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Laxman Pai, Opalesque Asia: European investment firm Life Science Partners (LSP) announced that it has raised over €1B ($1.13bn) for its flagship fund LSP 7.
According to a press release from the Amsterdam-based firm that provides finance for life sciences and health care companies, LSP 7 is the largest life sciences venture capital fund ever raised in Europe to date.
The fund aims to invest in companies developing new drug therapies and medical technologies, to help ensure that their scientific innovations benefit patients. With the LSP 7 fund, the Dutch firm plans to invest in 15 to 20 companies developing new drug therapies and medical technologies. To date, LSP has already invested in four companies.
In November of last year, LSP announced that it had raised EUR 850 million for LSP 7 and that it is intending to join forces with EQT, one of the largest European and top-ten global private equity firms.
''Just one day after the announcement of our partnership with EQT, a large investor decided to pursue a EUR 150 million investment in LSP 7, bringing the fund straight to the maximum size (hard cap) of EUR 1 billion. This investment immediately validates a key rationale for joining EQT: with EQT, we expect that we will be able to raise large funds much faster, serving the life sciences in Europe even better than before,'' said Rene Kuijten, managing partner of LSP and incoming head of EQT Life Sciences.
LSP 7 is, among others, backed by fiv...................... To view our full article Click here
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