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Stock impact report

Medicxi closes fifth fund to back ‘asset-centric' startups [Yahoo! Finance]

Vaxcyte, Inc. (PCVX) 
Company Research Source: Yahoo! Finance
Medicxi, a European life sciences venture capital firm, said Friday it raised 500 million euros, or about $579 million, for its fifth investment fund. The firm will use the new bankroll to continue “asset-centric” investing, or building new companies around one or a few experimental “products” rather than broad drugmaking “platforms.” It'll also support other, existing biotechs that align with its focus, regardless of their stage of development. “Especially in times where generally in the market, capital is constrained, it helps us really focus on the stories that we believe have a higher chance of success of delivering products to patients,” said Medicxi partner and co-founder Giovanni Mariggi. The fundraise comes during a recent upswing in biotech venture funding. According to BioPharma Dive data, at least a dozen young biotechnology companies have raised more than $100 million in private funding since the beginning of October , part of a broader rally Mariggi attributes to l Show less Read more
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