Earlybird gets the €173M worm, building nest egg for European healthcare companies

Earlybird Health is taking flight with 173 million euros ($186 million), a nest egg that will go toward European healthcare companies ranging from early development to late-stage tech nearing regulatory approval and commercialization.   

The Earlybird Venture Capital fund will support companies across digital health, diagnostics, medical devices, R&D tools and biopharma sectors, according to a Feb. 14 release.

The tech-agnostic VC will use its AI tool, dubbed Earlybird Eagle Eye, to scout out new startups and gather information. The tech is designed to boost companies’ deal flow by providing market intelligence through competitor analyses and trend reports.

Several institutional investors in Europe participated in the fund, including the British Patient Capital, a commercial affiliate of the government-owned British Business Bank, and BARMER, a leading public health insurer in Germany.

Biotechs currently under Earlybird’s wing include Ariceum Therapeutics, Grey Wolf Therapeutics, ImCheck Therapeutics, Oculis and Priothera.