Kurma funds EU
Kurma Partners' Biofund IV Achieves First Close at €140 Million
Overview:
On October 3, 2024, Kurma Partners, an asset manager specializing in healthcare investments, announced the successful first close of its Biofund IV, raising €140 million out of its €250 million target. The fund aims to invest in 16-20 innovative biotech companies, following a balanced and risk-managed strategy.
Biofund IV Highlights:
Target Fund Size: €250 million
First Close: €140 million achieved in October 2024
Investment Focus: 16-20 new companies in therapeutics, both startups and established ventures
First Investments: SciRhom (autoimmune), Memo Therapeutics (natural immunity), and Avidicure (cancer immunotherapies)
Strategic Investment Approach:
Kurma Partners actively collaborates with academic scientists and industry professionals to drive innovation. This collaborative approach, combined with Kurma’s curated network, enables companies in its portfolio to thrive.
Track Record:
Biofund III's notable acquisitions:
Amolyt Pharma (by AstraZeneca)
Emergence Therapeutics (by Eli Lilly)
Corlieve Therapeutics (by UniQure)
These successes have provided significant momentum for Biofund IV’s fundraising.
Key Quotes:
Thierry Laugel (Managing Director): Emphasizes the importance of access to exceptional science and collaboration in impacting Europe's health innovation ecosystem.
Daniel Olive (Imcheck Therapeutics, Emergence Therapeutics): Credits Kurma's ability to turn academic research into successful industrial applications.
Olivier Millet (Eurazeo): Points to Kurma's expertise in transforming scientific innovations into marketable products.
Dr. Andrew Nash (CSL): Highlights Europe's biotech ecosystem and Kurma’s role in converting scientific discoveries into groundbreaking therapies.
Investor Support:
The fund has attracted investments from cornerstone investors like Eurazeo, returning investor Bpifrance, and new pharmaceutical industry investor CSL. Their commitment reinforces confidence in Kurma’s strategy to generate positive returns and advance human health.
Final Thoughts:
Kurma Partners’ Biofund IV is set to continue building on its established collaborative model, identifying groundbreaking scientific opportunities and transforming them into impactful health innovations. This investment marks another significant step in the European biotech ecosystem.
For further details, visit the official press release here.