Advent Venture Partners completes first financing round for pharma investment

Advent Venture Partners, a London-based venture capital firm, has invested €15m in Speciality European Pharma in the first substantial financing round.

Speciality European Pharma, a European pharmaceuticals company, has completed a €15 million financing round provided by Advent Venture Partners, a London-based venture capital firm.

There had previously been a seed financing round, but this is the first substantial financing round.

With some of the €15 million, Speciality European Pharma has bought Swiss company Proreo Pharma International and all global rights to Plenaxis from Praecis Pharmaceuticals, a US company.

Speciality European Pharma was founded in 2006 by Advent Venture Partners.

Established in 1981, Advent Venture Partners has more than £500 million (€757 million) under management and has invested in around 60 life science companies. Other recent life science investments include Norwegian radiopharmaceuticals company Algeta and US speciality pharma company CardioKine.