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Advent Venture Partners Start Life Science Fund with $118M

By a GenomeWeb staff reporter

NEW YORK (GenomeWeb News) – London-based venture capital firm Advent Venture Partners today announced the final close of a £75 million ($118 million) life science VC fund.

The fund, called Advent Life Sciences, is the company's first that focuses on the life sciences and will invest mostly in early- and mid-stage companies in the UK, Europe, and the US. Advent Life Sciences will provide funding to companies with a first- or best-in-class approach in a variety of sectors, including diagnostics, medical technology, new drug discovery, and enabling technologies, it said in a statement.

Participants in the round include the UK Future Technologies Fund, managed by the European Investment Fund. Among the companies that Advent Venture Partners has invested in or helped found are molecular diagnostics firm Biocartis, Avila Therapeutics, and Cellnovo.

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