AseBio brings together top specialized venture capital managers to drive biotech sector
Seven venture capital managers that specialize in the life sciences set up new workgroup as a key instrument for recovery
The Spanish Bioindustry Association (AseBio) has created a new workgroup made up of the top venture capital funds that specialize in the life sciences in order to drive the biotech sector for the country’s recovery after the covid-19 healthcare crisis. The members of the group include Alta Life Sciences, Asabys Partners, Caixa Capital Risc, CRB inverbio, Inveready, Invivo Capital Partners, Sociedad de desarrollo de Navarra (SODENA) and Ysios Capital Partners. “Spanish venture capital funds are helping turn our science into products that make people healthier. Not only because we invest in these projects, but also because we attract foreign funds to invest in the companies,” highlighted Clara Campàs, CEO and co-founder of Asabys Partners.
The new workgroup has four main goals. The first is to position venture capital as a key way to fund the creation, development and growth of innovative biotech companies. Plus, it aims to draw investment, both private and public, to specialized venture capital based on its social and economic impact. This group will also encourage and promote instruments to support venture capital, like INNVIERTE and FondICO Global. “Those of us who have invested and invest in transferring biotech R&D from our country to global markets need to stick by those promoting knowledge and new companies in the sector in order to fully understand their projects and help them with the transition from science and academia to industry and business,” believes Enrique Castellón, founding partner of CRB inverbio.
With this group, AseBio wants to encourage technology transfer, entrepreneurship and new biotechnology projects, identifying bottlenecks that impede biotech companies’ access to funding and promoting instruments to resolve these issues. Furthermore, another of this group’s goals is to help attract talent to cover gaps in the ecosystem in terms of entrepreneurs, managers or people with operations experience. “At AseBio, we firmly believe that specialized venture capital is a key tool for funding the creation, development and growth of innovative biotech companies. That’s why we’ve kicked off this new workgroup that aims to reinforce the position of specialized venture capital as a key instrument for driving our sector and, this way, facilitate biotech companies’ access to the funding they need to have an impact,” declared AseBio CEO Ion Arocena.
A day-to-day commitment to biotech that is only growing
As the 2019 AseBio Report shows, the amount paid out and committed by venture capitalists in Spanish biotechnology companies once again rose in 2019. These organizations committed over €74 million throughout 2019 (up 342% from 2018), to be paid out in the future.