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FCF Fox Corporate Finance | FCF Life Sciences Life Sciences Venture Capital Monitor September 2020 Antibody Part of FCF Life Sciences Research Series Strategic Financing Advisory in Life Sciences
Agenda FCF LIFE SCIENCES O V E RV I E W
Overview
Overview Service Portfolio Facts and Figures
Focus on Biotechnology, MedTech and HealthTech Over Over
Life Sciences Life Sciences
Management Team of 100 years EUR 2bn
FCF advises innovative companies on arranging, structuring and placing Advisory in aggregated Life Sciences
Presentation 8
equity and debt transactions in a holistic financing strategy approach. Board Life Sciences transaction
Integrated based in Munich
Together with its industry advisors, FCF Life Sciences provides valuable experience volume1
Financial
support on the strategic positioning of its clients Modeling
Post- Over 4
Access to
Strategic Financing Advisory Transaction 80 Leading regularly
Support > 1000
completed Life EIB advisor published Life
international
FCF advises with its dedicated Life Sciences team on the following Investor Sciences in Europe Sciences
investors
transaction types: Screening transactions1 reports
1 including Professionals and Life Sciences Advisors
Investor / IB
Venture Capital Venture Debt Roadshow
+ +
Life Sciences Research Series
Growth Equity Due
Diligence
Support Venture Capital Monitor Public Equity Monitor
Equity & Debt is a monthly is the most detailed
Life Sciences Team Fundraising
published overview analysis of
Financing of venture capital European publicly
Strategy listed companies,
transactions of Life
Advisory
Sciences companies from the Life
Closing Sciences sectors
Arno Fuchs Dr. Mathias Sebastian Alexander Kuhn Assistance
CEO Schott Sommer Analyst
Director Associate
Term Sheet
Negotiation Venture Capital Report IPO Report
analyses the latest examines recent
IPO
Execution Venture Capital IPO trends in the
Support funding activities in Life Sciences sector,
Life
Dr. Alexandra Goll Claus Schalper Prof. Dr. Enno Spillner the Life Sciences with a strong focus
Science
Former Co-Founder & former Horst Domdey CFO Evotec
General Partner CFO Pieris Pharma Co-Founder of Medigene Advisory sector in Europe on the comparison
TVM Capital & board member BioM Board (extract from
service portfolio) and the US of European and US
characteristics
3Executive Summary
The FCF Life
FCF Life Sciences Venture Capital Monitor Recipients
Sciences Venture
Capital Monitor is a is a monthly published overview of biotechnology, pharmaceutical, The FCF Life Sciences Venture Capital Monitor targets the following
monthly published medical technology and healthcare technology companies, recipients:
overview focusing on displaying venture capital financing trends in the European life ▪ Corporates / Executives ▪ Venture capital investors
the venture capital science industry ▪ Institutional investors ▪ Family Offices / High-
financing ▪ Private equity investors net-worth individuals
environment in the ▪ Advisors
biotechnology, Scope
pharmaceutical,
medical technology The selection of companies is based on the following criteria: Availability
and healthcare
technology ▪ Focus on transactions with European headquartered life science The FCF Life Sciences Venture Capital Monitor is available on FCF’s
segments, and can companies and available deal volume website at “https://www.fcf.de/de/research/life-science-research“
be used as a quick ▪ Companies operating in the biotechnology, pharmaceutical,
reference for medical technology, healthcare technology, services or other life Data
investors, corporates science related sectors
and professionals All input data is provided by Pitchbook or GlobalData and is not
▪ The therapeutics sector is further divided into the following independently verified by FCF. Ratio and multiple calculations are
indications: Oncology, Cardiovascular, Central Nervous System, driven based on the input data available. For additional information
Gastrointestinal, Hematological, Infectious Diseases, and disclaimer, please refer to the last page
More advanced, Immunology, Metabolic, Ophthalmology, Rare Diseases,
detailed and / or Respiratory, Diversified and Others
customized reports
are available upon
request To recommend colleagues or fellow investors to be added to the If you have questions, comments or ideas, please do not hesitate
mailing list, kindly send an email with the respective contact to contact us
information
4Agenda V E N T U R E C AP I TAL T R AN S AC T I O N S SEPTEMBER 2020
European Venture Capital Transactions in Life Sciences
September 2020
Deal Total
Vertical - Indication / Volume Raised
Overview (YTD) # Date Company HQ Subsector Stage Company Description Series (EURm) (EURm) Deal Synopsis
Cumulative Financing Volume (EURm)
Provider of medical services The company raised EUR 3.7 million of Series A venture funding on September 30,
8,000 Medical Services Booking
6,755 Healthcare intended to offer convenient ways 2020. The funds will be used to continue the growth of the company's operations in
7,000 1 30-09-20 HomeDoctor POL Platform / A 4 4
Services to contact a doctor without leaving Poland, building its team and capacity in order to further expand geographically and
On market
6,000 the home. build strategic partnerships aimed at scaling-up their offering and market reach.
