TVM Life Science Innovation II Fund Closes with Strong Oversubscription

Munich and Montreal, October 28, 2020 /PRNewswire/ -- TVM Capital Life Science, one of the leading life sciences venture capital firms in North America and Europe, today announced the final closing of its latest fund, TVM Life Science Innovation II (hereinafter referred to as “TVM LSI II”). The fund secured total committed capital of $478 million, raised from prominent international investors, including Eli Lilly and Company, other strategic institutional investors, pension funds, endowments, foundations, funds of funds, wealth management firms, major U.S. banks, as well as multi-family and single-family offices across the Americas, Europe, and South Korea. The fund’s investment activities will focus primarily on North America and Europe.

TVM LSI II was significantly oversubscribed. The fund exited its first investment in February 2020.

TVM LSI II will continue TVM’s strategic focus by investing in assets that offer visible and attractive exit strategies from the outset, aiming to maximize returns and provide investors with early liquidity. Approximately 50–60% of the fund’s capital will be allocated to “project-focused companies” (PFCs), in which the fund holds a majority stake, with the goal of advancing early-stage drug candidates in a manner that enhances both capital and time efficiency. The remaining capital will be invested in late-clinical-stage biopharmaceutical companies, as well as commercial-stage medical device and diagnostics companies. TVM LSI II’s proven focus will remain on building a differentiated, first-in-class portfolio spanning diverse indications and development stages.

Steven Luc Marengere, Executive Partner at TVM Capital Life Science, stated, “We are delighted by the strong support from both new and existing investors for TVM LSI II. TVM LSI II represents the largest fundraising effort in TVM’s history since its inception. Furthermore, we extend our gratitude to New York-headquartered OCP and its founder, Joelle Wyser-Pratte, for their pivotal role in securing investments for TVM LSI II across the Americas and Europe.”

Stefan Fischer, Managing Partner (Financing), stated: “We believe that TVM LSI II will not only continue TVM’s success for our investors, but also secure relevant financing to develop new, differentiated treatment options for patients with significant unmet medical needs.”

“The success of this financing strongly validates the innovative, capital-efficient investment strategy we implemented with Eli Lilly and Company in 2012. TVM LSI II plans to invest in approximately 16 early-stage, single-asset PFCs and 10 late-stage companies, with a primary focus on North America and Europe,” said Hubert Birner, Managing Partner at TVM Capital Life Science in Munich.

With the completion of TVM LSI II, Stefan Fischer was promoted to Managing Partner (Financing), and Dr. Sascha Berger was promoted to Partner.

Over the past few months, the TVM investment team has been expanded, with Alexandra MacLean, MD, and Alain Thibault, MD, joining as Directors, and Dr. Valentina Agostina, Catello Somma, and Philipp Lechner joining as Business Managers.