Pharmaceutical firm Helsinn has co-anchored the second iteration of Luxembourg-registered medical investment vehicle 3B Future Health Fund, which has a €100m ($118m) target for its close.
The vehicle is co-anchored with the Braglia family, with additional commitments by undisclosed private and institutional investors.
Lemanik Asset Management has been appointed as a fund manager for 3B Future Health Fund II, which will invest in early-stage companies located in Europe and the US that are developing treatments for cancers and rare diseases.
Riccardo Braglia, general partner at 3B Future Health and chairman of Helsinn Group said: “I have been delighted at the success of the first fund. 3B Future Health Fund II will be underpinned by the same core principles of quality, integrity and respect that characterise my family and the Helsinn Group as a whole.”
Helsinn had committed $50m to the fund’s predecessor, 3B Future Health Fund I, in 2016. The debut fund, formerly known as Helsinn Investment Fund, has backed companies such as cancer immunotherapy developer OncoResponse and bone regeneration technology developer GreenBone Ortho.