5,000
4,000
3,000
The company raised EUR 20 million of venture funding through a combination of debt
2,000 Developer of a chitosan-based
2020 Chitosan-based Medical and equity on September 28, 2020. The funds will be used to market FDA-cleared
1,000 medical device designed to provide
2019 2 28-09-20 NeuroShield CHE MedTech Device / - 20 1 biosynthetic peripheral nerve regeneration technology designed from naturally
0 methods for the treatment of
On market occurring chitosan and expand distribution to the U.S., Europe, Australia, and Chinese
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec prostate cancer.
markets.
Financing Volume (September 2020): EUR 575m
Subsectors Indications1
Designer and manufacturer of
Healthcare Intradermic Needles and intradermic needles and infusion The company raised EUR 5 million of venture funding on September 28, 2020. The
Services 3 28-09-20 U-Needle NLD MedTech Infusion Devices / devices for vaccination, - 5 5 funds will be used to scale-up the production of Bella-mu, and to expand the
Developing immunotherapy, diabetes and company's commercial activities globally.
HealthTech
3% Immunology aesthetics.
Others
19% 29%
30%
EUR EUR
6,755m 55% Biotech / 3,720m
Pharma Operator of a medical clinic The company raised $5.5 million of Series A venture on September 28, 2020. The
23% 4%
Gastro- Sisu Aesthetic Healthcare Medical Clinic /
MedTech intestinal
5% 21% 4 28-09-20 IRL intended to provide aesthetic A 5 6 funds will be used to go into the U.S. cosmetic clinics market and standardize "facial
11% Clinic Services On market
medicine and patient care. feature" pricing for things like lips, chin, under-eye, cheeks and brow.
Infectious
Diseases Oncology
Central
Nervous
System
Operator of a biotechnology
Top Company Origins Top Investor Origins Connecta Biotech / Genetic Disorders / company committed to discovering
The company raised EUR 1.7 million of venture funding on September 26, 2020. The
5 26-09-20 ESP - 2 2 funds will be used to take its first drug through to phase II clinical trials in patients who
Therapeutics Pharma Pre-clinic and developing medications to
have fragile X syndrome (FXS).
respond to CNS needs.
Others
Others
26% 27% 28%
33%
EUR EUR
6,755m 6,755m Operator of a biotechnology
The company raised $64 million of series D venture funding on September 25, 2020.
10% company intended to offer novel
13% 11% Biotech / Immunology / The funds will be used to prepare for potential conditional approval of GB0139 for the
9% 6 25-09-20 Galecto DNK drugs for the treatment of fibrosis, D 54 147
11%
10%
Pharma Phase III treatment of Idiopathic Pulmonary Fibrosis (IPF) in the European Union and to further
13% 9% inflammation and other serious
expand and advance its clinical development pipeline.
human diseases.
