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TVM Closes 336M Euro Life Science Fund

NEW YORK, Nov. 15 – Techno Venture Management, a Munich-based venture capital firm, said Thursday that it had closed its life science fund, raising 336 million euros ($296.3 million) for investments in European and American companies.

TVM said it had originally only intended to raise 250 million euros.

“We are all very proud that we have been able to raise this fund in a challenging environment,” Helmet Schuhsler, managing partner of TVM’s life science business, said in a statement.

“We believe that life science investing will continue to be very profitable for investors who have a strong franchise in the sector, a deep understanding of the industry, patience, and a clear commitment to creating value for shareholders,” he added.

The company said 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 threrapeutics, although later-stage deals will also be considered. TVM said it would be primarily interested in companies based in Germany, Switzerland, Austria, the United Kingdom, and the US.

TVM has previously invested in companies such as GPC Biotech, MediGene, DeveloGen, and Evotec BioSystems.

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