Vesal­ius gets to work on €120M Fund III — ex­pect more on wom­en's health, on­col­o­gy

Vesal­ius Bio­cap­i­tal, a Eu­ro­pean VC play­er that’s bet along­side the cor­po­rate ven­ture arms of No­var­tis, No­vo and Mer­ck KGaA, has closed its third fund with €120 mil­lion (about $136 mil­lion) to fu­el a dozen life sci­ences com­pa­nies through lat­er stages of de­vel­op­ment.

Tak­ing a hint from the $860 mil­lion sale of Oge­da to Astel­las in 2017 — which man­ag­ing part­ner Marc Lohrmann de­scribed as a “great ex­it” af­ter par­tic­i­pat­ing in a €16 mil­lion Se­ries B — Vesal­ius is pay­ing par­tic­u­lar at­ten­tion to women’s health deals. That in­cludes a re­cent in­vest­ment in Foren­do, a Finnish biotech ush­er­ing an en­dometrio­sis drug through Phase Ib. The Lux­em­bourg-based firm al­so has a ded­i­cat­ed in­ter­nal team re­view­ing on­col­o­gy projects, Lohrmann told me, as they take up around half of the ther­a­peu­tic deal flow.

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