Medicxi closes a new 400 million-euro to fund biotechs

European life sciences investment firm Medicxi today announces the closing of Medicxi III, a new 400 million-euro ($488 million) fund. This brings the total amount raised by Medicxi in the last three years to over $1 billion.

From this single fund, Medicxi will invest in early and late stage biopharma companies across the full healthcare continuum from discovery to late stage clinical assets. Cornerstone strategic investors in Medicxi III are Novartis and Johnson & Johnson Innovation (JJDC), both of whom have backed Medicxi in earlier funds. The fund also includes all of the institutional limited partners that previously invested in Medicxi’s funds, as well as several new investors, including established hospital foundations and medical institutions.

Medicxi III will be supported by the Medicxi scientific advisory board, which benefits from the scientific and commercial expertise of senior executives from Novartis, the Janssen Pharmaceutical Companies of Johnson & Johnson, GlaxoSmithKline and Verily (an Alphabet company).