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Vesalius Biocapital fund raises €65m

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Luxembourg-based venture capital specialist Vesalius Biocapital has closed the first round of Biocapital III fund that aims to invest into later-stage European life sciences companies.

Biocapital III secured over €65m of commitments and will invest into 10-15 later-stage European life sciences companies across drug development, medtech, diagnostics and digital health. Until the final closing in 2018, Vesalius Biocapital III will accept new investors on a “rolling closing” basis.

In two previous VC funds, Vesalius Biocapital raised more than €150m. Exits include Ogeda (acquired by Astellas in a €800m deal), Activaero (sold to Vectura for €130m), Genkyotex (reverse merger on Euronext) and Fovea (taken over by Sanofi for €370m).

Dr Christian Schneider, Managing Partner at Vesalius Biocapital III, said: “While the primary focus of Biocapital III is investing in Europe, we want to provide a bridge to enable European companies to access US capital markets, and for North American companies to have access to Europe for development, expansion or access to innovation. To this extent, we have set up a Boston-based US presence to provide support to the portfolio and evaluate new opportunities.”