€66m Life Sciences Fund focused on Germany and Benelux

The third fund of the Dutch company now comprises €66m, €16 more than the BVG III’s initial target size. Biogeneration did not provide figures about the exact financial contributions of its new investors but said that investments will focus on medtech, diagnostic and drug development companies in Germany and Benelux.

The new fund will build on the first two BGV funds which yielded some success for investors including a €1,55bn divestment of Dezima Pharma into Amgen and the €7bn exit of Acerta Pharma, the largest private exit in Europe in the biotech sector to date.

Four investments have already been made from BVG III into German immuno-oncology company Catalym, and Dutch companies Escalier Biosciences, Scenic Biotech and Varmx, working on autoimmune diseases, target discovery, and haematology, respectively.

“Our third fund makes BGV amongst the largest life sciences funds dedicated to seed investments in Europe,” said Edward van Wezel, Managing Partner. “Over the last decade we have made over twenty investments in the European life sciences ecosystem. We’ve observed an ever-increasing interest from pharma in acquiring innovations earlier. With this third closing we are significantly exceeding our target fund size and are delighted with the commitment of EIF and other new and existing investors in BGV III. We expect to reach the maximum fund size of EUR 75m before the end of 2017.”

BGV operates as a joint venture with Forbion Capital Partners, providing access to the later stage perspective on early innovation and a global network of experts and pharma companies. The BGV team has broad experience in investment, life sciences, business development, and commercial operations. The team includes experienced biotech entrepreneurs as venture partners and advisors.