New fund up and running
Zurich – BB Biotech Ventures has closed its third fund with committed capital of EUR67.5m. The cash was raised from a number of undisclosed investors, including pension funds, institutional asset managers and family offices. The fund, which is free from any regional investment constraints, will focus investments in private biotechnology, pharmaceutical and medical device companies. Due to the strong flow of attractive opportunities, it is already engaged in four firms: Lumavita AG and Vaximm Holding AG in Basel, and US-based companies Aerovance and Palyon. Over the next few years, BB Biotech Ventures says it will seek to build up a portfolio of 10 to 12 investments. The fund is part of the Bellevue Group, a Swiss investment bank and asset management firm known for the two quoted companies BB Biotech and BB Medtech.