Mérieux Equity Partners and Korys announce the launch of OMX Europe Venture Fund, dedicated to Venture investment within the healthcare and nutrition sectors.
OMX Europe Venture Fund FPCI (“OMX Europe”) was launched with a significant financial commitment representing more than two thirds of the target size of the fund (EUR 90 million) with the support of Korys and Mérieux Développement as sponsors and the contribution of new third party subscribers. The fund will benefit from the solid expertise and network of its sponsors and will be operated by a dedicated team covering direct investments in Venture Capital.
OMX [ō-miks] refers to a field of study in biology ending in -omics, such as genomics, proteomics, metabolomics or microbiomics. The promise of precision medicine and a biology-led industrial revolution hinge on the ability to reduce the complex interconnections of large, multi-omic data sets into useful products, services and information to enable a more personalized healthcare and nutrition.
The crisis caused by COVID-19 has raised significant public and government awareness around the importance of biology, for a better understanding of infectious diseases but also for providing adequate solutions in the field of prevention, diagnostic and therapeutic intervention. The OMX Europe investment fund focuses on entrepreneurs and life science companies driving breakthroughs in this field at international level, ultimately contributing to a better and cost-effective healthcare while also addressing global challenges.
A number of investments have already been completed by the fund:
- Mimetas is a leader in the rapidly growing “organ-on-a-chip” market. Using its OrganoPlate® technology, Mimetas develops and commercializes 3D cell culture models, including tools that facilitate the discovery and development of new therapies;
- MRM Technologies is a company specialized in research & development and dedicated to the microbiome. Its affiliated company ProDigest is a CRO specialized in intestinal microbiome analysis, servicing international clients in the Food & Pharma industry. Its affiliate MRM Health develops innovative therapeutics for the treatment of immune andmetabolic diseases;
- Inscripta commercializes a revolutionary genome editing platform, Onyx™, offering new methods of genome engineering for cutting-edge applications in fundamental research and in various industries;
- TARA Biosystems offers in vitro cardiac models for the pharmaceutical industry – using induced Pluripotent Stem Cells (iPSCs) – that are more predictive in terms of efficacy and toxicity and help accelerate the development of new therapies.
OMX Europe will be managed by Mérieux Equity Partners in Europe, with the operational support of Korys’ Life Science team as a key advisor to the fund. Mérieux Equity Partners currently employs four FTEs dedicated to venture investment and plans to expand its team over the coming months. To add additional geographic and sector expertise a strategic partnership was recently established with a team of senior business executives who have co-invested on several venture deals in the United States with Mérieux Equity Partners over the last ten years. The US-based OMX Ventures investment team, composed of Craig Asher, Nick Haft and Dan Fero, with the support of Paul Conley, operating as Senior Advisor to the fund, will bring an outstanding track record and deep experience in the life science sector.
The American OMX Ventures team have established OMX Ventures Fund I (“OMX US”) in the US to support innovative companies, with a similar investment strategy to that of the OMX Europe fund and a privileged right of co-investment with OMX Europe. Targeting at least USD 100 million, OMX US has recently completed an initial closing and secured over two thirds of the funding for OMX Ventures Fund I.
“We are honored to welcome Korys as a sponsor and key advisor to the fund. Together with Mérieux Développement’s sponsorship, privileged access to the experience and industrial network of Korys will bring real additional value to our portfolio of fast growing companies”, said Valérie Calenda, Partner at Mérieux Equity Partners.
“Our collaboration with Mérieux Equity Partners is based on an entrepreneurial history spanning several generations, common values and the shared ambition to dedicate significant, long-term resources within the healthcare and nutrition sectors. We look forward to a successful partnership”, said Christoph Waer from Korys.
“Thanks to significant support from Mérieux Développement, Korys and the contribution of our business partners in North America, we are increasing our investment capacity in the life science sector, at a time when understanding and mastering biology is more important than ever,” added François Valencony, President of Mérieux Equity Partners.
About Mérieux Equity Partners – www.merieux-partners.com
Mérieux Equity Partners is a management company registered with the Autorité des Marchés Financiers (AMF) since June 2018 that is dedicated to growth equity and venture capital investments. Mérieux Equity Partners currently operates with an international team of 20 employees and regional partners – based in Europe and North America. With over EUR 650 million under management, Mérieux Equity Partners actively supports entrepreneurs and industrial companies whose products and services bring differentiated and innovative solutions in the healthcare and nutrition sectors by providing privileged access to its expertise and the industrial, scientific and commercial network of Institut Mérieux, in compliance with the current regulations.
About Korys – www.korys.be
Korys is the investment company of the Colruyt family. Today, it has more than EUR 4.5 billion of assets under management. Besides holding a significant participation in the Colruyt Group, a leading retail company in Belgium and France, it actively manages participations in privately held companies and in private equity funds. Korys has also set up proprietary funds to manage its portfolio of listed investments. Across its activities, Korys’ investment decisions are taken with a long-term perspective and on basis of strict economic (Profit), social (People) and ecological (Planet) criteria. Korys aims to create sustainable value in three major ecosystems: Life Sciences, Energy Transition and Conscious Consumer. To do this, Korys can count on a motivated team of 30 professionals based in Belgium and Luxembourg.