Bio Boost For Benelux As BioGeneration Ventures Beats Fund Target
Dutch life sciences venture capital firm BioGeneration Ventures has exceeded the €50m target in a third closing of its BGV III fund, raising €66m. It intends to focus its investments on firms in the Netherlands, Belgium, Luxembourg and Germany, and expects to secure further funds, reaching the maximum fund size of €75m by the end of 2017.
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A new VC fund raised by the Netherlands firm, BioGeneration Ventures, has attracted pharma corporate and private investors and is now one of the largest-ever funds focused on making seed investments in European biotech companies.
In a move which AstraZeneca PLC says "completes its transformation in oncology," it is acquiring a 55% stake in privately held Dutch biotech Acerta Pharma BV for $4bn, made up of $2.5bn now and $1.5bn later. The deal also includes an option to acquire the remainder of the company for a further $3bn.
Amgen is to acquire Dezima Pharma B.V., which recently published highly positive Phase IIb data with its CETP inhibitor TA-8995 suggesting it might have potential as a more cost-effective option for lowering cholesterol than the PCSK9 inhibitor approach. Amgen just had its cholesterol-lowering injectable PCSK9 inhibitor antibody Repatha (evolocumab) approved.