Nordic biotech gets Euro41.5m fund
Copenhagen - Nordic Biotech Advisors ApS (“Nordic Biotech”) have closed their second biotech fund the Nordic biotech Venture Fund II K/S with a committed capital of Euro41.5 million. A second closing is foreseen to take place within 12 months, and is expected to increase the fund size to Euro75-90 million. The fund will primarily invest in European biotech companies with a focus on drug development. “We are tremendously pleased with the support that our current investors show us by their joining our second endeavour,” says Dr. Christian Hansen, partner and co-founder of Nordic Biotech. The investors include the European Investment Fund, Vaekstfonden, LD Pensions, W Capital Management AB and H.Lundbeck A/S.
The first fund initiated by Nordic Biotech has invested in a number of rapidly developing biotech companies with compounds in early-, mid- and late-stage clinical development, and retains significant ownership stakes in most of them. Its prior investments include for instance infectious disease company Lifecycle Pharma A/S (Denmark), allergy vaccine company CuraLogic A/S (Denmark), gastrointestinal company Gastrotech Pharma A/S (Denmark), cancer play Biotica Technology Ltd. (UK) as well as the Swedish company Global Genomics AB.