New EUR20m fund for Dutch biomedical start-ups

01 July 2009

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Fund

ING and Rabobank have launched The Life Sciences Fund Amsterdam, a new EUR20m investment fund that will seek to invest in biomedical start-up companies based in the Amsterdam region. The fund aims to bridge the current funding gap in seed funding for academic centres focusing on biomedical projects in the Netherlands. Investments will support companies until they are attractive for continued funding by other professionals, or for an IPO or a takeover.

Investors

ING and Rabobank provided EUR13m while the local Amsterdam municipality and province invested a combined EUR7m.

Investments

The fund will operate as a house fund for biomedical start-ups of the AMC, the Medical Center of the Free University, Dutch Cancer Institute (NKI) and Sanquin blood banks. It will seek to invest in 8-10 biomedical start-ups. The fund has been used by the AMC to complete one investment in AIMM Therapeutics, an Amsterdam-based company that seeks to develop high quality human monoclonal antibodies to treat diseases.

People

The fund is managed by a team including Tom Schwarz and Louise Gunning-Schepers, chairman of the AMC.

Name: The Life Sciences Fund Amsterdam

Launched on: June 2009

Target: EUR20m

Focus: Biotech, Amsterdam

Contact: Tom Schwarz

Louise Gunning-Schepers

Address: Life Sciences Fund Amsterdam BV

Johan Schoonderbeeklaan 12

1411 JA Naarden

Netherlands