European life sciences investor Medicxi has raised 500 million euros (about $581.6 million) to go directly toward innovative biotechs.
Dubbed Medicxi V, the firm’s sixth fund will support companies “with clear product visions to transform patient care,” according to a Nov. 14 release. The London and Geneva-based VC will channel the money to entrepreneurs creating asset-focused biotechs across all stages of development.
Medicxi has created 16 new companies since its previous fundraise, according to the VC. The new, oversubscribed fund follows the firm’s $400 million fund raised back in 2023.
Since that fundraise, Medicxi has realized more than $1 billion in returns across its portfolio. Several biotech acquisitions played into that investment performance, such as Sanofi’s $1.15 billion buyout of RSV biotech Vicebio and Eli Lilly’s Versanis Bio purchase this year.
Medicxi’s capital-efficient investment strategy “is rapidly scaling,” with six funds closed over the last 10 years for a total above 2 billion euros, Medicxi co-founder and Partner Giovanni Mariggi said in the release.
Just this year, the European VC put down money to back Curevo Vaccine’s efforts to top GSK’s shingles vaccine Shingrix in a $110 million series B. Medicxi also touts other vaccine companies such as Vaxcyte and Vicebio in its portfolio.