London, UK-based Advent Life Sciences has closed its latest venture capital fund at £145.5m ($235m).
Raised from independent financial investors including funds-of-funds, pension funds, and family offices, Advent Life Sciences Fund II focuses on seeding and building life sciences companies in the UK, Europe and the US.
The vehicle will back entrepreneurs and early-stage and mid-stage companies with the potential to deliver innovative products for unmet medical needs.
Led by Raj Parekh, General Partner, Advent Life Sciences invests in a range of sectors within life sciences, principally in new drug discovery, enabling technologies, and med tech. Exits in the last three years include Algeta, Avila, CN Creative, EUSA, Micromet while current investments include Acutus, Biocartis, Cellnovo, f2G, NeRRe, Versartis.
The team consists of 11 professionals with extensive scientific, medical and operational experience.