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Nordic Life Science Venture Fund Eir Ventures Closes New Fund

Nordic Life Science Venture Fund Eir Ventures has held a first close of its new fund of EUR76 million. The fund will invest in innovative companies with products and technologies addressing significant unmet medical needs and a potential to improve the life of patients. The fund is launched with support from investors including Saminvest, the European Investment Fund (EIF), Vækstfonden, Novo Holdings, as well as additional private investors. The fund will have a particular focus on innovations from the leading universities and incubators in the Nordics and has established collaborations with select Nordic Universities.

Dr Magnus Persson, Managing Partner of Eir Ventures, commented, "In the current environment, where financing has become even more sparse and startups are struggling to fund development, healthcare innovation is more important than ever. We see great potential to bring some of the highly innovative treatments to patients with underserved medical needs, while also bringing outstanding returns to our investors."

Stephan Christgau, Managing Partner of Eir Ventures, added, "The Nordic region is ranked year after year as one of the most innovative areas in Europe, with a stable business environment and a successful track record of medical innovation and world-class science. However, the region is severely underserved with professional venture capital. Eir Ventures sees this as a unique opportunity that it will leverage."

"We are very pleased to see a new life science fund that focuses on early stage companies in the Swedish ecosystem, in close contact with the university sector. We firmly believe Eir Ventures is well positioned to take advantage of investment opportunities in the innovative life science sector in Scandinavia," commented Peder Hasslev, Chief Executive Officer at Swedish Government-owned Saminvest, an investor in the fund.

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