BioGeneration Ventures Leads Europe's Seed Investing With New Fund
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.
You may also be interested in...
Five funds raised more than $1bn to back biotech firms; Arcus leads recent VC rounds with $107m GV-backed Series C; Celgene, Valeant sell notes to retire debt; and Alnylam cashes in on investor goodwill.
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.
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.