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Bailey McCann, Opalesque New York: Milan-based XGEN Venture - a newly formed Venture Capital firm - has reached a first close of its debut life sciences fund on €160 million. The firm is looking to make venture investments in as many as 15 companies over the lifecycle of the fund.
The firm says a good portion of XGEN-backed companies will be formed from technologies originated in Italian research institutes.
Known institutional investors in the fund include UniCredit, Quaestio Capital, Banco BPM, Inarcassa, ENPAM, Fondazione di Sardegna and Banca Sella Holding. Micheli Associati, the majority shareholder of Genextra serves as an anchor investor for the fund.
XGEN has, so far, invested in five companies including Page Therapeutics and Nouscom, focused on breakthrough therapies to treat cancer, Protembis, improving cardiovascular interventional procedures, TES Pharma, a drug-discovery boutique targeting orphan receptors, and a - soon to be announced - gene-therapy company for rare diseases.
XGEN says it plans to maintain article 8 ESG standards within the fund.
XGEN founders and managing partners, Paolo Fundaro, Federica Draghi and Daniele Scarinci previously held roles at Genextra. The three partners were the first in Italy to specialize in life science venture capital investments, successfully investing over €200 million in early stage startups. The founding partners, the venture partners and the team members have all invested in the fund, wi...................... To view our full article Click here
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