Montréal, May 22, 2015 – In an effort to attract successful international life science funds to Québec, the Fonds de solidarité FTQ is investing €10.5 million (C$14.3 million) in the Netherlands-based Forbion III fund. Since its inception, Forbion Capital Partners has demonstrated an impressive ability to create value with 11 products at or near market. Current funds under management by Forbion exceed €540 million, split between five active funds and comprising some 28 promising portfolio companies.
This injection of capital completes the Fonds de solidarité FTQ’s current cycle of investments in life science funds. Other recent investments include Lumira Capital II, Sanderling VII, Versant V and CTI Life Sciences Fund II. In the years ahead, the Fonds will shift its focus to direct investments in such entities as GlyPharma, PRCL Research, Zymeworks, Esperas, enGene and Thrasos, all recently announced.
“In the last 15 years, the Fonds has injected nearly $750 million into the life sciences sector to spawn new biotechs and further the growth of existing companies. The Fonds is therefore actively supporting an industry where Québec’s leadership is recognized worldwide while at the same time contributing to the development of beneficial health solutions. This new partnership with Forbion is another example of Québec’s leadership in this field,” said Alain Denis, Senior Vice-President, New Economy, at the Fonds de solidarité FTQ.
“We have invested in the Life Sciences sector in Québec in the past and will continue to actively do so, because we believe that Québec offers great opportunities: great science, ample availability of drug development skills including manufacturing, and a good place for executing clinical studies. We are therefore excited to closely work with the Fonds de solidarité FTQ whom we welcome as an investor in Forbion III”, continued Sander van Deventer, Managing Partner of Forbion Capital Partners.
“A new funding model is needed to respond to the changing landscape of life sciences. Teaming up with specialized funds such as Forbion is therefore essential, especially for value-creating projects. Forbion brings a forward-thinking approach to Québec that will contribute to the discovery and development of new technologies,” added Didier Leconte, Senior Investment Director, Life Sciences, at the Fonds de solidarité FTQ.
About the Fonds de solidarité FTQ
The Fonds de solidarité FTQ helps drive our economy. With net assets of $10.5 billion as of November 30, 2014, the Fonds is a development capital fund that channels the savings of Quebecers into investments in all sectors of the economy to help create and maintain jobs and further Québec’s development. The Fonds is a partner, either directly or through its network members, in more than 2,450 companies. With more than 600,000 shareholder-savers, the Fonds helps create, maintain and protect more than 172,000 jobs. For more information, visit www.FondsFTQ.com.
About Forbion Capital Partners
Forbion Capital Partners is a dedicated Life Sciences venture capital firm with offices in Naarden, The Netherlands, Munich, Germany and representation in Boston, US. Forbion invests in life sciences companies in drug discovery & development as well as medical device companies addressing substantial unmet medical needs. Forbion’s investment team of ten investment professionals has built an impressive performance track record since the late nineties with successful investments in Rhein Biotech, Crucell, Neutec, Glycart, Borean, Impella, Alantos, Acorda (ACOR), Fovea, Insmed (INSM), PanGenetics, Argenta Discovery, BioVex, Pathway Medical, CircuLite, bluebird bio (BLUE), uniQure (QURE), Argos (ARGS), arGEN-X (ARGX.BR), Santaris and PneumRx. Forbion also operates a joint venture with BioGeneration Ventures, who manages two separate seed and early stage funds focused on Benelux. Including the new fund FCF III, Forbion manages EUR 540M across 5 funds. Its investors include the EIF through its European Recovery Programme (ERP), LfA and Dutch Venture Initiative (DVI) facilities.
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