Amsterdam, November 6, 2008 -- LSP (Life Sciences Partners) today announced the first closing of its fourth fund at € 75 mln. LSP IV is a venture capital fund dedicated to investments in private life sciences companies in Europe.
Founded in 1988 as a pioneer in life sciences venture capital, the LSP Group has grown to become one of Europe's premier life sciences investors. The Group has raised over € 500 mln since inception and invests from its offices in Amsterdam, Munich, and Boston. The LSP Group invests in private companies as well as small cap public companies and spans the entire life science arena, including drug development, diagnostics, medical instruments, agriculture, food, cleantech and biofuels. The Group has invested in over 60 companies and created a track record of more than 25 successful exits through IPO's at the European stock exchanges and trade sales to major pharmaceutical enterprises.
The new fund, LSP IV, will be dedicated to private human life sciences companies in Europe. These companies offer significant return potential as the cash-rich large pharma companies are increasingly acquiring biotech firms to fill their product pipelines. The fund is backed by both existing and new investors from Europe and the United States. Most notably, both GSK and Pfizer invested in LSP IV, signalling their support for LSP as well as their interest in European biotech.The fund will remain open for new investors for some months.
"The European biotech space continues to offer high potential new investment and exit opportunities. With our 20-year experience and track record, and our skilled professionals that have operated as a team over many years, we have all elements in place to make LSP IV a success. The backing by our previous investors as well as several new ones in the current economic climate, provide us with confidence that investors like what we are doing", said Martijn Kleijwegt, Managing Partner at LSP.
For further information, please contact:
Life Sciences Partners
Tel: +31 20 664 5500