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VC dollars flowing into Europe

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Is Europe suddenly drawing major biotech venture capital? Xconomy's Luke Timmerman argues as much. The latest example: Domain Associates, a Princeton, NJ- and San Diego-based venture firm has inked a deal with Russia's government-owned RusNano to invest as much as $760 million in Russia- and U.S.-based biotechs. While Russia is oriented in equal economic and geographical measure toward Asia, it also clearly has an eye toward Europe (and the U.S.) for expansion. Timmerman notes that Sofinnova Ventures and Versant Ventures are opening offices in Ireland and Switzerland, respectively, and will seek European investment opportunities. Story | Star-Ledger coverage