BioGeneration raises EUR 25 million for third fund
BioGeneration Ventures announced a EUR 25 million ($27.8 million) first close for the firm's third life sciences fund. BioGeneration Capital Fund III is targeting a final close of EUR 50 million ($55.6 million). LPs include Dutch and U.K.-based family offices, Topfonds Gelderland, InnovationQuarter and LEH Holding, the holding company for Leiden University.
BioGeneration said the fund will invest in 12-14 European companies developing therapeutics, medical devices and diagnostics, with a focus on Dutch companies. Recent BioGeneration exits include cancer play Acerta Pharma B.V. (Oss, the Netherlands) and cardiovascular company Dezima Pharma B.V. In December 2015 AstraZeneca plc (LSE:AZN; NYSE:AZN) acquired a 55% stake in Acerta in a $4 billion deal (see BioCentury Extra, Dec. 17, 2015). ...