Top 5 Deals Top 5 Investors The company raised GBP 688,530 of Series A venture funding on September 25,
Deal # of Deal Operator of an independent SMO
# Company HQ Volume Series # Investor HQ Deals Volume2
Site Management 2020, putting the company's pre-money valuation at GBP 4.68 million. The funds will
Panthera Healthcare (Site Management Organization)
7 25-09-20 GBR Organization / AEuropean Venture Capital Transactions in Life Sciences
September 2020
Deal Total
Vertical - Indication / Volume Raised
Overview (YTD) # Date Company HQ Subsector Stage Company Description Series (EURm) (EURm) Deal Synopsis
Cumulative Financing Volume (EURm)
Developer of swallow disorder
8,000 Swallow Disorder Motoring The company raised EUR 1 million of venture funding on September 24, 2020. The
6,755 motoring devices designed to
7,000 9 24-09-20 Swallis Medical FRA MedTech Device / - 1 1 funds will be used to develop a diagnostic collar for swallowing disorders, particularly
change the way dysphagia is
Developing in the elderly.
6,000 diagnosed and managed.
5,000
4,000
3,000
2,000
2020 Operator of a biotech company
1,000 Pipetting Robot / The company raised $980,000 of Series A venture funding on September 24, 2020,
2019 10 24-09-20 SEED Biosciences CHE MedTech intended to develop a compact AEuropean Venture Capital Transactions in Life Sciences
September 2020
Deal Total
Vertical - Indication / Volume Raised
Overview (YTD) # Date Company HQ Subsector Stage Company Description Series (EURm) (EURm) Deal Synopsis
Cumulative Financing Volume (EURm) Provider of spinal surgery
8,000 Spinal Surgery instruments intended to offer a The company raised $10 million of venture funding through a combination of debt and
6,755
7,000 17 22-09-20 Neo Medical CHE MedTech Instruments / more functional fusion in spinal - 8 13 equity on September 22, 2020. The funding raised will be used to develop and market
On market surgery, respectful of patients' single-use spinal solutions focused on improving patient outcomes.
6,000
unique spinal conditions.
5,000
4,000
3,000
2,000 Operator of mental health support
2020 Mental Health Support
1,000 Healthcare platform dedicated to removing
2019 18 22-09-20 Wellbee POL Platform / -European Venture Capital Transactions in Life Sciences
September 2020
Deal Total
Vertical - Indication / Volume Raised
Overview (YTD) # Date Company HQ Subsector Stage Company Description Series (EURm) (EURm) Deal Synopsis
Cumulative Financing Volume (EURm)
Developer of a sleep apnea The company raised GBP 7.71 million through the combination of debt and Series C
8,000 Sleep Apnea Medical
6,755 Signifier Medical medical device designed to offer venture on September 16, 2020, putting the company's pre-money valuation at GBP
7,000 25 16-09-20 GBR MedTech Device / C 9 14
Technologies treatment for snoring and sleep- 94.41 million. The funds will be used to invest further in its non-invasive solutions for
On market
6,000 disordered breathing. patients with sleep disordered breathing conditions.
5,000
4,000
3,000
2,000
2020 Developer of an online medical The company raised GBP 3 million of Series A venture funding on September 16,
1,000 Healthcare Online Medical Platform /
2019 26 16-09-20 DrDoctor GBR platform designed to help hospitals A 3 3 2020. The funds will used to hire across the business and add new functionality to
0 Services On market
work in an efficient manner. company's patient communication platform
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Financing Volume (September 2020): EUR 575m
Subsectors Indications1
The company raised EUR 54 million through the combination of warrants and Series B
Healthcare Developer of immuno-modulatory
venture funding on December 4, 2019. The funds will be used to support an ongoing
Services ImCheck Biotech / Oncology / antibodies designed for the
27 15-09-20 FRA B 54 48 trial for company's lead candidate, as well as boost development of the company's
Therapeutics Pharma Pre-clinic treatment of cancer and other
preclinical portfolio of antibody candidates in immuno-oncology, autoimmune and
HealthTech immune-related diseases.
3% Immunology infectious disease indications.
Others
19% 29%
30%
EUR EUR
6,755m 55% Biotech / 3,720m Developer of a point-of-need The company raised EUR 9 million through the combination of debt and Series B
Pharma immuno-diagnostics device and venture funding on September 15, 2020, putting the company's pre-money valuation at
23% 4%
Gastro- Diagnostics /
MedTech intestinal
5% 21% 28 15-09-20 Antelope Dx BEL MedTech platform intended to test for the B 9 14 EUR 16.09 million. The funds will be used to initiate clinical development of the urine-
11% Developing
presence of the common sexually based self-test for sexually transmitted diseases Chlamydia trachomatis (CT) and
Infectious
Diseases Oncology transmitted diseases. Neisseria gonorrhea (NG) towards an IVD product.
