ARTICLE | Financial News
Medicxi launches $300M late-stage fund
June 16, 2017 9:29 PM UTC
European early stage investor Medicxi said it has expanded its focus with a $300 million late-stage fund backed by Verily Life Sciences LLC (South San Francisco, Calif.), Novartis AG (NYSE:NVS; SIX:NOVN) and European Investment Fund (EIF). The new fund will lead investments in private and public companies with drug candidates in Phase IIb and beyond.
Similar to the strategy of the VC’s early stage venture fund Medicxi Venture 1, investments made by the new Medicxi Growth 1 will be driven by interest in a particular asset, whether or not that asset is the biotech’s lead program...