Press Release.
Final Fund Size of £101.3 Million ($158 Million)
10th July 2012, London: Advent Life Sciences today announced an investment into its Life Sciences Fund I from a new institutional investor, and increased commitments from certain existing LPs. This brings the Fund to an aggregate amount of £101.3m (€128m, US$158m). The Fund, which closed in November 2010, was re-opened to accept the new and increased commitments. Advent Life Sciences Fund I is dedicated largely to early stage UK and European Life Sciences Venture companies.
Raj Parekh, General Partner, commented
“We appreciate the strong support from our new and existing LPs. Advent Life Sciences Fund I has been raised almost entirely from independent financial investors, despite the difficult fundraising environment. The Fund has now exceeded our initial target.”
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About Advent Life Sciences:
Advent Life Sciences is the dedicated Life Sciences team at Advent Venture Partners, one of Europe’s best established growth and venture capital firms. Advent Life Sciences invests predominantly in early-stage and growth equity life sciences companies in the UK, Europe and the US. It will back companies that have a first- or best-in-class approach in a range of sectors within the life sciences, including new drug discovery, enabling technologies, med-tech and diagnostics.
Advent Life Sciences is a leader in European life sciences venture capital. Its investments include: PowderMed, a therapeutic DNA vaccine company sold to Pfizer; Thiakis, an obesity treatment company acquired by Wyeth Pharmaceuticals; Respivert, a drug discovery company focused on respiratory diseases that was acquired by Johnson & Johnson; EUSA Pharma, a transatlantic speciality pharmaceutical company acquired by Jazz Pharmaceuticals; Avila Therapeutics, a biotechnology company developing targeted covalent drugs acquired by Celgene Corporation, Micromet, a biotechnology company acquired by Amgen and Algeta (OSE: ALGETA), an oncology company developing treatments for bone metastases and disseminated tumours.
For more information contact:
Advent Venture Partners (London)
Josephine Defty
Ph: +44 (0) 20 7932 2116
Email: Josephine@adventventures.com
