Investment & Fund Management
million
Full Credential Description
Medicxi recently announced the close of its new USD 300 million fund, Medicxi Growth 1 (MG1), which is specifically designed to address the funding gap in European life sciences for late-stage drug development companies. The fund aims to support talented life sciences entrepreneurs in Europe who have historically lacked access to sufficient local financial resources compared to their US counterparts.
The strategic backing from major pharmaceutical companies such as Novartis and Verily, along with the European Investment Fund (EIF), underscores the fund's credibility and potential impact. These partnerships not only provide financial support but also enhance the fund's strategic direction through the establishment of a Scientific Advisory Board (SAB) composed of senior executives from these companies. This board is expected to leverage their expertise to guide portfolio companies through advanced clinical development and market entry.
Medicxi's investment strategy focuses on companies with at least one asset in Phase II or beyond, aiming to transform these assets into licensed pharmaceutical products that meet unmet medical needs. The establishment of MG1 is a continuation of Medicxi's asset-centric investment approach, which has already seen the firm raise over $500 million since 2016 to invest in both early and late-stage life sciences companies. This initiative is anticipated to significantly bolster the European life sciences sector by providing the necessary growth capital to innovative companies that have previously struggled to secure funding.