Scandinavian Rare Disease Venture Fund Launches with $124 Million

Scandinavia-based venture capital firm Sound Bioventures said it closed its first fund at $124 million (€110 million) to invest in companies with assets in clinical or about-to-be-clinical stage in primarily orphan and rare diseases.

Photo: Casper Breum, managing partner and co-founder of Sound Bioventures

The fund has a geographic footprint on both sides of the Atlantic and will invest in European and U.S.-based private biotech companies supporting the clinical development of novel medicines for diseases of high unmet medical need.

Sound Bioventures is anchored by Novo Holdings, Saminvest, Vækstfonden, the European Investment Fund, and Ramsbury Invest, as well as the founders. The EIF investment is made possible under the European Guarantee Fund.

The fund will be managed by a founding team with extensive experience in venture investing and operational drug development. The team includes Casper Breum, who has a background from Novo Nordisk, Lundbeck, and Lundbeckfonden Ventures; Johan Kördel who brings experience from Pharmacia, Biovitrum, and Lundbeckfonden Ventures; and Bibhash Mukhopadhyay, with a background at J&J, AstraZeneca, and NEA.

“Our bridgehead in the U.S. makes us different from many other European-based life science venture investors. Apart from giving us access to a high- quality deal flow from the U.S., it also positions us to bringing relevant U.S.-based investors into our European portfolio companies,” said Casper Breum, managing partner and co-founder of Sound Bioventures.

Author: Rare Daily Staff