Truffle roots for new biotechs after first close of a planned $240M fund
After striking sales deals on a couple of its medtech plays last year, France’s Truffle Capital has raised the first $102 million of a planned $240 million fund aimed at launching new biotech startups out of academic research circles in the US and Europe.
Truffle BioMedTech will aim at creating new upstarts in the drug and device world, to be based in France. Vexim, Carmat, Symetis, Pharnext, Carbios and Abivax were all founded or co-founded by Truffle partners. And Symetis and Vexim were both bought out last year for more than $600 million.
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