Spanish early stage investment house Ysios Capital has hit €155m for its third life science fund – and could go as high as €200m for the vehicle.
The firm said it would use Ysios BioFund III to invest in companies developing disruptive therapeutic products and platform technologies to address clear medical needs.
It will be used to invest in up to 15 companies, mainly in Europe, with a special interest in Spain, providing between €5m and €10 as an initial investment.
Ysios said it has several projects in advanced stage of analysis and expects to close four investments shortly.
Firm partner Karen Wagner said, “For this third fund, we have a pipeline of very promising projects at advanced stage, both in Spain and in the rest of Europe, and we aim to close at least five operations this year.”
Ysios BioFund III has expanded the firm’s investor base, Ysios said, attracting new national institutional investors, international family offices, and the European Investment Fund through The European Fund for Strategic Investments.
Ysios partner Julia Salaverria said, “In the context of the current COVID-19 pandemic, the biotechnology sector has become even more relevant as one of the key sectors that will prepare society for new health threats.
“Ysios’ specialization as a benchmark investor in biotechnology is fundamental to investors; they see in this new fund an excellent opportunity to invest in a sector that is gaining importance in the institutional investor’s portfolio.”
Ysios says that to date the firm has multiplied by 9.3 the capital invested by its funds in its portfolio companies.
Its big successes in Spain are the sale of Tigenix (formerly Cellerix) to Takeda for €450m, the purchase of STAT-Diagnostica by Qiagen (up to €172m), the two rounds of international financing received by Sanifit (€109.3m in total) and the investment and purchase option of Pfizer into Vivet (up to €540m).
Ysios, which was launched in 2008, now has €346m in assets under management across its three funds.
The firm hit a €126.4m final close for its sophomore fund in 2016, with appetite from family offices and pension helping the fund exceed its €100m target.
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