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Biogeneration Venture, the European biotech is all set invest on therapeutics, medical devices and diagnostics, all within Europe, in particular in Benelux (Belgium, the Netherlands, and Luxembourg) and Germany through its third fund which has gone over its €50 million target and hit €66 million ($74 million) as it attracts new investors.

The third funding has already made a series of investments in companies- German I-O biotech Catalym, and Dutch companies Escalier Biosciences, Scenic Biotech and Varmx, working on autoimmune diseases, target discovery and hematology, respectively, and expects to make more soon adding to a total of 15.

Potential investors were attracted into the round by BGV’s first two funds, in which it first tasted success with Netherlands-based CV biotech Dezima Pharma (sold to Amgen in 2015 for $300 million, and potentially $1.25 billion in biobucks) as a founding investor, and in cancer company Acerta Pharma, which saw a major $4 billion dollar majority share buy from AstraZeneca.

“Our third fund makes BGV amongst the largest life sciences funds dedicated to seed investments in Europe. Over the last decade, we have made over 20 investments in the European life sciences ecosystem. We’ve observed an ever-increasing interest from pharma in acquiring innovations earlier. With this third closing, we are significantly exceeding our target fund size and are delighted with the commitment of EIF and other new and existing investors in BGV III. We expect to reach the maximum fund size of €75 million before the end of 2017.”

Says Edward van Wezel, managing partner at the fund.

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