TVM raises $290.8 million for TVM Life Science Ventures VI fund

By Jennifer Chiou

New York, Oct. 5 - TVM said it closed on $290.8 million for TVM Life Science Ventures VI, a new fund focused on biotech and biopharmaceutical investment opportunities.

Investors included European Investment Fund, AlpInvest, KfWBankengruppe, Skandia Liv Asset Management, Temasek Holdings Pte Ltd., the Taiwan government's Development Fund, Quintiles Transnational Corp., Genzyme Corp. and Biogen Idec.

"One of our strategic goals is to build a larger presence in the U.S. biotech industry, as well as the emerging Asian market," Helmut M. Schuehsler, managing partner of TVM Life Sciences, said in a news release.

"Investments from Biogen Idec, Genzyme, Quintiles and the first European investment of Taiwan's Executive Yuan's Development Fund will help us to intensify our access to the important U.S. biotech market and to emerging markets in Asia."

The new TVM fund will focus on drug discovery and development and will fund both early- and late- stage companies in the United States and Europe.

Newron Pharmaceuticals SpA and elbion AG will be the fund's first investments.

Based in Munich, TVM is a life sciences and information technology venture capital firm.

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