EQT Life Sciences’ EQT Health Economics 3 Fund (EQT HE3), a multi-stage life sciences and medtech-dedicated fund has received €25 million from the British Business Bank. EQT Life Sciences backs companies focused on the development of therapeutics, medical devices, diagnostics and healthtech.
With a 30-year track record, the firm has raised over €3.7 billion across 13 private funds and supported more than 150 companies from early clinical development through to commercialisation.
This commitment is the latest in the British Business Bank’s ongoing work to back the UK’s high-potential life sciences companies, which is one of the eight growth sectors of the UK Industrial Strategy.
The Bank has an existing relationship with EQT Life Sciences, having co-invested in both Phagenesis’ (2023) $42 million Series D and Cyted Health’s (2025) $44 million Series B funding round. EQT HE3 is targeting commercial stage, de-risked medtech and digital health technologies driving innovation and transforming healthcare delivery.
Drew Burdon, Partner at EQT Life Sciences, said:
“Over recent years, we have built an excellent relationship with The Bank through co-investments in leading UK health tech companies. The Bank's investment will further contribute to our commitment to tap into the attractive UK health tech ecosystem and grow strong companies together. “
Christine Hockley, Managing Director and Head of Commercial Equity Funds at British Business Bank, said: “
The UK is home to a world-class life sciences sector, but scaling companies in the sector requires specialist investors.
By investing in high-quality international funds, we encourage greater investment to flow back into the UK and ensure UK companies benefit from the capital and expertise of leading investors.”
Lead image: Magnific.
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