Central
Nervous
System
Producer of high-grade medicinal
cannabis oil and isolates intended
Top Company Origins Top Investor Origins Biotech / Medical Canabis / to be a prominent name in the The company raised GBP 3.52 million of angel funding on September 15, 2020,
29 15-09-20 AVIDA Global GBR - 4 4
Pharma On market production of high-grade cannabis putting the company's pre-money valuation at GBP 8.94 million.
oil and isolates for the medical,
Others
Others nutraceutical, and cosmetic market.
26% 27% 28%
33%
EUR EUR
6,755m 6,755m Developer of pharmaceutical drugs The company raised CHF 2.54 million of venture funding on September 15, 2020,
10%
13% 11% Biotech / Central Nervous System / using small bio-molecules created putting the pre-money valuation at CHF 41.33 million. The funds will be used to
9% 30 15-09-20 Novaremed CHE - 2 22
11%
13% 10%
Pharma Phase II for the treatment of neuropathic prepare for the initiation of a phase 2b clinical study in the US of its novel drug
9%
pain. candidate for the treatment of PDPN (Painful Diabetic Peripheral Neuropathy).
Top 5 Deals Top 5 Investors
Deal # of Deal Developer of a distraction therapy
# Company HQ Volume Series # Investor HQ Deals Volume2 Rescape VR / designed to offer immersive The company raised GBP 488,450 of equity crowdfunding via on September 15, 2020,
31 15-09-20 GBR MedTech -European Venture Capital Transactions in Life Sciences
September 2020
Deal Total
Vertical - Indication / Volume Raised
Overview (YTD) # Date Company HQ Subsector Stage Company Description Series (EURm) (EURm) Deal Synopsis
Cumulative Financing Volume (EURm)
8,000 Ultrasound-based Medical Developer of ultrasound-based The company joined an accelerator program on September 14, 2020 and received
6,755
7,000 33 14-09-20 CarThera FRA MedTech Devices / medical devices designed to treat - 12 22 $14.3 million in funding in the form of grant and equity. The funds will be used by the
On market brain disorders. company to keep it apace in its developments and to get to market quickly.
6,000
5,000
4,000
3,000
2,000
2020 Monitoring and Developer of a real-time locating
1,000 The company raised EUR 3 million of venture on September 11, 2020. The funds will
2019 34 11-09-20 9Solutions FIN HealthTech Communication System / technology designed to monitor - 3 6
0 be used for international growth and scaling of the company.
On market patients.
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Financing Volume (September 2020): EUR 575m
Subsectors Indications1
Healthcare Developer of a personal digestive
Personal Digestive The company raised EUR 1.2 million of venture funding on September 11, 2020. The
Services tracker designed to help people
35 11-09-20 FoodMarble IRL MedTech Tracker / - 1 1 funds will be used to hike R&D spending and expand the company's footprint in the US
with digestive health problems and
On market and Canada markets
HealthTech
Immunology
improve their quality of life.
3%
Others
19% 29%
30%
EUR EUR
6,755m 55% Biotech / 3,720m
Pharma Developer of animal-free cell
23% 4% The company raised EUR 1.2 million of venture funding on September 11, 2020,
Gastro- Biotech / Cell Culture Supplements / culture solutions intended to bridge
MedTech intestinal
5% 21% 36 11-09-20 PL BioScience DEU - 1 1 putting the company's pre-money valuation at an estimated EUR 2.44 million. The
11% Pharma On market the gap between research and
funds will be used for the further development of the technology.
Infectious clinical applications.
Diseases Oncology
Central
Nervous
System
The company raised GBP 23 million of Series A venture funding on September 10,
Developer of therapeutic medicines 2020. The funds will be used to advance its pipeline of proprietary, first-in-class, small
Top Company Origins Top Investor Origins Biotech / Oncology / designed to harness gene activating RNA therapeutics, to explore the technology's potential in its other chosen
37 10-09-20 MiNA Therapeutics GBR A 26 79
Pharma Phase II activation mechanisms through areas, metabolic diseases of the liver and rare disease and to support the continued
small activating RNA. clinical development of its lead candidate, MTL-CEBPA, as a combination treatment in
Others
Others cancer.
