Claris Biotech I holds €30m first closing

Alessia Argentieri
02 September 2020

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Claris Ventures has held a €30m first close for its debut fund, Claris Biotech I, which is dedicated to investments in biopharmaceutical startups in pre-clinical phase.

The vehicle was launched in December 2019 with a target of around €60-80m and expects to hold a final close next year. It has an investment period of four to five years.

McDermott Will & Emery advised Claris on the fundraising.

Claris is an Italian newly established venture capital house launched by founding partners Pietro Puglisi and Ciro Spedaliere in 2019.

The firm focuses on early-stage investments in high-growth potential biopharma companies arisen from the Italian R&D ecosystem. This includes the entire Italian life sciences network, whether the team is based in Italy or comprises Italian scientists abroad who have strong links with Italy.

Investors
Claris Biotech I's LP base is mainly composed of Italian institutional investors, as well as several private investors and family offices. It includes, among others, CDP Venture Capital, which backed the fund via its fund-of-funds FoF Venture Italy; Compagnia di San Paolo; and Ersel Wealth Management.

Investments
Claris Biotech I targets early-stage rounds across the biopharma industry. It plans to invest in 10-12 companies in the pre-clinical phase that are ready to start clinical trials within 12-24 months. Capital injections will be intended to finance the advancement of their research until they reach clinic proof-of-concept and first-in-human trials.

The fund mainly focuses on oncology, immunology, rare diseases and other therapeutic areas with limited treatment opportunities. It leads investment rounds of €5-15m.

Claris intends to provide its portfolio companies with resources, capabilities and connections to complete pre-clinical studies, as well as support project management, finance and strategic development.

The VC has partnerships with the molecular biotechnology centre of the University of Turin and the molecular technology and diagnostic institute Ceinge Biotecnologie Avanzate of the University of Naples.

People
Claris Ventures – Pietro Puglisi, Ciro Spedaliere (founding partners).