VENTURE CAPITAL FUND raises USD 168 mn and DEMAND remains strong

BB Pureos Bioventures (Pureos) was launched two years ago as venture capital fund focused on private biotech companies developing novel medicines for severe diseases. Bellevue Asset Management AG announced the closing of its first fund, BB Pureos Bioventures L.P. («Pureos») after receiving capital commitments of USD 168 mn. In view of the capital commitments received in early 2021 and the persisting high levels of interest, this fund will likely pass the USD 200 mn threshold at the end of March 2021, when the final closing is scheduled.

Pureos has already invested in 10 biotech firms since inception, several times as lead investor with ultimate responsibility for managing and implementing the entire funding transaction. 40% of these investments are in Swiss biotech companies and a managing partner from Pureos has taken a seat on the boards of directors of these companies, which ensures active oversight of their development.

The team of experts at Pureos have many years of experience in fields ranging from venture capital and business start-ups to biotechnology and drug development. Pureos invests exclusively in innovative private drug development companies that are focused on novel biological drugs and emerging treatment modalities such as nucleic acid, cell and gene therapies. The fund’s portfolio companies are built on scientific excellence with strong teams that are developing therapies across a broad indication spectrum, including oncology, immunology, ophthalmology, rare diseases, and neuroscience. The fund invests globally with a primary focus on Switzerland and Europe.

«Pureos has already invested in 10 biotech firms since inception. 40% of these investments are in Swiss biotech companies»

After the initial launch of its first fund, Pureos set out to build a balanced portfolio of 15 to 20 young pre-clinical and clinical-stage companies. Investments have already been made in Alentis Therapeutics AG, AM-Pharma BV, Araris Biotech, Eyevensys SAS, Imcheck Therapeutics SAS, Lava Therapeutics BV, NovaGo Therapeutics AG and Vico Therapeutics BV. The most recent addition to the portfolio is Corlieve Therapeutics SAS (see info box). Pureos is particularly interested in seed and start-up transactions. The company is a partner of BaseLaunch, a biotech accelerator for start-ups, and it works with a team of entrepreneurs-in-residence to translate groundbreaking scientific research into novel enterprises.

Founding partners Klaus Breiner, Dominik Escher and Martin Münchbach: «With Pureos, we aim to help build and support world-class teams that develop innovative therapeutics to treat serious diseases, thereby improving patients' lives.»

The investors and partners behind the first Pureos fund include long-term business strategists from the pharmaceutical and biotech sector, a large drug contract manufacturer, family offices, institutional investors, and fund-of-funds.