BioGeneration Ventures (BGV), an early-stage VC in European biotech, has closed its fourth fund at €105 million, bringing the Dutch firm’s total assets under management above €220 million. Investors in BGV IV include Bristol Myers Squibb, Schroder Adveq, the European Investment Fund, Industriens Pension and KfW Capital.
The Naarden-based VC aims to build new companies and create “transformational new medicines” by partnering with entrepreneurs as well as scientists from major European institutions. “The early-stage science coming out of European Institutions is second to none and we are working with those at the forefront of their fields,” says Edward van Wezel, BGV’s managing partner.
Portfolio successes of earlier funds include Acerta Pharma, which was acquired by AstraZeneca for up to $7 billion and whose leukemia treatment Calquence is now approved in the US, and Staten Biotechnology, which signed a €430 million exclusive option deal with Novo Nordisk. Other companies in the firm’s current portfolio include NorthSea Therapeutics, Azafaros, Varmx and Confo Therapeutics.