team looks forward to working with the portfolio companies so they can achieve their ambitions and success on a global stage.”

 “We’re happy that our portfolio companies have access to this network of international expertise. With the appointment of BML, we are focussing on these 8 companies in the short term, but along with the additional capital we have earmarked, affirm our commitment to the life science sector in the long term through a global strategy,” stated Louis L. Roquet, President and Chief Operating Officer of Desjardins Venture Capital. “What’s more, our decision has been very favourably received by the portfolio company management who are part of the agreement who saw, as we did, the opportunity for expanding their potential” he concluded. 

About Desjardins Venture Capital

Desjardins Venture Capital manages the assets of seven Desjardins Funds, Desjardins - Innovatech S.E.C., together with those of Desjardins Capital régional et coopératif created in 2001.  In addition to entering into financial partnerships and facilitating mergers, acquisitions and initial public offerings, Desjardins Venture Capital provides network access and management expertise to businesses and cooperatives during their start-up, growth and expansion stages. Nearly 300 companies are already associated with Desjardins Venture Capital.  (www.desjardinsventurecapital.com)

About BioScience Managers Limited

BioScience Managers Limited (BML) is an international private equity firm based in the United Kingdom and focused on the life science sector.  The firm brings together diverse backgrounds in science, medicine, business, law and finance along with senior industry and capital market experience.  Founded in 2001, BML is a leading international partner for direct and secondary investments and also corporate advisor.  (www.biosciencemanagers.com)

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For information :

Danièle Routhier                                                  

Manager, Public Affairs                                         

Desjardins Venture Capital                                         

daniele.routhier@dcrdesjardins.com

514-281-2211