Nordic Biotech scoops extra € 13.5 million  

2002.07.05
New biotechnology venture capital fund attracts new wave of investors

Financial daily newspaper Børsen reports that fledgling biotechnology venture capital fund Nordic Biotech has raised a further €13.5 million to take its total portfolio to over €42 million. New investors include the European Investment Fund and Switzerland's HBM BioVentures. Nordic Biotech has already attracted investment from the American Biotechnology Value Fund, the Danish Growth Fund and the pharmaceutical company H.Lundbeck.

 

Nordic Biotech's main focus areas are start-ups and early growth phase biotech companies. To date it has launched two such companies, Nuevolution and BioLogic, and a third is on the way. Nordic Biotech aims to invest in up to 15 biotechnology companies at the rate of 3 new investments per year.

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