26% 27% 28%
33%
EUR EUR
6,755m 6,755m Provider of tailored bioinformatic
The company raised EUR 1 million of venture funding on September 9, 2020. The
10% Tailored Bioinformatic funds will be used to further accelerate the development of the company, namely to set
13% 11% Healthcare services developed for analyzing
9% 38 09-09-20 Hedera-22 BEL Services / - 1 1 up laboratories at Sart-Tilman, acquire cutting-edge equipment and consolidate the
11%
10%
Services biological data assisted by
13% 9% On market team to accelerate the discovery and commercialization of new biomolecules with
computers.
pharma and agro applications.
Top 5 Deals Top 5 Investors
Deal # of Deal
# Company HQ Volume Series # Investor HQ Deals Volume2
Provider of virtual reality systems The company raised EUR 10 million of venture funding on September 8, 2020. The
Virtual Reality Systems /
39 08-09-20 OnComfort BEL MedTech designed to help ease patients' A 10 12 funding will be used to develop the company's innovative digital therapy solutions and
On market
1 2Eyes Vision 600 B 1 Bpifrance 25 76 stress during treatment. accelerate its international expansion.
2 CureVac 560 G 2 Venture Kick 23 3
3 LumiraDx 278 C Mercia Asset
3 13 8
Management The company raised EUR 7.4 million of Series C venture on September 8, 2020. The
Arvelle Developer of novel subunit
4 205 A High-Tech Biotech / CMO / funds will be used support the future development of its proprietary and patent
Therapeutics 4 11 15 40 08-09-20 Algenex ESP vaccines designed to manufacture C 7 16
Gründerfonds Pharma On market protected technology, including the European approval of the first veterinary vaccine
Oxford recombinant proteins.
produced using this technology, currently anticipated in H1 2021.
5 Nanopore 186 - 5 Novo Holdings 11 79
Technologies
Source: PitchBook as of 09.10.2020; FCF Equity Research; GlobalData
Note: All volumes in EURm; financing rounds without deal values are excluded 10
1Only includes biotechnology and pharmaceutical deals; 2 Proportional attribution of deal values to investors participating in a transaction (transaction volume / # investors by financing round)European Venture Capital Transactions in Life Sciences
September 2020
Deal Total
Vertical - Indication / Volume Raised
Overview (YTD) # Date Company HQ Subsector Stage Company Description Series (EURm) (EURm) Deal Synopsis
Cumulative Financing Volume (EURm) Developer of a skin cancer
The company raised GBP 4 million of Series A2 venture funding on September 8,
8,000 Skin Cancer Screening screening platform designed to
6,755 2020, putting the company's pre-money valuation at GBP 6.92 million. The funding
7,000 41 08-09-20 Skin Analytics GBR HealthTech Platform / reduce the burden of the 2 4 12
raised will be used to expand the company's foothold in the United States after the
On market dermatologists by enhancing their
6,000 FDA awarded "Breakthrough Device Designation" to the device and technology.
capability to screen for skin lesions.
5,000
4,000
3,000
2,000
2020 Developer of smart football shin
1,000 HUMANOX Smart Shin Guards /
2019 42 08-09-20 ESP MedTech guards built to know the health data - 2 2 The company raised an undisclosed amount of venture funding on September 8, 2020.
0 SOCCER On market
of child while playing soccer.
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Financing Volume (September 2020): EUR 575m
Subsectors Indications1
Healthcare Developer of a manufacturing
Services Manufacturing Platform / The company raised GBP 23 million of Series A venture on September 7, 2020,
43 07-09-20 Ori Biotech GBR MedTech platform designed to help patients A 26 34
On market putting the company's pre-money valuation at GBP 24.57 million.
access to lifesaving treatments.
