RBV Capital announces an exit from another project, returning the full investment amount to its limited partners
In 2017, RBV Capital acquired an equity stake in an innovative UK-based company developing an asset for treating symptoms of multiple sclerosis. Latein 2017, the company received poor results of the clinical trial of its sole asset: the efficacy of the treatment wasn’t statistically different from placebo. Further financing from all investors, including leading venture funds from Europe and the UK, was discontinued. RBV Capital then succeeded in a series of complicated negotiations with the company and other investors to return its invested money through a multi-stage process. By joint agreement with all other stakeholders, we are not disclosing the name of the company and its investors.
Alexey Konov: “We are truly sorry that the project did not meet the expectations of its investors, and maybe even more importantly, those of patients looking forward to a cure. Nevertheless, we are satisfied with the outcome of this complicated effort to return the money to our limited partners, which was made possible by RBV Capital’s partners and team. I’m especially grateful to our partner Robert Karl for his persistence and professionalism.”
Robert Karl: “We are delighted that this long saga is now finally at an end and everything worked out well for the fund and our limited partners. My thanks go to all parties who were involved in this complex deal, and in particular to the company’s investors and management.”