Index Ventures has just closed a $438.8 million fund, with a big chunk of that slated for biotech companies with a lot to offer in the pipeline. Index is best known for its big score backing Skype. And its earlier successes in technology plays have left it free to jump into healthcare at a time other venture outfits are cutting back.
London-based Index has taken a stake in France's NormOxys, which is developing a new therapy that may have applications in an astonishingly wide range of diseases. The New York Times lists cancer, anemia, stroke, diabetes, Alzheimer's and cardiovascular disease. Aside from its strategy of pursuing clean-tech venture rounds, Index tells the Times its life sciences strategy includes backing developers active in cancer, immunology, inflammation and problems affecting the central nervous system. And it's particularly interested in biotech companies with a 'robust' pipeline.
Index adds that it's looking for new portfolio companies that need some help getting through the next few years--with a view to backing biotechs over a three to seven-year stretch. And their investment strategy straddles the globe.
"Over the past twelve years, we have been fortunate enough to work with some of the most successful entrepreneurs in the world who have started game-changing companies such as Betfair, Skype, MySQL and GenMab," said partner Bernard Dallé. "There are certainly challenges facing many industries right now but, thanks to the ongoing commitment of our limited partners, we can continue to focus on our core strength, that of finding and supporting ambitious, dedicated entrepreneurs."
- check out the release
- read the story in the New York Times