We are a VC fund focused on investing in early-stage companies in the healthcare sector.
Invivo Ventures is managed by Invivo Capital Partners, promoted by Luis Pareras and Albert Ferrer, with the experience gained through the first fund Healthequity. The fund was registered to the Comisión Nacional del Mercado de Valores (CNMV) in March 2019 and has achieved a final closing of 60M €.
We are a team of highly qualified professionals, with the scientific, technical and financial know-how required to analyse and make investments to provide value to the invested company. We also have a network of contacts and key strategic relationships in the health ecosystem.
Our company is financed by the European Investment Fund, the Instituto de Crédito Oficial, the Institut Català de Finances, the Institut Valencià de Finances, the Ajuntament de Barcelona and other private investors.
Two successful exits from our first fund in 2022, validating our early-stage investment thesis focused on extraordinary science in leading-edge fields that are to play a role in the future of medicine.
Our portfolio companies from the first fund have raised >220M€ from international VCs.
Our knowledge of the Technology Transfer space plus our ability to identify new market trends and create biotech companies opens the opportunity to become one of the major players in Technology Transfer in Europe.
We seek projects according to the following criteria:
We set initial investments in the range of 0.5-2M €, and after achieving pre-established milestones we can reach up to 4M €.
State of development
We focus on investing in companies in early stages, mainly in the technology transfer phase. In the case of biotechnology companies, they should have a solid proof of concept in animal models, and in the case of medical devices or digital health companies, a prototype close to the market.
We invest in Spain a significant amount of the funds raised, while a smaller percentage is considered for investments syndicated with other funds in European companies.
We want to diversify risks by investing in companies in different stages within the biomedical area, specifically in biotechnology.
Healthequity is a VC fund focused on investing in early-stage companies in the Healthcare sector. Promoted by the Medical Association of Barcelona and the financial group Riva y Garcia, it was registered with the CNMV and founded in 2012.
The fund finished its first investment period in early 2019.
Minoryx Therapeutics is a spin-off company from Universitat de Barcelona and IDIBELL. The company is focused on the discovery and development of novel therapies for severe, orphan genetic diseases of the central nervous system (CNS). The lead candidate is a novel, selective and differentiated PPAR gamma agonist (leriglitazone), which is currently in clinical development in adrenomyeloneuropathy (AMN), in cerebral Adrenoleukodystrophy (cALD) and in Friedreich Ataxia (FDRA).
Sanifit Therapeutics is a spin-off company from the Universitat de les Illes Balears. The company is focused on treatments for progressive vascular calcification disorders. The lead candidate, SNF472, is a novel small molecule, and a selective and potent inhibitor of hydroxyapatite (HAP) crystallization, the final common pathway that leads to vascular calcification, in clinical development in End Stage Kidney Disease (ESKD) patients, calciphylaxis and peripheral artery disease (PAD).
nLife Therapeutics is a biotechnology company leading the discovery and development of oligonucleotides as therapeutic agents for those CNS disorders where unmet medical needs are not covered by traditional treatments.
Peptomyc is a company focused on the development of a new generation of Peptomyc is a spin-off company from The Vall d´Hebron Institute of Oncology (VHIO) and ICREA. The company is focused on the development of a new generation of cell penetrating peptides (CPPs) targeting the Myc oncoprotein for cancer treatment. The lead candidate, Omomyc, is a dominant-negative Myc mutant in clinical-stage that is the most efficacious and safe direct Myc inhibitor to date and that shows great therapeutic promise in a variety cancer types.
Versantis is a pharmaceutical company specialized in the development of Versantis is a spin-off company from ETH Zürich. The company develops transformative orphan drugs in liver and pediatric diseases with the goal to revolutionize the critical care of cirrhosis decompensations and neonatal hyperammonemic crises. The lead candidate, VS-01, is a proprietary first-line treatment in clinical-stage for acute liver diseases able to simultaneously support the failing liver, brain, and kidney.
GlyCardial Diagnostics is a spin-off company from the IR-Hospital de la Santa Creu i Sant Pau and the Spanish National Research Council (CSIC). The company is focused on the development of a novel in vitro diagnostic test for myocardial ischemia. The technology is based on the detection of Apo J-Glyc in blood as a biomarker for the early diagnosis of cardiac ischemia and the prediction of patient’s evolution after an ischemic event.
ARTHEx Biotech is a spin-off company from the University of Valencia, with a strong background on microRNAs involvement in neuromuscular diseases. The company is focused on the development of RNA treatments against genetic diseases. The lead candidate, ATX-01, is an antimiR-based treatment against Myotonic Dystrophy Type I.
Pulmobiotics is a spin-off company from the Centre for Genomic Regulation (CRG). Is a pre-clinical life sciences company using synthetic biology to develop a novel live biotherapeutic platform for treating human lung diseases. The platform is based on attenuated lung bacteria able to deliver therapeutic agents in the lung with different activities, i.e. antimicrobial, tissue regeneration, immune system modulation.
