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BioGeneration Ventures BGV IV fund closes at €140 million

BioGeneration Ventures (BGV), a leading early-stage VC in European biopharma, announces the closing of BGV IV at €140 million ($170 million).  BGV IV was oversubscribed, with strong investor demand in the fund. 

At the final close, LPs included the global pharma company, Eli Lilly and Company, and Novo Holdings (led by its venture arm, Novo Ventures), a world-leading life science investor. They joined other corporate and institutional investors including Bristol Myers Squibb, Schroder Adveq, Industriens Pension, KfW Capital and the European Investment Fund (with the support of the European Commission’s Investment Plan for Europe and of the Netherlands National Promotional Institution Invest-NL). 

BGV is now one of the largest biotech investors in Europe dedicated to early-stage ventures and company creation, with over €250 million ($300 million) in assets under management. 

The investment focus of the fourth fund is to seek innovations that have a truly differentiated scientific foundation, supported by convincing experimental data. These innovations must be compelling and stand out in the global scientific arena, and have the potential to have a substantial healthcare impact. 

Edward van Wezel, BGV’s Managing Partner said: “Progressing early-stage projects from discovery to clinical proof-of-concept requires a breadth of experience that founding teams often do not have from the outset. This is where BGV’s team collective experience is a key differentiator, with its extensive network and experience spanninginvestment, life sciences, business development, and commercial operations. With this fund closing at €140 million, we are well positioned to support our portfolio companies with both increased financial capacity and our strong, expanding international network.”

 The BGV IV fund will continue the successful investment strategy of previous funds and has already made four investments. BGV’s aim is to build new companies, around either single assets or technology platforms, with the goal of creating transformational new medicines and also creating significant returns for its LPs. BGV’s strategy is supported by its longstanding collaboration with Forbion, providing a platform across early- to late-stage companies.  

 Portfolio successes 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 BGV portfolio include NorthSea Therapeutics, Azafaros, Varmx, and Confo Therapeutics.

Source: BGV (Press release)