Medical imaging technology producer Guerbet has made a €15m ($16.8m) equity investment in BioMedTech a France-based fund managed by life sciences-focused venture capital firm Truffle Capital.
BioMedTech is raising €200m that will be invested in roughly 12 France-based companies developing medical technology and biotech.
Truffle Capital has set five investment criteria for BioMedTech, which is seeking companies demonstrating the capability of developing life-changing technologies for patients, and those with the potential of becoming world leaders in their sectors within six to eight years.
The fund’s investment targets will include companies working on minimally invasive interventional treatments such as connected prosthetics, robotics and virtual biopsies.
Biotechnologies, such as breakthrough improvements in the cardiovascular, osteoarticular and infectious diseases fields, will also be considered, as will areas like neurology, dermatology and oncology.
BioMedTech is also looking for evidence of strong management teams and boards of directors from the outset, a strong portfolio of intellectual property with licensing freedom, and companies operating in sectors it believes are attractive for acquisitions or flotations.
Guerbet develops contrast agents used in medical imaging such as X-rays. Its products are used in computed tomography scans, catheterisation laboratory work, magnetic resonance imaging and interventional radiology and theranostics.