Funding
AstraZeneca-CICC Investment Fund, the $1bn fund formed by pharmaceutical firm AstraZeneca and investment bank China International Capital Corporation, co-led a series B round for China-based gene-sequencing technology developer Axbio sized at almost $100m yesterday. The round was co-led with Yunfeng Capital and also featured CBC Group, CMG-SDIC Capital and 5Y Capital.
Funds
Another pharmaceutical producer, Eli Lilly, is among the limited partners that contributed to the €470m ($504m) first close of life sciences-focused venture capital firm Forbion’s Growth Opportunities Fund II. The fund has outstripped its €450m target and is also backed by PME, PMT, Ewing Marion Kauffman Foundation, Reggeborgh, Pantheon and Wealth Management Partners.
Germany-based VC fund Carma Fund I was launched today by backers including drug discovery services provider Evotec with €47m ($50m) of capital to help commercialise early-stage life science projects. The launch consortium also features Innovectis, Ascenion, European Investment Fund and undisclosed others.
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