As the VC dollars continue to dominate biopharma headlines this week, Swiss VC group BioMedPartners AG has announced its own windfall: it’s raised an additional $107 million in new money for it’s third venture fund.
The firm, which invests in private early- to mid-stage companies, plans to invest in 12 to 15 companies with the new fund. In fact, after closing on the new cash last month, BioMedPartners already made three investments: Cardior Pharmaceuticals, a German biotech that’s developing heart disease therapies; Amal Therapeutics, a Geneva company developing cancer vaccines; and Allecra Therapeutics SAS, a late-stage antibiotics company near BioMedPartners’ headquarters in Basel, Switzerland.
The VC group said it looks for portfolio companies in Switzerland, Germany, and neighboring countries of the European Union.
“We are proud of having established BioMedPartners as a leading venture group and early stage life science investor in Europe over the last fifteen years since its inception,” said Thomas Möller, general partner at BioMedPartners, in a statement. “The successful closing of our third equity venture fund is also a major milestone for the future growth of the life science cluster in Switzerland.”
With the new fund, BioMedPartners plans to invest in biopharma, medical device, and diagnostic companies.
BioMedPartners’ new fund follows a rather boisterous week of biopharma fundraising announcements. As of Friday morning, we’ve written about around $700 million in new deals, including two $100 million mega-rounds (Generation Bio and Rubius) and one $250 million round (Viela).
Image: BioMedPartners General Partner Thomas Möller. BioMedPartners
The best place to read Endpoints News? In your inbox.
Comprehensive daily news report for those who discover, develop, and market drugs. Join 32,400+ biopharma pros who read Endpoints News by email every day.Free Subscription