12:01 AM
Jul 11, 2018
 |  BC Extra  |  Financial News

Forbion raises €270M, surpassing target for fourth fund

Forbion Capital Partners raised €270 million ($317.8 million) toward Forbion IV, surpassing its target of €250 million ($294.2 million).

The firm said the fund will have a "sharper focus" on biotech investments than Forbion Capital Fund III (FCF III). Forbion IV will invest in about 15 companies -- five of which it plans to co-found -- for initial target stakes of 20-50%.

Managing Partner Sander Slootweg told BioCentury he expects Forbion will use the new fund to continue investing in the gene therapy, cardiovascular and metabolic spaces, but also may venture into the microbiome field.

The majority of Forbion IV's investments will target the EU and U.K., with about 20% set aside for North America.

Slootweg estimates the fund will probably hit the mid-€300 million mark upon its anticipated close in the fall.

FCF III closed at €183 million ($208.2 million) in 2016. Investments from the fund that could exceed 5x returns include exits from NASH company Akarna Therapeutics Ltd., immuno-oncology company Rigontec GmbH and Parkinson's disease company Prexton Therapeutics S.A., Slootweg said (see "LPs Choose Europe").

Allergan plc (NYSE:AGN) acquired Akarna in 2016, while Merck & Co. Inc. (NYSE:MRK) acquired Rigontec last year. H. Lundbeck A/S (CSE:LUN) acquired Prexton in March.

Forbion IV is the firm's fourth life sciences fund, leaving it with more than €1 billion ($1.2 billion) under management across 10 funds.

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