Advent France Biotechnology becomes AdBio partners
Paris, France, December 7, 2021 – Advent France Biotechnology (AFB), an AMF-regulated (the French financial market authority) investment company dedicated to life sciences, today announces it is changing its company name to AdBio partners. The name change embodies AdBio partners’ strong will and determination to add value to the European biotech industry and to build its most promising start-ups.
Created five years ago with the desire to apply in France the know-how and investment methodology of its UK-based partner Advent Life Sciences; Advent France Biotechnology now continues, as AdBio partners, to extend its geographical expansion beyond France and into the ongoing enhancement of the funds’ international position as an entrepreneur-investor working to add value in biotechnology.
With this name the company enters a new chapter in its history, following the recent first close of its second fund at €86M ($102M) in September 2021. This fund will be used to create, develop and finance promising European life sciences start-ups, with the goal of selecting and financing two before the end of 2021. This second fund is larger than the first seed fund launched in 2017, which closed at €68M. AdBio partners will build on the successful investment strategy of its first fund, which resulted in the creation and/or funding of 15 start-ups. Investments predominantly focus on European countries, especially France (11 investments), and Belgium, Spain and Ireland (four investments).
This strategic name shift represents a major opportunity for the company to consolidate its international partnerships with life sciences researchers, entrepreneurs and academics alike. AdBio partners’ unique investment strategy enables the early identification of promising therapeutic innovations in Europe and the launch of start-ups in different therapeutic areas such as oncology, immunology and rare diseases.
“We firmly believe that our new name, AdBio partners, will further elevate our international positioning as entrepreneur-investors adding value in biotech while referring to our roots at Advent. Following the recent first closing of our second fund at €86M, we are well equipped to invest in and build the most promising biotech companies in Europe. The European scientific ecosystem is innovative and rich with high-profile scientists; we aim to leverage its endless potential for breakthrough innovations,” said Alain Huriez, MD, Matthieu Coutet and Geoffroy de Ribains, partners at AdBio partners.
The AdBio partners team has grown to include ten investment professionals whose mission is to work closely with selected scientific founders, leading European research institutions and their technology transfer offices, together with European venture capital partners, to select and back entrepreneurs and early-stage companies with the potential to deliver first- or best-in-class therapeutics.
There is a critical need to further develop early-stage funding in Europe to match the scale of investment in the US.
About AdBio partners
AdBio partners (previously Advent France Biotechnology) is an AMF-regulated (the French financial market authority) company that invests in a range of sectors within the life sciences – specifically in therapeutics-oriented projects. AdBio partners’ unique strategy combines early-stage investments in promising enterprises and strong entrepreneurial support to strengthen the company’s growth.
Created in 2016 in Paris, France, AdBio partners has a strong entrepreneurial spirit; from the inception of its first fund in 2017, it now maintains 17 European investments in France, Belgium, Spain and Ireland.
AdBio partners has developed strong relationships within the European innovation ecosystem; as a result, it has attracted international VC syndicates to its portfolio companies.
The operational team is managed by Alain Huriez and Matthieu Coutet and has appointed a number of investment professionals with long-standing track records in entrepreneurial ventures, combined with strong scientific and medical expertise.