Kazakh National Agency received some $500,000 from venture fund

Photo: Kazakh National Agency received some $500,000 from venture fund / Kazakhstan

Baku, Azerbaijan, Feb. 26

By Elena Kosolapova - Trend:
Kazakh National Agency for Technical Development received $498,865 from the sale of shares of Tetraphase Pharmaceuticals - a portfolio company of venture Flagship ventures fund 2004, the agency reported on Feb. 26.

In general the Fund distributed $7.6 million received from the deal among its investors.

This is the first distribution to investors since the fund creation.

The current portfolio of the venture fund consists of seven companies which are on sale now : BIND Biosciences., Inc., Concert Pharmaceuticals, Inc., Quanterix Corporation, T2 Biosystems, Inc., Black Duck, Inc., LS9, Inc. (Newco LS9, Inc), Mascoma Corporation.

Kazakh National Agency for Technical Development decided to finance the Fund. Flagship ventures fund 2004 in 2005. The fund invests in such areas as biotechnology, nanotechnology, medicine and information technology.

Edited by CN

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