Gyala Therapeutics is a spin-off company founded by Hospital Clínic de Barcelona – IDIBAPS. The company is focused on developing CAR-T therapies against a novel target for hematological malignancies, such as acute myeloid leukaemia. The company leverages the experience gathered at Hospital Clínic de Barcelona in the development and authorization of CAR-T ARI-0001 against CD19.
Telum Therapeutics is a synthetic biology company that develops new treatments for MDR infections caused by Gram negative bacteria based on the use of lytic enzymes from bacteriophages, called enzybiotics. The company has developed the APEX™️ Platform: Advanced Phage-derived Enzybiotics from eXploration that allows discovery of novel enzybiotics and engineering to create chimeric lytic enzymes.
OneChain Immunotherapeutics is a spin-off company from the Josep Carreras Leukaemia Research Institute (IJC) and ICREA. The company aims to develop immunotherapies against haematological neoplasms using Gammadelta T cell therapies and generate new CAR-T candidates against different antigens. The first candidate is a CAR-CD1a for co-T-ALL. The company has the aim to develop CAR–T therapies using an allogenic platform based on a novel and efficient method for a selective generation of human cytotoxic Vδ1+ T cells.
Telomere Therapeutics is a spin-off company from Spanish National Cancer Research Center (CNIO) and Universitat Autònoma de Barcelona (UAB). Telomere is a gene therapy company developing disease modifying treatments for unmet medical needs, pioneering “telomere repair” to treat organ fibrosis and other telomere-dysfunction syndromes for which there is no curative treatment. The lead program focuses on an in vivo gene therapy based on the expression of the telomerase (TERT) gene using an AAV vector for idiopathic pulmonary fibrosis.
Degree and PhD in Medicine (UB), specialist in Neurosurgery and Global Executive MBA (IESE).
Founding Partner of two Venture Capital funds (Healthequity and Invivo Ventures) focused in early-stage investments in the healthcare sector, where he has led the investment strategy and transaction processes.
He serves or has served at the Board of Directors of many life-sciences companies including Sanifit, Minoryx, Versantis, Glycardial Diagnostics, n-Life Therapeutics, Peptomyc, Arthex, Pulmobiotics, Gyala, Telum, OneChain Immunotherapeutics, Telomere Therapeutics Corteria and Integra.
Deeply involved in the innovation ecosystem, he is a member and advisor of many healthcare innovation organizations, and author of numerous books in the field of innovation, venture capital and healthcare.
In the academic space, he teaches at several business schools about healthcare innovation and venture capital.
He founded the managing company Invivo Capital Partners together with Albert Ferrer.
Degree in Business Administration and MBA from ESADE, Master CEMS (Community of European Management Schools) in Management from HEC – Hautes Études Commerciales (París) and Chartered Financial Analyst (CFA).
He has been involved in the Spanish VC industry for the past 20 with a focus on high-growth, early stage, technology centered investments.
Member of the board of directors of different portfolio companies: Arthex, Pumobiotics, Gyala, Telum, OneChain Immunotherapeutics and Telomere Therapeutics.
He is as well currently Director of Healthequity, a venture capital fund focused in early-stage companies in the healthcare sector, where he led the investment strategy and transaction processes of the different portfolio companies. He has been a member of the Board of Directors of different life-sciences companies and of Healthequity's investments: Sanifit, Peptomyc and Glycardial Diagnostics.
Previously, he led Spinnaker Invest, VC firm within Grupo Financiero Riva y García. He has been as well a member of the Board of Directors of various companies such as Exoticca, Wecare-u and Scytl.
He founded the managing company Invivo Capital Partners together with Luis Pareras.
Bachelor of Science in Biotechnology (UAB), PhD in Biotechnology (UB) and a Postgraduate course in Innovation Management (UAB).
Her research in gene therapy applications in the cancer field have led to publications in scientific journals and collaborations with biotech companies.
She has been Project Manager in the Knowledge Transfer and Innovation Unit at the Research Institute of the Vall d'Hebron Hospital (VHIR) in Barcelona.
She collaborates with different entities of the health innovation ecosystem as a start-up mentor, jury and evaluator (COMB, EIT Health, Ship2b, Imagine IF!, FIPSE and CIMTI, among others).
Since January 2018, she worked as Investment Analyst in Healthequity, and since 2019 at Invivo Ventures, the first fund of Invivo Capital Partners.
She is Board member at OneChain Immunotherapeutics and Observer at the Board of Arthex, Pulmobiotics, Gyala, Telum and Telomere Therapeutics.
Currently she is Principal at Invivo Capital Partners.
BSc & MSc Civil and transport Engineering (UPC) and BSc Economics (UB).
He has worked in the financial and operations department of the technologic start-up Exoticca, collaborating in the fundraising of the company, and in n a financial boutique specialized in M&A from the Spanish industrial sector.
Moreover, he has consulting experience in the financial, engineering and market intelligence consulting sectors.
