19 July 2019, London, Geneva & Jersey - Leading European life sciences investment firm Medicxi today announces the closing of Medicxi III, a new €400 million fund. This brings the total amount raised by Medicxi in the last three years to over $1 billion.
From this single fund, Medicxi will invest in early and late stage biopharma companies across the full healthcare continuum from discovery to late stage clinical assets. Cornerstone strategic investors in Medicxi III are Novartis and Johnson & Johnson Innovation - JJDC, Inc. (JJDC), both of whom have backed Medicxi in earlier funds. The fund also includes all of the institutional limited partners that previously invested in Medicxi's funds, as well as several new investors, including established hospital foundations and medical institutions.
Medicxi III will be supported by the Medicxi Scientific Advisory Board, which benefits from the scientific and commercial expertise of senior executives from Novartis, the Janssen Pharmaceutical Companies of Johnson & Johnson, GlaxoSmithKline and Verily (an Alphabet company).
The new fund will continue to focus on Medicxi's pioneering 'asset-centric' investment model as well as investing in fully integrated private companies with an underlying platform and/or a pipeline of assets that Medicxi believes can deliver licensed pharmaceutical products to satisfy unmet medical needs.
The size of the fund and the speed with which it was closed reflects the continued maturity of the life sciences sector across Europe, with investors now prioritizing their attention and support for emerging biopharma companies and their efforts to translate breakthrough science into pipelines of new drugs.
Francesco De Rubertis, co-founder and Partner at Medicxi, said: "Medicxi III is one of the largest biotech funds in Europe and consolidates Medicxi's position as a key operating platform for scientific entrepreneurs and drug hunters. We are grateful to our LPs who made it possible to get the fund closed within only a few weeks."
Medicxi is an international investment firm with the mission to create and invest in companies across the full healthcare continuum. Medicxi was established by the former Index Ventures life sciences team and invests in both early stage and late stage therapeutics with a product vision that can fulfill a clear unmet medical need. GlaxoSmithKline, Johnson & Johnson Innovation - JJDC, Inc., Novartis and Verily (an Alphabet company) are investors in Medicxi funds.
Medicxi's team has been investing in life sciences for over 20 years. Globally, it has invested in 89 innovative biopharma companies and achieved 32 exits through IPO and M&A, including Genmab (NASDAQ Copenhagen: GEN), PanGenetics (sold to AbbVie), Cellzome (sold to GSK), Micromet (sold to Amgen), Molecular Partners (SWX: MOLN), XO1 (sold to Janssen Pharmaceuticals, Inc.), Minerva Neurosciences (NASDAQ: NERV), Padlock Therapeutics (sold to Bristol-Myers Squibb), Gadeta (structured transaction with Gilead), Impact Biomedicines (sold to Celgene) and Adaptive Biotechnologies (NASDAQ: ADPT).