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Kurma Partners announce closing of Biofund III

123rf.com/Joachim Wendeler


by TG

Paris-based Kurma Partners announced the first closing of its Kurma Biofund III, a life science fund set to raise €150m.

Kurma Biofund III, which is backed by cornerstone investors Servier, Bpifrance, and Idinvest, will invest in private biopharmaceutical companies. Kurma Biofund II invested in 12 companies, including Step Pharma, Dynacure, ImCheck and Pharvaris, which were (co)-created by Kurma.

The new fund is aimed at building a portfolio of 12 to 15 companies addressing conditions which are medically underserved.  “Our investment with the Kurma team is part of our open innovation strategy to respond more effectively to the unmet medical needs of patients”, said Olivier Laureau, President of Servier. “We believe that there is very exciting science currently developed within both the leading European academia's and innovation ecosystems that requires equity financing and venture capital know how to bring these new therapies to patients”. 

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