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NeoMed holds €70m VC fund second close

The Scandinavian-headquartered life sciences venture capital firm has held a second closing of its fourth healthcare fund.

NeoMed Management has announced a second closing on €70 million ($87 million) of its latest healthcare and life sciences venture capital fund.

NeoMed Innovation IV LP, a Jersey-domiciled vehicle, is aiming for a final target of €100 million later this year.

The fund attracted commitments from institutional and private investors based in Norway, Saudi Arabia, Sweden, Switzerland and the UK.

Commenting on the close, NeoMed founding partner Erik Amble said in a statement: “We are pleased to be on track establishing our fourth fund with an international, institutional investor base.”

The fund will continue the firm’s previous strategy investing in emerging healthcare and life sciences companies in Scandinavia, continental Europe and, to a lesser extent, the UK and the US.

NeoMed’s recent portfolio investments include Axovan, Kuros BioSurgery, Thommen Medical in Switzerland, Clavis Pharma in Norway and Paion in Germany.

The firm also invests in the US, mainly through syndicated investments alongside local venture capitalists.

NeoMed currently manages three other life sciences investment funds, raised in 1997, 1998 and 2001 respectively.