European venture capital firm Ysios Capital is looking to raise some $137.8 million (€100 million) in support of its lifesciences investment activities.
Ysios plans to use funds from the investment pool, which the company calls its BioFund II, to support up to 15 lifesciences companies with disruptive potential. The company in 2008 raised about $95 million (€69 million) for its BioFund I, according to a press release.
"Life sciences continue to be a very attractive sector for specialized investors," managing partner Joël Jean-Mairet said in prepared remarks. "Today’s national healthcare systems face significant and growing challenges, including an aging population, reimbursement challenges and still a very significant number of unmet medical needs."
"These challenges create a tremendous opportunity for innovation," he added.
Ysios hopes to repeal the successes of BioFund I, which paid out for investors in 2011, 2012 and 2013. Previously funded companies have achieved "financially lucrative exits." Ysios invested in Endosense, which sold to St. Jude Medical (NYSE:STJ) for $331 million in August 2013. Ysios also invested in BioVex, which sold to Amgen (NSDQ:AMGN) for up to $1 billion.
Ysios plans to invest in medical devices, pharmaceuticals and diagnostics. As with BioFund I, the new BioFund II round will invest in companies alongside other funders and corporate venture investors.
