Nordic Biotech rakes in the cash for its second fund  

2006.07.18
Nordic Biotech has raised a further DKK 150 m for its second biotech fund which now has DKK 381 m in capital for investments in new projects

Nordic Biotech based in Copenhagen has raised a further DKK 150 m (USD 25.5 m) for its second biotech fund which now has DKK 381 m (USD 64.8 m) in capital for investments in new projects. The money comes from existing investors including the Employees Capital Pension Fund, the European Investment Fund and W Capital, as well as a new investor, the Lundbeck Foundation, which accounts for about DKK 75 m (USD 12.6 m) of the new funding. Nordic Biotech aims to raise a total of DKK 700 m (USD 119 m) by the end of this year.

Christian Hansen, partner in Nordic Biotech says: "We are in full swing looking for projects that we can invest in. We are looking globally for pharma projects which have progressed into clinical development or are close to it."

Nordic Biotech is focusing on investments in NRDO [No Research Development Only – Ed] companies. "Our strategy is to look globally for well suited projects, establish an associated company here in Denmark with a strong management team, and then sell again globally," comments Christian Hansen.

Nordic Biotech's first fund totalled DKK 381 m (USD 64.8 m), which was invested in a number of rapidly developing biotech companies including LifeCycle Pharma, Curalogic, Aditech Pharma, Forward Pharma, Gastrotech Pharma A/S and Osteologix. The news was reported by financial daily newspaper Børsen.

Link > Nordic Biotech 

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