Since April 2019, he works as an Investment Analyst in Healthequity and Invivo Ventures, Invivo Capital Partners first fund.
Bachelor of Science in Biomedical Sciences (UB), Master of Science in Business Management applied to the Biotechnology Sector and Pharmaceutical Industry, specialized in Project Management (BBI) and Postgraduate course in Financing (UPF Barcelona School of Management).
She has been Project Manager in UPF Ventures, an innovation management firm owned by Universitat Pompeu Fabra (UPF).
She is member of the EIT Health Alumni Network, after her participation in the StarShip Program (2019) organized by EIT Health in collaboration with leading European universities (University of Oxford, IESE Business School) and industrial partners (GE Healthcare).
She usually collaborates with different entities of the health innovation ecosystem as an innovation projects and start-up evaluator (COMB, EIT Health, CIMTI, The Collider, among others),
Since May 2020, she works as an Investment Analyst at Invivo Ventures, the first fund of Invivo Capital Partners.
She has worked as Office Manager and Executive Assistant for 18 years carrying out administration tasks, client and supplier relations, agenda, conference and travel planning and management, both for the directors and the team, at the Barcelona Medical Association and Healthequity since it was founded in 2012.
Between 2009 and 2019, she managed 25 editions of the Healthcare Investment Forums and the Ready4Growth seminar.
Since June 2019, she works as an Executive Assistant, Office Manager and Social Media Manager at Invivo Ventures, the first fund of Invivo Capital Partners.
Invivo offers a 6-month part-time internship to candidates with a strong scientific background, basic knowledge of the technology transfer process, and who are eager to learn how investing in early-stages works. The position will be based in Barcelona, and all backgrounds are encouraged to apply.
SYNTHETIC BIOLOGY FUTURE DIRECTIONS / Synthetic Biology offers new ways for engineering new biological systems or re-designing existing ones for useful purposes. It is a disruptive technology at the heart of the so-called Bioeconomy, capable of delivering new solutions to global healthcare, but also in many other fields like agriculture, manufacturing, and environmental challenges. Not long ago, in May 2010, a team of scientists led by Craig Venter achieved a synthetic biology milestone by designing the genes for a new type of bacteria and implanting them in a bacterial shell that had its genome removed. The empty cell behaved like a factory programmed with human-designed genetic code. It was the first living being to escape the evolutionary tree, with a computer-programmed genome synthesized by chemical compounds, implanted in a cell, and subsequently multiplied under the control of that artificial genetic code. It opened the way to extraordinary developments in biology and medicine that are starting to blossom now. But we have a lot of work ahead. This quick_note tries to systematize the progressive steps in our quest to design “therapeutic life” #quick_notes_lp
Solving real problems requires commitment and focus. Here’s some advice for scientists willing to become entrepreneurs, six things you should think about before embarking on your journey:
(1) UNDERSTAND BIOTECH ECOSYSTEM/ Be aware of what creates and what destroys value, and understand why VCs prefer good problems to solve, big clinical needs, accelerated regulatory pathways and a big delta in what the drug will do for patients: USE IT TO IMPROVE YOUR POSITIONING
(2) UNDERSTAND YOUR COMPANY/ Ask yourself what open questions still remain unsolved in your field (they’ll lead you to clinical needs), and see the landscape of strategies to solve your particular clinical need: are you competitive enough? STAND OUT FROM THE CROWD
(3) FROM SOLOIST TO ORCHESTRA/ Find the right CEO (maybe yourself, but some other times someone else more experienced) and the right team that will make it possible… At first the team will be small but always bear in mind entrepreneurship is not an individual game
(4) CONTACT YOUR TECHNOLOGY TRANSFER OFFICE (research center, hospital…) or alternatively experts and consultants to think carefully about the whole process, the intellectual property, some initial understanding of the regulatory pathway, license negotiations to spin out, etc.
(5) FINE TUNE PoC/ Find your WOW slide, the experimental setting and results that will convince everyone that this is worth doing and that your way of solving the problem actually works… You’ll probably need to further improve it after visiting VCs, yes, but always aim for top quality experiments
(6) FUNDRAISE / Go find capital (non-dilutive from grants first, if possible), understand how VCs will analyze your project and try to capture their attention. The process iterates non-stop, go back to (1) to further understand your sector and start again to perfect your pitch
This policy reflects our approach to environmental, social, and governance management throughout our investment horizon, from initial selection and investment decision through to divestment, with the objective of generating sustainable and socially responsible value in the investees in which we invest.
We believe that major global concerns such as climate change, demographic development, technological advances, and social inequality will influence markets, companies, and society in general, and will have implications for companies in terms of risks and opportunities that need to be assessed and considered.
We also understand that acting as responsible investors is a gradual process, and we are committed to progressively incorporating ESG best practices in an effort of continuous improvement.
In this regard, this policy reflects our commitment to conducting our business in strict compliance with applicable regulations in accordance with the highest ethical standards and professional conduct. Among them, the development and management of social and governance risks of our activity are considered essential.
Consult the policy here