European life sciences VC 3B Future Health Ventures is targeting €100 million and partnering with “experienced private and institutional investors” with its second fund.
Coming after the 3B Future Health Fund I, formerly known as Helsinn Investment Fund, this second investment stream is focused on early-stage investment opportunities in areas of high unmet patient need, according to a statement.
In geographic terms, the new fund will seek out U.S. and European-based startups, specifically working on cancer and rare disease meds, which typically have high risk but high financial rewards attached to them. No focus on infectious diseases or vaccines, which other more recent funds have pivoted toward after the pandemic, brought this neglected research area back under the spotlight.
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“I’ve been delighted at the success of the first fund. 3B Future Health Fund II will be underpinned by the same core principles of quality, integrity and respect that characterize my family and the Helsinn Group as a whole,” said Riccardo Braglia, chairman of Helsinn Group and general partner, said.