From drug discovery platforms to novel cancer treatments, techbio startups are working to revolutionise healthcare for patients — and the industry in Europe raised around $5.7bn in 2022 to do so, according to Dealroom.
Though that’s $300m less than it raised in 2021, the funding has potential to bounce back: in Q2 of 2023 the sector drummed up $1.8bn across Europe, the highest quarterly total since Q1 of last year.
Certain investors have been particularly active in pouring cash into techbio despite the downturn, contributing to the sector’s gradual resurgence.
Here are the most active investors in the techbio space since January 2022 by deal count in Europe, according to Dealroom.
Most active European techbio investors
1. EIC
HQ: Brussels
Fund focus: European startups, sector agnostic
Number of investments into European techbio startups since January 2022: 39
The European Innovation Council invests equity funding of between €500k-15m in European startups from seed to Series B. Recent techbio investments include Germany’s Cellbox Solutions, which produces live cells for therapy research, and cancer treatment developer Palobiofarma, based in Spain.
2. Bpifrance
HQ: Paris
Fund focus: French startups, sector agnostic
European techbio investments: 19
Backed by the French government, Bpifrance has invested in techbio startups like Exeliom Biosciences, which is building microbiome-based drug candidates and raised an €8m Series A extension this month, and liver disease treatment developer Alentis Therapeutics, which closed a $105m Series C in April 2023.
3. Sofinnova Partners
HQ: Paris
Fund focus: Life sciences, healthtech and sustainability across Europe
European techbio investments: 13
Sofinnova Partners focuses on Series A rounds. It’s invested in gene therapy startup AAVantgarde Bio’s €61m round in June 2023, neurodegenerative therapy company BioCorteX’s $5m seed round in March 2023 and cancer immunotherapy developer Mablink Bioscience’s €31m Series A in October last year.
4. SOSV
HQ: Princeton, US
Fund focus: Deeptech startups across the world with a focus on pre-seed and seed stage
European techbio investments: 11
Early-stage investor SOSV invests largely in the US and China but also chips in to rounds across Europe, with a focus on the UK. It recently backed Pear Bio, which predicts the success of cancer treatments, and the seed round of biomanufacturing platform Unicorn Biotechnologies.
=5. High-Tech Gründerfonds (HTG)
HQ: Bonn
Fund focus: Seed-stage digital tech, life sciences and industrial tech startups across Europe, with a focus on Germany
European techbio investments: 9
HTG has recently backed cell therapy for transplant patients TolerogenixX, which raised €7m in Series A funding, autoimmune disease treatment developer Dualyx’s €40m Series A and neurology-focused treatment startup FundaMental’s €10m seed round.
=5. CDTI
HQ: Madrid
Fund focus: Spanish startups, sector agnostic with a lean towards health and SaaS
European techbio investments: 9
CDTI, a governmental entity in Spain responsible for the country’s innovation and tech startups, has pitched into the 2023 rounds of drug developer Nuage Therapeutics, cancer therapy startup Libera Bio and sepsis diagnosis company Deepull.
=5. Forbion
HQ: Naarden, the Netherlands
Fund focus: Life science and techbio companies across Europe and the US
European techbio investments: 9
Recent techbio investments include disease treatment startup Complement Therapeutics, VectivBio, which is focused on treatments for rare conditions, and immunotherapy developer Catalym.
=5. BioGeneration Ventures
HQ: Naarden, the Netherlands
Fund focus: Life science and techbio startups in the Netherlands and Europe
European techbio investments: 9
Recent techbio investments include: hemestasis and thrombosis therapeutics startup Varmx and gene cancer therapy Scenic Biotech.
=5. Jeito Capital
HQ: Paris
Fund focus: Healthtech and techbio across Europe
European techbio investments: 9
Recent techbio investments include Alentis Therapeutics and Pulmocide, which makes inhaled medicine for respiratory infections.
10. Pureos Bioventures
HQ: Zurich
Fund focus: Drug discovery startups across Europe
European techbio investments: 8
Recent techbio investments include radiotherapy drug discovery startup Ariceum Therapeutics and antibody drug developer Araris Biotech.
