BioGeneration Ventures, a Naarden, The Netherlands-based early-stage VC in European biopharma, closed its fourth fund, BGV IV, at €105m ($119m).
BGV IV has received saupport from notable institutions as investors such as, Bristol Myers Squibb, Schroder Adveq and the European Investment Fund. New investors include Industriens Pension and KfW Capital.
The investment strategy for the fund will follow the same path as the firm’s other funds, which have resulted in innovative new medicines reaching patients and yielded significant returns for investors.
Led by Edward van Wezel, Managing Partner, BGV is one of the largest VC funds in Europe focused on early investments in new bio-technology companies, with over € 220m assets under management. Its team has broad experience in investment, life sciences, business development, and commercial operations.
The firm’s approach is to partner with scientists from major European institutions and entrepreneurs. The aim is to build new companies, around either single assets or technology platforms with the goal of creating transformational new medicines.
This strategy is supported by the collaboration between BGV and Forbion, providing a platform across early- to late-stage companies.
Portfolio successes of earlier BGV funds include Acerta Pharma, which was acquired by AstraZeneca for up to $7bn and whose lead product Calquence® is now approved and marketed in the US, and Staten Biotechnology, which signed a €430 million exclusive option deal with Novo Nordisk. Other companies in the current portfolio include NorthSea Therapeutics, Azafaros, Varmx, and Confo Therapeutics.