BioCentury
ARTICLE | Financial News

First closing of new Nordic Biotech fund

October 28, 2005 3:10 AM UTC

Nordic Biotech announced an initial closing of its second biotech fund at EUR 41.5 million ($49.6 million). The firm expects a second closing to increase the size of the fund to EUR 75-EUR 90 million ($89.6-$107.5 million) within the next 12 months. Investors include the European Investment Fund; the Danish Investment Fund; LD Pensions; W Capital Management; and H. Lundbeck (CSE:LUN). Nordic Biotech Venture Fund II will invest primarily in European biotech companies developing drugs. ...