Medicxi Ventures to launch as independent VC firm

Medicxi Ventures on Tuesday announced the close of Medicxi Ventures 1 (MV1), a new 210 million euro ($250 million) fund that will focus on early-stage life sciences investments.

The venture capital firm said MV1 will predominantly invest in Europe. Pharma major GlaxoSmithKline (LSE: GSK) and Johnson & Johnson Innovation have invested in MV1, the company said in a statement. Collaboration with pharmaceutical companies will continue to be a key strategy helping the firm to deliver on this mission, it added.

Dr Moncef Slaoui, chairman global vaccines and GSK’s representative on Medicxi’s Scientific Advisory Board, said:  "We are delighted to support the Medicxi team and this early stage investment fund. We believe in the potential to create an exciting pipeline of new medicine candidates by collaborating and investing with an asset-centric model. The team at Medicxi has a proven track record in partnering with world-class entrepreneurs and scientists to translate disruptive science from academia and industry into new medicines with demonstrable patient benefits.”