Business Wire

Medicxi launches first $300m late-stage life sciences fund Medicxi Growth 1 (MG1), backed by Novartis and Verily

Jaa

Medicxi today announces the close of Medicxi Growth 1 (MG1), a new $300 million fund that will focus on growth stage companies in European life sciences.

This Smart News Release features multimedia. View the full release here: http://www.businesswire.com/news/home/20170614006084/en/

With this new late stage fund, Medicxi will help fill a clear gap in Europe, where talented life sciences entrepreneurs do not have access to as much local financial support as their US-based counterparts to expand exciting opportunities into more mature companies.

Cornerstone strategic investors backing this vision in the MG1 fund, are Novartis, Verily and the European Investment Fund (EIF). The fund also includes most of the institutional LPs that previously backed Medicxi’s first fund, as well as several new investors. With Novartis’ investment in MG1, Medicxi now has strategic partnerships with three of the world’s largest pharmaceutical companies.

MG1 will be supported by a Scientific Advisory Board (SAB), which will benefit from the sector expertise of the senior executives of Novartis and Verily.

MG1 is a continuation of Medicxi’s pioneering ‘asset-centric’ investment strategy and will be looking to invest in private or public companies with at least one asset in Phase II or beyond that Medicxi believes can become a licenced pharmaceutical product, meeting unmet medical needs. The backers share Medicxi’s belief that, whilst the European life sciences sector is recognised for its innovation, it has been held back by the lack of growth capital.

Giuseppe Zocco, co-founder of Index Ventures and co-leader of the firm’s first growth fund in 2007, will be the Medicxi Partner responsible for a dedicated growth team. This team will be fully integrated with the established Medicxi team.

Francesco De Rubertis, co-founder and Partner at Medicxi, said: "The backing by Novartis and Verily is extremely exciting for us. We look forward to inspiring and insightful sessions of the Scientific Advisory Board. We believe these meetings will greatly benefit our portfolio companies."

Andrew Conrad, CEO of Verily, said: “We are excited to partner with Medicxi, Novartis and EIF to help European life sciences innovators accelerate patient and physician access to new and promising therapeutics.”

Pier Luigi Gilibert, Chief Executive of the European Investment Fund, said: “The combination of Novartis, Verily and Medicxi will have a positive impact on the future of the life sciences sector in Europe. Since it was spun out of Index Ventures, Medicxi has continued to be a leader in the life sciences investment community, and this new fund offers us the opportunity to support companies with growth potential that for too long have had to look elsewhere.”

Giuseppe Zocco, co-founder and Partner at Medicxi, said: “This late-stage growth fund will support ambitious European entrepreneurs who are willing and able to build innovative companies through advanced clinical development and market entry, rather than pursuing a premature and generally suboptimal early exit through partnering or M&A."

Since 2016, Medicxi has raised in excess of $500 million of new capital to invest across early and late stage companies through MV1 and MG1.

-Ends-

Contact information

Enquiries:
Medicxi
Ursula Lucas, +41 227078639
ursula@medicxi.com
or
Instinctif Partners
Sue Charles / Gemma Harris / Alex Shaw, +44 20 7457 2020
medicxi@instinctif.com

Tietoja julkaisijasta

For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.

Tilaa tiedotteet sähköpostiisi

Haluatko tietää asioista jo ennen kuin ne uutisoidaan? Kun tilaat tiedotteemme tältä julkaisijalta, saat ne sähköpostiisi yhtä aikaa suomalaisen median kanssa. Tilauksen voit halutessasi perua milloin tahansa.

Lue lisää julkaisijalta Business Wire

Logitech Delivers Strong Q2 Sales and Profit Growth24.10.2017 04:00Tiedote

Logitech International (SIX: LOGN) (Nasdaq: LOGI) today announced financial results for the second quarter of Fiscal Year 2018. Q2 sales were $634 million, up 12 percent in US dollars and 11 percent in constant currency, compared to Q2 of the prior year. Q2 GAAP operating income grew 12 percent to $60 million, compared to $53 million in the same quarter a year ago. Q2 GAAP earnings per share (EPS) grew 21 percent to $0.34, compared to $0.28 in the same quarter a year ago. Q2 non-GAAP operating income grew 12 percent to $72 million, compared to $65 million in the same quarter a year ago. Q2 non-GAAP EPS grew 14 percent to $0.40, compared to $0.35 in the same quarter a year ago. “We delivered another strong quarter of growth,” said Bracken Darrell, Logitech president and chief executive officer. “Gaming and Video

Proton OnSite Has Been Awarded a Contract for Approximately USD 1.8 Million and Assumes the Lead Role in the US Government Advanced Water Splitting Benchmarking Project24.10.2017 00:02Tiedote

