Forbion Capital Fund III closes at $208 mln


Forbion Capital Partners said April 12 that its third main fund, Forbion Capital Fund III, closed at 183 million euros ($208 million). Investors of FCF III include the European Investment Fund (EIF), the Dutch Venture Initiative (DVI), Germany’s KfW development bank, various other regional investment agencies, pension funds, insurance companies, leading European family offices and two strategic investors: Charles River Laboratories and Knight Therapeutics. The fund will invest in private companies developing novel drugs, medical devices and diagnostics for high, or even unmet, medical needs.

PRESS RELEASE

Naarden, The Netherlands, and Munich, Germany, 12 April 2016 / B3C newswire / — Forbion Capital Partners(“Forbion”), a dedicated life sciences venture capital firm, today announced the final closing of its third main fund Forbion Capital Fund III (FCF III), raising a total of EUR 183 million (approx. USD 208 million).

FCF III has an investment strategy similar to its predecessor fund, FCF II, aiming to invest the majority of the fund (around 70%) in Europe and the remainder in the US and Canada. The investment focus is on private companies developing novel drugs, medical devices and diagnostics for high, or even unmet, medical needs.

FCF III is serving a market that is both driven by the pharmaceutical industry’s urgent need for new products to supplement their ailing pipelines, as well as by strong patient demand for safer and more efficacious treatments and precision diagnostics.

The fund has already invested in seven promising portfolio companies, including Engene, Rigontec, Replimune, Autonomic Technologies Europe, Sanifit, Staten Biotech and Akarna. These companies cover a range of globally important disease areas including cancer, kidney disease, liver disease, dyslipidemia, inflammatory bowel disease, and pain management.

Commenting on the successful close, Sander Slootweg, Managing Partner at Forbion said: “Raising such a substantial amount is a tribute to Forbion’s reputation as a quality player in life sciences venture capital investment. In Europe especially, it is still a buyer’s market; as a result, we see many highly attractive assets from an increasingly rich deal flow.”

He added: “Our new portfolio is already showing great promise. Canadian molecular therapeutics company EnGene, inventors of the so-called ‘Gene Pill’, has closed two major pharma collaborations since we led the Series B financing round in 2015. In the UK, oncolytic immunotherapy company, Replimune secured a substantial and attractively priced USD 30m Series A round after we provided the seed capital. As several more companies are currently enjoying strategic interest, this bodes well for the success of FCF III.”

With this fundraising, Forbion secured both returning investors and further expanded its global investor base of high quality limited partners, to include the European Investment Fund (EIF) (also through the EIF’s ERP-EIF and LfA-EIF facilities), the Dutch Venture Initiative (DVI), Germany’s KfW development bank, various other regional investment agencies, pension funds, insurance companies, leading European family offices and two strategic investors: Charles River Laboratories and Knight Therapeutics.

Alongside its three main funds, Forbion also manages several Co-Invest Funds (venture growth funds) and co-manages several earlier stage funds with BioGeneration Ventures. Forbion typically leads the investment syndicates it forms and has built a strong track record in recent years. With the close of FCF III, Forbion now manages well over EUR 700 million.

Last year, Forbion was involved in two of the most successful exits of private, European life sciences companies, with the sale of Dezima Pharma to Amgen (total exit value of USD 1.55 billion) and the sale of Acerta Pharma to AstraZeneca (an investment of its affiliate BioGeneration Ventures with a total exit value of USD 7 billion).

In order to swiftly and effectively deploy the newly raised fund, Forbion’s investment team has been expanded with Matthias Falcenberg joining as an Analyst at Forbion’s operations in Munich, from the Max-Planck-Institute of Biochemistry.
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About 
Forbion Capital Partners
Forbion Capital Partners is a dedicated life sciences venture capital firm with offices in The Netherlands and Germany. Forbion invests in life sciences companies in the pharmaceutical, as well as the medical device space. Forbion’s investment team has built an impressive performance track record since the late nineties with successful investments in multiple companies. With the new FCFIII fund, Forbion manages well over EUR 700M across six funds, including the new fund FCF III. Its investors include the EIF through its European Recovery Programme (ERP), LfA and Dutch Venture Initiative (DVI) facilities and the KFW through the ERP – Venture Capital Fondsfinanzierung facility. Forbion also operates a joint venture with BioGeneration Ventures, who manages two separate seed and early stage funds focused on Benelux.

 

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