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Forty51 closes first fund totaling 43 million US dollars

19.07.2022

A new Basel-based venture fund, Forty51 Ventures I, has raised a total of 43 million US dollars following a first fund closing. Forty51 invests in European biotech firms with clear clinical pathways. The first investment took the form of early stage financing for Mosanna Therapeutics from Basel.

Forty51 Ventures has announced the first closing of its Biotech Venture Capital Fund I and its first investment. In a press release, the company provides details in connection with a deal worth 43 million US dollars. The core strategy of the company, which was founded in Basel in April 2022, aims to support the founding of start-ups and early stage investments in the biotechnology sector, primarily in Switzerland, France and Germany.

The fund, which is based in Luxembourg, is being advised by a three-strong founding team who boast an extensive network and decades of experience in the area of drug development, transactions and venture capital. In addition, the team works with prominent figures within the industry and a strategic partner in the USA.

Investment in biotech

In addition to the closing, Forty51 has also announced its first investment. Mosanna Therapeutics, a biotech firm also recently founded in Basel, is the beneficiary of this. Forty51 led this early stage financing round. The consortium of investors also includes the London-based firm Stable Asset Management and the Fischli family. Mosanna is working on a small molecule developed by Sanofi to treat patients with metabolic obstructive sleep apnea.

“Forty51 Ventures brings true company building to Europe’s exciting Biotech scene”, comments Erik Serrano-Berntsen, CEO and founder of Stable Asset Management, in the press release. “I have not come across a truly differentiating investment strategy in biotech coupled with such a highly complementary skillset among the founding partners”, he concludes.

 

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