NEW YORK, Aug. 27 - German life-science VC firm Techno Venture Management has spent about half of the $296 million fund raised last November, a company official told GenomeWeb.
The cash was spent among 13 startup biotechs, said TVM spokeswoman Theresia Wermelskirchen. She added that the company, a specialist in early-stage companies, "still has room for more investments."
Munich-based TVM had said last November it planned to focus its investments in early-stage companies developing platform technologies to improve the drug-discovery process, as well as in companies developing therapeutics. Later-stage deals will be considered.
The company said it would be primarily interested in companies based in Germany, Switzerland, Austria, the UK, and the US. It has previously invested in companies such as GPC Biotech, MediGene, DeveloGen, and Evotec BioSystems.