The new vehicle will make between 15 and 20 investments in therapeutic drug companies and a combination of medical technology and molecular diagnostic companies, investing up to €15m per deal.
Investors in the new fund include most of Edmond de Rothschild Investment Partners’ life science existing investor base, including La Compagnie Financière Edmond de Rothschild, La Caisse des Dépôts and Amgen. Other investors include health insurance companies, public pension funds, social institutions and institutional investors.
The closing of BioDiscovery 3 brings the total funds under management for life science investments close to €300m.
In the past eight years, ERIP has invested in approximately 30 life science companies, progressively becoming a lead investor with exits including five trade sales like Spine Next,U3 Pharma and a total of seven IPO’s among which OncoMethylome Sciences, Cellectis and ExonHit.