07 February 2018
Edmond De Rothschild Investment Partners closes EUR 345 million BioDiscovery 5 fund
Paris, France - 7 February 2018, BioDiscovery, a leading global investor in biotechnology and medical devices, managed by Edmond De Rothschild Investment Partners, announces today that it has closed the subscription period to its fifth fund, raising EUR 345 million (USD 430 million). BioDiscovery 5 surpassed its initial target of EUR 250 million, making it the largest life science and medical device venture fund to be raised in Europe. BioDiscovery 5 includes investments from current and new investors, with investors representing more than 60% of BioDiscovery 4 choosing to reinvest in BioDiscovery 5. Investors comprise mainly funds of funds, insurance and health insurance companies and pension funds.
With BioDiscovery 5, the Edmond De Rothschild Investment Partners team will continue its focused international investments in a balanced portfolio of innovative drug development and medical device companies across all stages of development. Through BioDiscovery 5, the team will lead investments in companies split between biotech and medical devices across Europe and the United States. The fund can invest up to 10% of the fund per company.
Over a period of 17 years, the BioDiscovery team has raised almost EUR 800 million and through BioDiscovery 1, 2, 3 and 4 funds have invested in 57 life science companies, progressively becoming a leading European investor. The team has a strong exit track record with 16 trade sales including Chase Pharmaceuticals, Tobira, Glycovaxyn, Oncoethix, Covagen, Sapiens, Endosense, Vessix Vascular and 18 IPOs including Poxel, Cellnovo, GenKyoTex, Regado, EOS imaging, SuperSonic Imaging, Probiodrug, OncoMethylome Sciences and Cellectis.
BioDiscovery 5 has already made three investments to date: Erytech Pharma (Euronext: ERYP- Nasdaq: ERYP); Complexa Inc.; and LogicBio Therapeutics, Inc.
The BioDiscovery franchise is led by Partners Gilles Nobécourt, Olivier Litzka, Naveed Siddiqi and Raphaël Wisniewski. Its team of eleven professionals brings together extensive life science industry experience, and several decades of private equity and venture capital knowledge.
BioDiscovery was one of the first funds in Europe wholly dedicated to the life sciences, and remains one of the largest, pure-play funds in Europe focused on leading investment in life science companies across the development spectrum. The team brings an impressive global network, and a breadth of experience across the healthcare industry, which makes it an ideal strategic partner to innovative companies, providing both financial and scientific guidance throughout their development.
About Edmond de Rothschild Investment Partners
Paris-based Edmond de Rothschild Investment Partners is dedicated to minority investments into privately-owned companies. It currently has about €2 billion under management which is being invested primarily as life sciences venture capital, growth capital and mezzanine debt.
BioDiscovery Funds, including BioDiscovery 5, are venture capital funds registered via the fast-track procedure. These funds are not authorized by the Autorité des Marchés Financiers and may adopt special investment rules. BioDiscovery 5, a Venture Capital Fund registered via the fast-track procedure, invests mainly in private companies, which involves specific risks such as a risk of capital loss, a discretionary management risk and a liquidity risk.
For further information please contact:
Edmond De Rothschild Investment Partners
+33 (0) 1 40 17 26 51
Consilium Strategic Communications
Amber Fennell, Ivar Milligan, Melissa Gardiner, Lindsey Neville
+44 (0) 20 3709 5700