Spain leads in fundraising ahead of France and Germany, according to EIT Health, a European consortium that supports the health sciences sector. Of the 19 emerging companies that have received support from EIT Health and have attracted external investment of at least $1.17 million (€1 million) in the third quarter of 2020, six are Spanish.
If you want to find the latest economic news in the world and to read more about the amount raised by biotech companies in the third quarter, download for free the Born2Invest mobile app, available for both iOS and Android. Don’t lose your time scrolling the internet, when you can rely on the best online news aggregator, Born2Invest.
Spanish health startups have captured more than a third of the funding achieved by emerging companies in Europe
EIT Health is a consortium of more than 140 companies, universities and research centers from fourteen European countries with the aim of becoming an initiative committed to innovation in health. Quibim, Apta Targets, Arthex Biotech, Admit Therapeutics, Genomcore and Methinks have raised a total of $29 million (€24.8 million).
Spanish startups have attracted more than a third of the total funding achieved by the 19 innovative companies in the health sector supported by the European consortium. Spain becomes the country that has collected a greater amount and with a greater number of startups ahead of France and Germany in the third quarter.
How much did biotech companies from other countries raised in the third quarter
The French companies Gleamer, inHeart, VitaDX and SideRos have raised a total of $17.7 million (€15.2 million) in the period between July and September. For its part, the German company Tubulis has been the main source of income for all the companies, having earned $12.5 million (€10.7 million).
However, it is the only German startup supported by EIT Health which has raised more than $1.17 million (€1 million) in the third quarter. After Germany and with only one operation, there are Switzerland and Ireland. The Alpine company Hemotune AG has raised $5.54 million (€4.75 million), while the Irish company Venari has raised $5.25 million (€4.5 million). The German startup Tubulis has had the highest turnover in the third quarter, after raising $12.5 million (€10.7 million).
For its part, the Swedish companies Developeration AB and OnDosis have raised $3.44 million (€2.95 million) and $3.35 million (€2.87 million), respectively. These companies are followed by the Polish company UVera and the Dutch company Plasmacure, which have each raised $2.9 million (€2.5 million) each. In last place are the Italian company Restorative Neurotechnologies and the Belgian company DEO, which have raised $1.17 million (€1 million) each.
The general manager of VP Venture Partners, Valentin Piëch, explained that “investment activity has improved considerably since the summer and financing rounds are being closed again.” Kurt Höller, Director of Business Creation at EIT Health, said that “it is encouraging to see the results of the third quarter still with the pandemic.”
DISCLAIMER: This article was written by a third party contributor and does not reflect the opinion of Born2Invest, its management, staff or its associates. Please review our disclaimer for more information.
This article may include forward-looking statements. These forward-looking statements generally are identified by the words “believe,” “project,” “estimate,” “become,” “plan,” “will,” and similar expressions. These forward-looking statements involve known and unknown risks as well as uncertainties, including those discussed in the following cautionary statements and elsewhere in this article and on this site. Although the Company may believe that its expectations are based on reasonable assumptions, the actual results that the Company may achieve may differ materially from any forward-looking statements, which reflect the opinions of the management of the Company only as of the date hereof. Additionally, please make sure to read these important disclosures.
First published in PlantaDoce, a third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.
Although we made reasonable efforts to provide accurate translations, some parts may be incorrect. Born2Invest assumes no responsibility for errors, omissions or ambiguities in the translations provided on this website. Any person or entity relying on translated content does so at their own risk. Born2Invest is not responsible for losses caused by such reliance on the accuracy or reliability of translated information. If you wish to report an error or inaccuracy in the translation, we encourage you to contact us.
Is having a financial contingency plan a smart business move?
One of the significant decisions to be taken when starting a business with risk is taking risks itself. A decision...
Prime Mining reports high grades in Los Reyes project in Mexico
Prime Mining Corp company has recently announced that it has mobilized the first two drill rigs at its site in...
Four trends transforming the world of venture capital
What lies ahead for conventional venture capital companies in the world of cryptocurrencies is not clear right now. Yet, it...
How are ESG company news deciphered with Artificial Intelligence
Thanks to the incredible progress in artificial intelligence (AI) observed in recent years, and more specifically in natural language processing...
Five easy ways to start an online business from home
Affiliate marketing is one of the most preferred methods of monetization of a blog. Blogging is one of the most...
Business7 days ago
Why small caps and value stocks appear to be now outperforming
Biotech5 days ago
Novartis invests $1.35 billion into a drug also designed for COVID-19
Featured6 days ago
77% of the companies in the Confidi network have started fintech projects
Featured7 days ago
Market update for Late November 2020