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Life Sciences Partners (LSP). (2/11/22). "Press Release: LSP Closes EUR 1 Billion Flagship Fund LSP 7 to Invest in Life Sciences Companies". Amsterdam.

Region Region Europe
Organisations Organisation LSP 7 fund (Life Sciences Partners)
  Group EQT (Wallenberg family) (Group)
  Organisation 2 EQT AB
  Group EQT (Wallenberg family) (Group)
Products Product LSP 7 fund (Life Sciences Partners)
  Product 2 LIFE SCIENCES
Index terms Index term Life Sciences Partners–SEVERAL: investment, –202111–202202 final closing of LSP 7 fund at hard cap of €1b
  Index term 2 Life Sciences Partners–EQT: investment, 202111–202202 acquisition €450m upfront with €112.5m in cash + €337.5m in shares plus €25m milestones
Person Person Kuijten, René R. (Life Sciences Partners 201403 General Partner)
     


LSP announced today that it has raised over EUR 1 billion for its flagship fund LSP 7. This constitutes the final close of the largest life sciences venture capital fund ever raised in Europe to date. The fund aims to invest in companies developing new drug therapies and medical technologies, to help ensure that their scientific innovations benefit patients.

In November of last year, LSP announced that it had raised EUR 850 million for LSP 7 and that it is intending to join forces with EQT, one of the largest European and top-ten global private equity firms. ‘’Just one day after the announcement of our partnership with EQT, a large investor decided to pursue a EUR 150 million investment in LSP 7, bringing the fund straight to the maximum size (hard cap) of EUR 1 billion. This investment immediately validates a key rationale for joining EQT: with EQT, we expect that we will be able to raise large funds much faster, serving the life sciences in Europe even better than before’’ says René Kuijten, managing partner of LSP and incoming head of EQT Life Sciences.

LSP 7 is, among others, backed by five pharmaceutical companies of which four from Asia and one from the US. The strong support by pharma demonstrates their interest in European life sciences ventures and, in the view of LSP, validates its track record and industry standing. The firm expects to invest LSP 7 in 15-20 companies developing new drug therapies and medical technologies. Until today, four investments have already been completed: Evommune (dermatology and immunology), Egle Therapeutics (oncology and autoimmune diseases), Hotspot (autoimmune diseases, rare diseases and oncology) and an undisclosed radiotherapy company.

As communicated earlier, the transaction with EQT is expected to close in Q1 2022. LSP will then be renamed to EQT Life Sciences.


For more information please contact:
Dr. René Kuijten, Managing Partner of LSP
rkuijten@lspvc.com


About LSP

LSP is one of the largest European investment firms providing financing for life sciences and health care companies. LSP’s management has raised over EUR 3.1 billion (USD 3.6 billion) and supported the growth of more than 150 companies since it started to invest over 30 years ago, including signature deals such as argenx, Crucell and Neuravi. With offices in Amsterdam, Munich and Boston, LSP currently has the possibility to invest through several strategies, each having a distinctive investment scope and a dedicated team. LSP is an active contributor to the global life sciences industry and the European life science eco-system by assuming roles as initiators, founders and board members in various private and public bodies and organizations, for example being founder and board member of the Oncode Institute. More info: lspvc.com
Follow LSP on LinkedIn


About EQT

EQT is a purpose-driven global investment organization with more than EUR 73.4 billion in assets under management across 28 active funds. EQT funds have portfolio companies in Europe, Asia-Pacific and the Americas with total sales of approximately EUR 29 billion and more than 175,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership. More info: eqtgroup.com
Follow EQT on LinkedIn, Twitter, YouTube and Instagram

   
Record changed: 2022-02-17

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