Droia Oncology Ventures raises second fund of EUR 150 million
December 10th 2018: Droia, a specialist investor focused on oncology therapeutics, announced the closing of Droia II, its second fund, at EUR 150 million. Droia II will invest worldwide in early stage drug development companies and in the creation of new companies that apply novel science and innovative approaches to bring the most promising cancer therapies to patients.
Droia’s first fund, Droia I, is now fully allocated to a portfolio of biotech companies in the EU and US, and has already realised its first exits, such as the recent sale of UK-based Tusk Therapeutics to Roche or the IPO of US-based Arcus Biosciences. Droia II was raised to further build on Droia’s proven investment model, which leverages Droia’s in-house oncology expert team to guide and assist portfolio companies in a rapidly evolving landscape. Droia II is supported by the investors of Droia I, who are joined by a series of new institutional and private investors.
Janwillem Naesens, Managing Partner of Droia, comments: “The evolution of our investments in Droia I clearly demonstrates the merits of our investment model. As a testament to this success, Droia II was heavily oversubscribed and closed at more than twice the size of our first fund. This larger fund allows us to expand our investment and in-house expert team, to provide an even wider range of services for our portfolio companies.”
Luc Verelst, Founder of Droia, comments: “We are very grateful for the continued support of our first fund investors, which allowed us to jumpstart the fundraising for the second fund and to complete it in a record time. We also want to welcome our new investors, who have shown great enthusiasm for Droia’s project. We are looking forward to put the new fund to work, help patients and bring value for our investors.”
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For further information, please contact:
Droia Oncology Ventures, www.droiagroup.com
Janwillem Naesens, Managing Partner
+32 2 880 67 30
info@droiagroup.com