Asabys, the Spanish private equity manager plans to raise a new €200 million vehicle with the support of Sabadell and Alantra, current investors, to continue investing in the life sciences and healthcare innovation sector.
The fund, called Sabadell Asabys Health Innovation Investments II, already has part of that money committed from investors who participated in the first fund, which raised more than €100 million.
In fact, last July, Asabys reported to the National Securities Market Commission (Cnmv) a prospectus contemplating the launch of a new fund and whose note specifies that “total commitments will at no time exceed a total amount of €250 million.”
The document goes on to detail that the fund will invest in companies with a significant research and development (R&D) base addressing unmet medical needs and adds that “in particular, the fund’s investments will be oriented towards the early-stage human health innovation space: bio-therapeutic companies, medical device companies, health technologies, disruptive services, and digital health companies.”
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Asabys hopes to continue to invest in companies with a strong research and development base
Asabys, which counts Alantra as a strategic partner, launched the first fund four years ago with an initial target of €60 million and the support of Banco Sabadell as the main investor. Following the announcement, the fund manager saw increased demand and finally closed the vehicle with €117 million. Asabys Partners invests in healthcare companies in its three verticals: medtech, biotech, and digital therapy solutions.
In 2020 Asabys backed projects in different companies. Some of the investments are related to Medlumics, Medasense, or Splice Bio. In the case of Medasense, for example, the management company became a shareholder as part of an $18 million investment round. Medasense, founded in Tel-Aviv (Israel) in 2008 by Galit Zuckerman and with a team in Barcelona, has developed a “nociception” pain assessment and monitoring system for operating rooms and intensive care units, for use in patients under general anesthesia.
In the case of Splice Bio, Asabys Partners co-invested with Ysios Capital. This company specializes in gene therapy. The company’s technology addresses the main limitations of adeno-associated viruses (AAVs), which are the viral vectors used in this type of therapy.
In 2021, the Spanish venture capital manager invested between one and three million euros in the start-up Nuage Therapeutics, which aims to discover drugs aimed at therapeutic targets considered difficult to address until now. In 2022, Asabys invested in the biotech Agomab, dedicated to the development of innovative treatments for fibrosis. These are just some of the manager’s numerous projects.
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