EdRip's fourth life sciences fund nears target

The fund held its first close on €125m in June 2012. The vehicle's target is €200m, according to unquote" data, which the firm had hoped to raise by the end of last year.

At the time of the fund's first close, existing investors in previous EdRip funds had contributed more than half of the capital. The new fund's predecessor, BioDiscovery 3, was raised in a far shorter timescale, having launched in February 2008 and closed in May the same year on €150m.

BioDiscovery 4 will focus its investments on the life sciences industry, predominantly in France, according to unquote" data. The fund aims to invest in 15-20 companies operating in the therapeutic drug development sector, as well as medical technology and molecular diagnostics.

According to EdRip's website, the firm's life sciences funds typically act as lead investor in funding rounds and tend to acquire a shareholding of 15-25% in the companies they back.

So far, the fund has backed OncoEthix and Allecra Therapeutics. The former raised €14.65m in April from EdRip, SV Life Sciences, Index Ventures and Endeavour Vision. Allecra received €15m, also in April, from EdRip, EMBL Venture Capital Partners and Forbion Capital Partners.

EdRip partners Gilles Nobécourt, Raphael Wisniewski and Olivier Litzka lead the investment team that manages the fund.

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• Andera Partners