Newton Biocapital’s first fund was instrumental in establishing four spinouts and it has raised $57m towards its $172m goal for its second vehicle.

Newton Biocapital, a Belgium-based life sciences venture capital firm, secured €50m ($57m) in capital for its second fund today from limited partners including Belgian sovereign wealth fund SPFI/FPIM as a cornerstone investor.

Several limited partners from the first vehicle have returned for the second fund, though none were identified.

Like its predecessor fund, NBC II will focus on pre-clinical and clinical-stage companies working on therapies for chronic diseases. The firm’s strategy relies on leveraging research in Europe and Japan, and it strictly invests in line with its environmental, social and corporate governance policy.

Although Newton does not explicitly have the creation of spinouts as a mission statement, NBC I was instrumental in establishing four such companies: Epics Therapeutics and ChromaCure, two oncology spinouts of Université libre de Bruxelles (ULB); NeuVasQ Biotechnologies, a neurological disorder drug developer also spun out of ULB; and AbolerIS Pharma, an immunology spinout…

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Thierry Heles

Thierry Heles is the editor of Global University Venturing, host of the Beyond the Breakthrough interview podcast and responsible for the monthly GUV Gazette (sign up here for free).