11/17/2003, 10:30 AM (Source: GlobeNewswire)
Investment will enable start of clinical trials on potentially revolutionary approaches to selectively treating immune diseases

Cambridge, UK, November 17, 2003 - Lorantis, an immunology drug
discovery and development company, announced today the closing of a
£25 ($42) million series C private financing round led by Funds
advised by Apax Partners. Apax Partners Funds were joined in this
financing round by existing investors Abingworth Management, JP
Morgan Partners, Quester Capital Management, Schroder Ventures, The
Wellcome Trust and funds managed by Fleming Family and Partners. The
investment will enable the clinical development programmes to begin
on the Company's innovative products for the treatment of immune
diseases, such as allergy, arthritis and transplantation, as well as
supporting new lines of research.

"The closing of this financing round is a significant milestone for
Lorantis. It gives Lorantis the substantial resources we need to move
our products into clinical development and establish the key clinical
milestones which will underpin the future value of the Company. We
are delighted that such a high quality group of life sciences
investors recognise the enormous opportunity that Lorantis offers,"
said Dr. Mark Bodmer, CEO of Lorantis.

Cathrin Petty, Director of Apax Partners, commented "Lorantis'
products have the potential to revolutionise the treatment of allergy
and autoimmune diseases by selective action on the immune system. We
look forward to working with the Company as it takes these products
into the clinic."

Lorantis has discovered a fundamental immune mechanism, by which the
immune response to any disease-causing antigen may be suppressed
while the vital normal function of the immune system as a whole is
preserved. The Company is developing a pipeline of protein and DNA
therapeutics for the treatment of immune disorders using its
proprietary antigen-specific therapy (ASPECT(TM)) platforms. This
new class of targeted medicines has the potential to transform the
treatment of a broad range of major immunological disorders,
including allergy, autoimmune disease and transplant rejection

Notes to Editors

About Lorantis

Lorantis' products target billion dollar plus markets with unmet
medical need. The products are designed to replace many of the
current non-specific immunosuppressive and anti-inflammatory drugs by
specifically modulating the immune response to disease-causing
antigens. Patients will benefit from therapy which is targeted
directly at the immune disorder of their disease. This should provide
greater, focussed efficacy and avoid the side effects of general
suppression of immune and inflammatory responses. Lorantis is located
in Cambridge UK and employs 50 staff at its new facilities on the
Cambridge Science Park.

About Apax Partners

Apax Partners is one of the world's leading private equity investment
groups, operating across Europe, Israel, the United States and Japan.
With over 30 years of direct investing experience, Apax Partners'
Funds provides long-term equity financing to entrepreneurs to build
and strengthen world-class companies. It pursues a balanced equity
portfolio strategy, investing in companies at all stages of
development from early stage to buy-out. Apax Partners' Funds invests
in companies across its 6 chosen global sectors of: information
technology; telecommunications; healthcare; media; financial
services; retail and consumer. Some of Apax Partners Funds'
healthcare investments include: Affymax, Atugen, Compugen, Ionix
Pharmaceuticals, Intercell, Microscience, Procognia, NicOx and

Apax Partners manages and advises over $12 billion on behalf of
leading institutional investors around the world. For more
information visit: www.apax.com

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For further information, please contact:

Dr. Mark Bodmer, CEO
Tel: +44 (0)1223 702502
Email: mark.bodmer@lorantis.com

Apax Partners
Siobhan Loftus, Director of Marketing
Tel: +44 (0)20 7872 6495
Email: Siobhan.Loftus@apax.com

Clare Sillars, Press Officer
Tel: +44 (0)20 7872 6476
Email: Clare.Sillars@apax.com

For Press inquiries, please contact:

Julia Phillips
Tel: +44 (0)20 7726 4452
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