Novalis Biotech closes biotech fund at €25m

According to the Belgium-headquartered venture capital specialist, the  investor base includes institutional investors, such as Participatie Maatschappij Vlaanderen (PMV), family offices, as well as HNWIs.
 
As the first fund, the Biotech Acceleration Fund is designed to invest in start-up and scale-up companies with breakthroung enabling technologies such as genomics, bioinformatics, drug research or manufacturing tools, diagnostics and personalised medicine.The company said that investments will be split between early-stage incubation projects and later stage acceleration projects.

Investments have been already made in Grapheal and RheaVita. Novalis announced it plans to r extend its investment focus from Benelux across Western Europe and the U.S.
 
Novalis invests early and focuses on capital-light ideas, where small investments can create significant value using software, IP, tools, and other enabling technologies that can transform healthcare.  Leveraging extensive networks, Novalis has a proven track record in translating innovation into successful companies.
 Novalis Fund 1 was founded in September 2018 and totalled €4 million which was deployed into eight companies, mostly in the Benelux region. These included BioLizard, Cergentis, Enzyre, Epify, Fertiga, myNEOand OHMX.bio. A first exit was realized with US portfolio company doc.ai, acquired by Sharecare as part of an IPO.