Domantis
- Realisation
- Location: UK
- Sector: Healthcare
- www.domantis.com
First investment
In February 2004, 3i invested £4.2m as part of a £17.5m early-stage fund raising round to support research and development.
Nature of business
A pre-clinical stage biotechnology company focused on next-generation human antibody products.
| Results to 31 March | 2006 (audited) €m |
|---|---|
| Sales | 1.7 |
| Profits after tax | (7.3) |
| Net assets | 23.6 |
Developments since 3i invested
3i was instrumental in assisting Domantis to successfully develop and implement a strategy to build a commercial presence in the US and in the recruitment of a new chairman and CFO. This, combined with the company's technical development, made Domantis attractive to industry leaders and the company was acquired by GlaxoSmithKline for £230m in January 2007. The proceeds for 3i represented a cash multiple of over 4 times 3i's investment and an IRR of 98%.
Employment in the company grew from 40 when 3i first invested to 70 at present.
| 3i Group plc’s return on investment as at 31 March |
2007 £m |
2006 £m |
|---|---|---|
| Cost | ||
| Equity and loan | n/a | 4 |
| Realised value | ||
| Equity and loan | 24 | n/a |
| Unrealised value | ||
| Equity and loan | 2 | 5 |
| Equity interest | 0% | 14% |
| Income in the year | 0 | 0 |