BioGeneration Ventures (BGV), a Naarden, The Netherlands-based venture capital firm with a focus on early stage European biotech, medtech, and diagnostics companies, closed its third fund, at €82m.
New investors in BGV III include biopharmaceutical company Bristol-Myers Squibb, healthcare company Johnson & Johnson Innovation – JJDC, Inc. (JJDC) as well as private equity investor Schroder Adveq, and the MAN Pension Trust.
The third fund will focus on therapeutics, medical devices and diagnostics, within Europe, in particular in the Benelux and Germany.
Five investments have already been made from the fund into German immuno-oncology company Catalym, and Dutch companies Escalier Biosciences, Scenic Biotech, Varmx, and Mellon Medical working on autoimmune diseases, target discovery, haematology, and vascular suturing respectively.
Led by Edward van Wezel, Managing Partner, BGV operates as a joint venture with Forbion Capital Partners, providing access to the later stage perspective on early innovation and a global network of experts and pharma companies. The firm has already had meaningful achievements with the first two BGV funds. These include Dezima Pharma sold to Amgen for USD 1.5 billion and Acerta Pharma which at USD 7 billion was the largest private exit in Europe in the biotech sector to date.