Fountain Healthcare Partners just closed its second fund, with €85 million – or about $127.5 million. The Irish VC firm – which has offices in New York – plans to make 10 to 15 investments in the fields of specialty pharma, biotech, medical device and diagnostics.
While about 75 percent of the funds will go to European privates, the remaining dollars will go into the U.S. market, Fountain says.
Of the potential 15 of the new fund, it’s already invested in these companies:
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–Chrono Therapeutics, a Bay Area digital smoking cessation startup
–Innocoll, an Irish maker of biodegradable surgical implants and topical adhesives to treat post-op pain and diabetic foot ulcers.
Its previous investments include:
–Civitas Therapeutics, which was acquired by Acorda Therapeutics for $525 million this past September.
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-Irish gene therapy startup Genable Technologies, which treats patients with autosomal dominant retinitis pigmentosa – a debilitating form of inherited blindness.
–Opsona Therapeutics, another Irish device startup working to treat acute ischemic stroke.
Fountain is Ireland’s largest life sciences venture capital fund, now commanding about €155 million, or $232.5 million. Fountain follows the traditional VC model: It chases products that have a defined path to commercialization and a quick exit. It’s after startups, corporate spinouts and turnaround situations, the firm said.