HealthTech
3% Immunology
Others
19% 29%
30%
EUR EUR
6,755m 55% Biotech / 3,720m
Pharma Provider of health monitoring
23% 4% Health Monitoring
Gastro- platform intended to keep track of The company joined an acceleration program on September 4, 2020 and received
MedTech intestinal
5% 21% 44 04-09-20 Troglo GBR HealthTech Platform / -European Venture Capital Transactions in Life Sciences
September 2020
Deal Total
Vertical - Indication / Volume Raised
Overview (YTD) # Date Company HQ Subsector Stage Company Description Series (EURm) (EURm) Deal Synopsis
Cumulative Financing Volume (EURm) Developer of pressure-controlled
8,000 Pressure-controlled medical devices designed to The company raised EUR 24 million of Series E venture on September 2, 2020. The
6,755
7,000 49 02-09-20 Miracor Medical BEL MedTech Cardiac Device / improve the clinical outcome of E 24 81 funds will be used to advance the clinical study program which will recruit and
On market patients with impaired cardiac randomize up to 750 patients in three studies in Europe and the USA.
6,000
function.
5,000
4,000
3,000
Operator of a pharmaceutical
2,000 The company raised CHF 18.8 million of Series B venture on September 1, 2020,
2020 platform intended to focus on
1,000 Biotech / Infectious Diseases / putting the pre-money valuation at CHF 19.33 million. The funding will be used by the
2019 50 01-09-20 BioVersys CHE research and development of small B 17 35
0 Pharma Pre-clinic company to advance its two lead assets of infectious disease candidates into first in
molecules acting on novel bacterial
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec human clinical trials.
targets.
Financing Volume (September 2020): EUR 575m
Subsectors Indications1
Healthcare Genito Urinary System
Services Developer of a medical device
51 01-09-20 Breathe ilo AUT MedTech and Sex Hormones / - 5 6 The company raised GBP 4.4 million of venture funding on September 1, 2020.
intended to track ovulation cycles.
On market
HealthTech
3% Immunology
Others
19% 29%
30%
EUR EUR
6,755m 55% Biotech / 3,720m
Pharma Producer of food supplements
23% 4%
Gastro- Biotech / Nutrition / intended to create formulas
MedTech intestinal
5% 21% 52 01-09-20 Nutri & Co FRA - 4 4 The company raised EUR 4 million of venture on September 1, 2020.
11% Pharma On market specially adapted to the limits of
Infectious the modern diet.
Diseases Oncology
Central
Nervous
System
The company raised CHF 2 million of angel funding on September 1, 2020. The
Top Company Origins Top Investor Origins Healthcare Database Developer of a healthcare database
company intends to use the funds to further strengthen its market position in the U.S.
53 01-09-20 Lyfegen CHE HealthTech Platform / platform created to accelerate - 2 3
as well as additional European and Latin America in the areas of oncology, rare
On market value-based healthcare.
diseases and medical devices.
Others
Others
26% 27% 28%
33%
EUR EUR
6,755m 6,755m
10% Operator of a telehealth company
13% 11% Healthcare Socialcare / The company raised EUR 1 million of venture on September 1, 2020, putting the
9% 54 01-09-20 Hope Care PRT intended to offer socialcare and - 1 1
11%
10%
Services On market company's pre-money valuation at EUR 4 million.
13% 9% healthcare services.
Top 5 Deals Top 5 Investors
Deal # of Deal
# Company HQ Volume Series # Investor HQ Deals Volume2
1 2Eyes Vision 600 B 1 Bpifrance 25 76
2 CureVac 560 G 2 Venture Kick 23 3
3 LumiraDx 278 C Mercia Asset
3 13 8
Management
Arvelle
4 205 A High-Tech
Therapeutics 4 11 15
Gründerfonds
Oxford
5 Nanopore 186 - 5 Novo Holdings 11 79
Technologies
Source: PitchBook as of 09.10.2020; FCF Equity Research; GlobalData
Note: All volumes in EURm; financing rounds without deal values are excluded 12
1Only includes biotechnology and pharmaceutical deals; 2 Proportional attribution of deal values to investors participating in a transaction (transaction volume / # investors by financing round)Contact Details & Disclaimer
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