KLS Partners holds €44m first close for second fund


biotech_lrgVenture capital firm KLS Partners held a €44m first close for its second fund, which was backed by GlaxoSmithKline, bpifrance and venture firms  Idinvest Partners and NEA.

Kurma Biofund II, which has a €75m target, is the first venture fund focused on innovations in the rare diseases segment.

The firm said its investment model is supported by a network of partnerships with European clinical and academic research institutes and its asset centric approach, which helps mitigate risks and shortens the investment cycle.

General partner at NEA David Mott said, NEA is pleased to partner with KLS to build a new fund with a special focus on early stage therapeutics for rare diseases.

“Kurma Biofund II represents an exceptional opportunity for new therapies and shows our transatlantic focus on rare diseases.

“We look forward to working with prestigious academic centers and pharmaceutical companies to screen new projects and develop selected companies in orphan diseases in Europe.”

Paris-based KLS recently led a €17m Series B financing round for Barcelona-based medical testing device maker STAT-Diagnostica.

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