Type of information: Financing round
Company: Medixci (UK - Switzerland)
Investors: Novartis (Switzerland) Verily, an Alphabet company (USA - CA) European Investment Fund (EIF) (EU) institutional LPs
Amount: $300 million
Funding type: financing round
Planned used: The late-stage life sciences fund Medicxi Growth 1 (MG1) will focus on growth stage companies in European life sciences. This new late stage fund aims to help fill a clear gap in Europe, where 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. 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. This fund 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.
Others: • On June 14, 2017, 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. 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.