Life Sciences Partners launches €250m fund

Launched in April 2011, the fund is open-ended and targets businesses in the biotechnology market. Fees include a 1.5% management fee and 20% performance fee.

Investors
Capital will be raised through an IPO on the NYSE Euronext Amsterdam stock exchange. Shares will be traded for €100 per share from 27 April through the Euronext fund service system for open-end investment funds.

Investments
The vehicle will invest in small- and mid-cap companies with innovative technologies, a competitive advantage and a product development pipeline consisting of therapeutics that have the potential to offer clinical benefits to a large and/or underserved market. The investment focus lies in biopharmaceutical, specialist pharmaceutical, medical devices, drug delivery, vaccines and diagnostics companies with the potential to realise important clinical milestones, commercial partnerships and with M&A potential.

The fund will continue Life Sciences Partners investment strategy and focus on minority investments primarily in Europe but also in the US. Investments will be made in primary and secondary offerings, follow-on offerings, block trades and IPOs. Targeted companies are listed European firms with a market capitalization of below €1bn at the time of investment. The fund is also planning to provide capital for add-on acquisitions for invested companies and will not invest more than 15% of the total fund size in one single company.

People
The investment team includes Mark Wegter, Joep Muijrers and Geraldine O'Keeffe.

Advisers
Clifford Chance (Legal & tax due diligence)
KAS BANK N.V. (Custody bank, fund agent & administrator)
KPMG Accountants N.V. (Accounting due diligence)

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• Topics
• Benelux
• Funds
• Netherlands
• Life Science Partners
• Clifford Chance
• KPMG