Type of information: Financing round
Company: Ysios Capital (Spain)
Investors: European Investment Fund (EIF) European Guarantee Fund (EGF) Health Compartment of the Sustainable Development Umbrella Fund (SDUF)
Amount: €216 million ($260 million)
Funding type: Financing round
Planned used: Ysios BioFund III (YBF III) provides biotech ventures with the resources to develop novel and disruptive therapies for indications with high-unmet medical need, supporting pioneering businesses striving to make a difference in patients’ lives. The fund will invest broadly across multiple therapeutic areas and modalities, targeting seed/early stage and development-stage companies at the forefront of the future of medicine. The total investment size per company will typically be of up to €20 million. Ysios takes lead positions and works closely with entrepreneurial management teams. Emphasis will be placed on building sustainable companies with business models offering dual paths to liquidity. As with previous funds, about 80% of the YBF III investments will target Europe, with a special focus on Spain, while the remainder of the fund will target opportunities in North America. More than 60% of the portfolio has already been constructed, with eight investments made in the last 12 months by blue-chip European and US investors. YBF III has participated in the following fund raisings, mostly taking a lead or co-lead role: • Ona Therapeutics (Oncology, Spain) – €30M Series A • SpliceBio (Gene therapy, Spain) – Seed/company build-up • VarmX (Blood clotting, The Netherlands) – €32M Series B • Lava Therapeutics (Oncology, The Netherlands) – €70M Series C/IPO NASDAQ: LVTX $103M • SparingVision (Gene therapy, France) – €44.5M Series A2 round • Synendos (Neuropsychiatry, Switzerland) – CHF 24M Series A • Adcendo (Oncology, Denmark) – €51M Series A • Cytoki (Inflammation, Denmark) – €38M Series A.
Others: * On May 26, 2021, Ysios Capital, Spain’s largest and leading European venture capital firm specialised in the biotechnology sector, announces that it has closed its third fund, Ysios BioFund III (YBF III) at €216 million ($260 million). Since its inception, Ysios has invested in 33 companies and has brought 14 innovative medical products to market. Currently, over 40 medical products across the portfolio are at the clinical stage for serious diseases and over €1bn has been invested in R&D. Following an initial investment of €30 million, the European Investment Fund (EIF), part of the European Investment Bank Group and a leading player in the European Venture Capital market, mobilised an additional €30 million of participation in the fund. This brings the total EIF related participation to €60 million, representing 27.7% of the total commitments. Out of this additional €30 million investment, €20 million is backed by the European Guarantee Fund (EGF), part of the European Union’s €540 billion response to the economic fallout caused by COVID-19. The remaining €10 million investment is supported by the Health Compartment of the Sustainable Development Umbrella Fund (SDUF), which aims to crowd-in resources from private investors operating in the pharma and med-tech industry and foster collaboration between the latter and VC firms through the VCoE program, particularly emerging managers addressing markets such as Spain, where the innovation potential is relatively untapped.