Novo Holdings, Saminvest, Vækstfonden and the European Investment Fund and other private investors, invested in Sound Bioventures Fund I in the first close of €110m.
Sound Bioventures will be investing in private biotech companies and will focus on companies with assets in clinical or late pre-clinical stages, primarily within rare diseases. Based in Scandinavia and the US, the fund expects to invest one third of the funds in Scandinavian companies, one third in US- and UK-based companies, and one third will be invested in companies from across Europe.
The fund will be managed by a founding team with extensive experience from venture investing and operational drug development. The team includes:
- Casper Breum, who has a background from Novo Nordisk, Lundbeck and Lundbeckfonden Ventures,
- Johan Kördel who brings experience from Pharmacia, Biovitrum and Lundbeckfonden Ventures, and
- Bibhash Mukhopadhyay, with a background in J&J, AstraZeneca and NEA.
Sound Bioventures Fund I AB is a registered alternative investment fund, under the Swedish Alternative Investment Funds Managers Act.