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European Biotechnology Network!

The European Biotechnology Network is dedicated to facilitating co-operation between professionals in biotechnology and the life sciences all over Europe.

The non-profit organisation brings research groups, universities, SMEs, large companies and indeed all actors in biotechnology together to build and deliver partnerships.

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  • © Tristan Martin via Flickr

    Advent brings in €184m VC fund

    29.10.2014 British VC fundraiser Advent Life Sciences has raised €184m with its second fund. The money will help seed and build life sciences companies in the UK, Europe and the US, the company said.

    Advent announced the closing of the Advent Life Sciences Fund II (ALSF II) today. The capital of £145.5m (€184m) was raised entirely from independent financial investors, including funds-of-funds, pension funds, and family offices. It quickly exceeded its target. The venture firm will back entrepreneurs, early-stage and mid-stage companies with the potential to deliver first, or best-in-class breakthrough products for unmet medical needs.

    "We thank our returning and new limited partners for the strength of their support, which allowed us to raise the commitments for this Fund in a matter of weeks," said Raj Parekh, General Partner. He added "The interest from LPs and demand for the Fund, particularly in current markets, is in large part a recognition of the scientific and medical entrepreneurs, CEOs and Management teams whose commitment, vision and energy is enabling our portfolio companies to bring important medical innovations to patients. It is a privilege to work with them." Advent started its first life sciences fund in 2010 with €95m, which was reopened in 2012 to accept a new investment, bringing the total amount raised to €128m.

    © european-biotechnology-news.com/um

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