Bioqube Ventures launches Bioqube Factory Fund I
Bioqube Ventures launches Bioqube Factory Fund I
Bioqube Ventures announces today the first closing of Bioqube Factory Fund I, a new early stage venture capital fund focused on the development of therapeutics assets and technology platforms in Europe.
Bioqube Factory Fund I will be raised in two closings and has already secured an amount of 60 MEUR in its first round from a balanced mix of investors. Disclosed investors include the European Investment Fund (EIF), PMV (Participatiemaatschappij Vlaanderen), FPIM (Federale Participatie- en Investeringsmaatschappij), Belfius Insurance, Molenwater Groep, the Machiels family, the Dr. Paul Janssen family, the investment vehicles from entrepreneurs such as Aat van Herk, Vic Swerts and Jan Robrechts and strategic investors Genmab A/S and Johnson & Johnson Innovation – JJDC, Inc. Genmab is one of the leading international biotechnology companies specialized in the creation and development of differentiated antibody therapeutics for the treatment of cancer. Johnson & Johnson Innovation – JJDC joined as an investor following Bioqube Ventures’ successful tenure of co-managing with Janssen Pharmaceutica NV (Janssen) the investment and incubation model that was set-up to support the open campus strategy on the Janssen R&D campus in Beerse, Belgium.
“Our engagement with Bioqube Ventures shows the commitment of the European Investment Fund to back new fund managers with strong and relevant skills and experience,” said EIF Chief Executive Alain Godard. “The early stage life sciences venture capital sector in the EU was underserved already before the current crisis, and the EIF is committed to bridging this gap. Life science investments will continue to gain in importance in the coming times and we fully back Bioqube Factory Fund I in making them happen.”
The fund will be active in Europe with a focus on the Benelux, France and Germany. With a unique blend of investors, a fit-for-purpose investment strategy, a hands-on team and privileged access to academic research groups and industry partners, Bioqube Factory Fund I is dedicated to advancing exciting science in these vibrant ecosystems into breakthrough therapies for patients.
“Flanders is a hot spot for life sciences start-ups and scale-ups. PMV warmly welcomes the entrepreneurial approach of Bioqube Factory Fund I to support the creation of a new generation of life sciences start-ups. We are keen to invest in the success stories of the future,” said Michel Casselman, General Manager, PMV.
Koenraad van Loo, Managing Director FPIM: “The Federal Holding and Investment Company is delighted to be participating in this unique concept in which the Bioqube Ventures team will join forces with strategic partners and an extended network with a priceless amount of dealflow and expertise to develop novel therapeutics. We are convinced that Bioqube Factory Fund I will be a key player in the further expansion of the life sciences ecosystem in Europe and Belgium in an ever faster evolving technological and medical environment.”
Bioqube Factory Fund I will target innovations in the healthcare sector focusing on the development of therapeutic assets and disruptive platforms. The fund will apply a dual investment strategy: besides more classical investments in first and subsequent rounds, it will pay special attention for so called “Create” projects that require additional de-risking in an early stage prior to creating new ventures.
“As a leading biotech innovation powerhouse with deep knowledge in antibody biology and a world-class discovery and development engine, we are pleased to join Bioqube Ventures as it builds on our strong belief that the future of transformative new medicines is rooted in networks and collaborations within the R&D ecosystem,” said Jan van de Winkel, President and CEO, Genmab.
The Managing Partners of the Fund are Debora Dumont, Dirk Reyn and Nico Vandervelpen. The new fund builds on the track record of Bioqube Ventures’ team, founded by Debora Dumont and Nico Vandervelpen in 2016. Bioqube Ventures’ team consists of a mix of investment managers, sector experts and serial entrepreneurs that have a proven track record in successfully building and leading companies on their growth paths.
About Bioqube Ventures
Bioqube Ventures is a specialist life sciences investment firm founded in 2016 by Debora Dumont and Nico Vandervelpen and has seen its team grow to 10 people over the past years. Leveraging on the team’s experience in venture capital, drug development, business development and entrepreneurship, Bioqube Ventures enables early stage life sciences companies to maximize their full potential. Bioqube Ventures recognizes the value of industry guidance and has therefore set up strategic relationships with a selected number of industry partners with complementary skills. Managing Partners Debora Dumont, Dirk Reyn and Nico Vandervelpen launched Bioqube Factory Fund I in 2020 with a clear focus on therapeutics. Through a diversified investment strategy, including de-risking projects in a “Create” stage, the Fund will exclusively invest in the most promising innovative science and will put its expertise at work to ensure its portfolio flourishes.
About European Investment Fund
The European Investment Fund is part of the European Investment Bank group. Its central mission is to support Europe’s micro, small and medium-sized businesses (SMEs) by helping them to access finance. EIF designs and develops venture and growth capital, guarantees and microfinance instruments which specifically target this market segment. In this role, EIF fosters EU objectives in support of innovation, research and development, entrepreneurship, growth, and employment.
About InnovFin Equity
This investment is supported by InnovFin Equity with the financial backing of the European Union under Horizon 2020, the Framework Programme for Research and Innovation (2014–2020). Through or alongside selected Venture Capital (VC), Business Angels (BA), Technology Transfer funds and funds-of-funds, the EU provides risk capital financing to enterprises, research organisations, universities in their proof-of-concept, pre-seed, seed, start-up and other early stage phases allowing them to set up or reach their next stage of development.
InnovFin Equity investments, deployed by the European Investment Fund (EIF), can represent up to 50% of the total commitment made by the financial intermediary, who shall demonstrate a high policy fit by targeting in its investment strategy sectors covered by Horizon 2020 including ICT, medical technologies, biotechnologies, green technologies, nanotechnologies, etc. In addition, the facility has been designed to support Horizon 2020 objectives addressing societal challenges such as those related to resource efficiency, bio-economy, health and demographics, and climate change.
PMV is a do and dare company that shapes the economic future of Flanders by investing in its infrastructure and its companies. PMV finances promising companies from the very start to growth and internationalization. PMV offers tailor-made financial solutions for every entrepreneur with a solid business plan and a strong management team, by providing venture capital, loans and guarantees. An experienced and highly motivated team of 125 professionals endeavors every day to achieve the goal of creating prosperity and well-being in Flanders. PMV has about € 1.3 billion in assets under management.
The Federal Holding and Investment Company was created on 1 November 2006 as a result of a merger between the Federal Participation Company and the Federal Investment Company. The federal government is the sole shareholder of the Federal Holding and Investment Company. The Federal Holding and Investment Company (SFPI-FPIM) centrally manages the federal government’s shareholdings, cooperates with the government on specific projects and pursues its own investment policy in the interests of the Belgian economy.
Genmab is a publicly traded, international biotechnology company specializing in the creation and development of differentiated antibody therapeutics for the treatment of cancer. Founded in 1999, the company is the creator of three approved antibodies: Genmab also has a broad clinical and pre-clinical product pipeline. Genmab’s technology base consists of validated and proprietary next generation antibody technologies, which the company intends to leverage to create opportunities for full or co-ownership of future products. Genmab is headquartered in Copenhagen, Denmark with sites in Utrecht, the Netherlands, Princeton, New Jersey, U.S. and Tokyo, Japan.
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