European investors back early-stage biotech fund

BioWorld details the strategy adopted by QureInvest, a new venture firm that is taking stakes in European start-up developers. Karsten Henco, portrayed as one of Europe's most successful biotech entrepreneurs, and 10 other individuals have put up close to $25 million in the fund. And that figure could double in the near future.

QureInvest plans to invest anywhere from $5 million to $10 million in each of the companies it backs, targeting firms that have a good shot at quickly out-licensing programs to big pharma companies. Biotechs in German-speaking countries will get their initial investments, but Henco is bullish about the fund's global prospects.

"If our business model flies, we would probably try to get active in the States as well. For that we would need more money," Henco told BioWorld.

- check out the article in BioWorld

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