Hot Investor Mandate: Western Europe-Based Firm with Evergreen Fund Invests in Biotech & Medtech Opportunities, with Strong Interests in Platform Technologies

4 Apr

A firm with offices in Western Europe makes biotech and medtech investments from an evergreen fund. The firm typically makes initial investments of EUR 3-10m at the Series A or B stage, and may commit EUR 25m over the life of an investment. The firm invests across Europe, and aims to make at least 4 life science investments per year (2-3 biotech and 1-2 medtech investments).

The firm invests across the biotech and medtech sectors. Within the biotech sector, the firm prefers to invest in platform technologies rather than in single asset companies, and will invest as early as the preclinical stage. The firm will consider any therapeutic area, and has an interest in orphan drugs; due to having a large existing portfolio in immuno-oncology, the firm is not emphasizing this field at present. The firm prefers opportunities that do not require very large clinical trials. For medical devices, the firm prefers to invest in companies with products with a global potential, that are close to acquiring a CE Mark and that are preparing commercialization. The firm is also interested in enabling technologies such as next-gen PCR and lab equipment.

The firm does not invest in company-creation opportunities: the firm prefers to work with companies that already have high-quality management teams that have proven themselves through past success in the life science industry, and who have a strong network within the industry. The firm also considers the company’s capital efficiency, future capital needs, and the strength of the company’s prior investment syndicate. The firm prefers to lead or co-lead investments, and is a highly activist investor at a portfolio company’s board level.

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