Proton OnSite (Proton), a wholly owned subsidiary of Nel ASA, Oslo Norway (Nel, OSE:NEL) has been awarded a contract for approximately USD 1.8 million to participate in the US Department of Energy’s (DOE’s) Advanced Water Splitting Benchmarking Project. This is a critical piece of DOE’s HydroGEN Energy Materials Network (EMN) consortium, which was launched to accelerate the discovery and development of materials for low cost hydrogen production, enabling energy storage, resiliency and economic opportunities across sectors. Proton will work with DOE National Laboratories and lead a team to ensure that all experimental results across the water splitting research community are properly vetted, standards are set for comparison, and roadmaps are developed including research priorities and capability needs. Kathy Ayers, Proton’s Vice President of Research and Development, has been named overall project

SES Networks Works with Project Loon to Restore Connectivity in Puerto Rico23.10.2017 20:14Tiedote

SES Networks' high throughput and fibre-like satellite connectivity service, the stratospheric balloons operated by X, Alphabet’s self-described “moonshot factory”, and local telecommunications expertise are playing a key role in restoring 4G/LTE connectivity in disaster-affected Puerto Rico, SES announced today. This press release features multimedia. View the full release here: http://www.businesswire.com/news/home/20171023006165/en/ SES Networks Works with Project Loon to Restore Connectivity in Puerto Rico (Photo: Business Wire) The connectivity is powered by Project Loon's targeted cell coverage and SES Networks' O3b FastConnect, a rapidly deployable satellite terminal delivering fibre-like performance. Together with local technology partners, SES Networks and X are providing reliable high-performance connectivity to Puerto Ricans whose lives have been dev

Sagemcom Unveils the Next-Generation Multi-Gigabit Solutions23.10.2017 19:05Tiedote

AFTER THE SUCCESS OF ITS ONE GIGABIT GATEWAY RANGE, SAGEMCOM RELEASES TO THE OPERATORS THE NEXT GENERATION MULTI-GIGABIT GATEWAYS – VDSL 35B / G.FAST / PON, 2.5G/10G PON, DOCSIS 3.1 – INTEGRATING HIGH EFFICIENCY 802.11AX Wi-Fi, IN ADDITION TO NEW SMART HOME CONNECTIVITY SOLUTIONS INCLUDING DISTRIBUTED WI-FI, VOICE CONTROL AND HOME AUTOMATION. The VDSL 35B / G.fast / FTTH / PON universal gateway, F@st 5380, integrates G.fast 212MHz, GPON and 802.11ax Wi-Fi, enabling the operators to deliver Multi-Gigabit end-to-end services, and to meet the growing bandwidth required by the end-users. F@st 5380 benefits from the last innovations of the in-house field proven Sagemcom SWANTM software suite including big data, Wi-Fi distribution, smart diagnostics… The next generation Fiber gateways range includes two products: F@st 5688ax for 10G PON (XGS-PON

Moody’s Analytics Launches the CreditLens™ Platform23.10.2017 18:43Tiedote

Moody’s Analytics has launched the CreditLens platform, our next-generation credit origination and risk monitoring solution. This new platform offers flexibility, configurability, and efficiency to lending institutions striving to establish smarter and leaner loan origination practices. The CreditLens platform reduces time-to-decision while tapping into powerful models and insightful analytics that help lenders manage risk and drive productivity. Lenders gain efficiency from the solution’s automated spreading capability and a flexible model authoring module. They also gain deep insights from built-in Moody’s Analytics Risk Grading features and Business Insights dashboards, which provide a complete view of the lender’s credit relationships. Automation in the platform also reduces errors and preserves data lineage throughout the credit assessment and origination process.

Knopp Biosciences Announces Renewal of NIH Blueprint Grant Award for Advancing KCNQ2 Modulators in Epilepsy23.10.2017 18:11Tiedote

Knopp Biosciences LLC today announced the renewal and expansion of its grant award from the National Institutes of Health Blueprint Neurotherapeutics Network to advance novel treatments for epilepsy. The Phase 2 award under the NIH Small Business Innovation Research (SBIR) program anticipates NIH support of up to $2 million over the next three years of the project, subject to satisfactory completion of milestones. The renewal follows the successful completion of all milestones under a previously awarded Phase 1 grant of $400,000. Knopp is directing its potassium channel activator program to preclinical and clinical development of small-molecule drug candidates against a validated, anti-seizure pharmaceutical target encoded by the KCNQ2 gene. Knopp intends to advance novel, small-molecule KCNQ2 activators in neonatal epileptic encephalopathy, a rare disorder caused by inherit

Uutishuoneessa voit lukea tiedotteitamme ja muuta julkaisemaamme materiaalia. Löydät sieltä niin yhteyshenkilöidemme tiedot kuin vapaasti julkaistavissa olevia kuvia ja videoita. Uutishuoneessa voit nähdä myös sosiaalisen median sisältöjä. Kaikki STT Infossa julkaistu materiaali on vapaasti median käytettävissä.

Tutustu uutishuoneeseemme