European Union and Angelini Industries Launch €150M Healthcare Startup Fund

The European Union has partnered with Italian conglomerate Angelini Industries to establish a significant funding initiative aimed at bolstering healthcare startups across Europe. This collaboration marks a strategic move to enhance the continent's position in healthcare innovation and technology.

€150 Million Investment to Foster European Health Innovation

The European Investment Bank (EIB), the EU's investment arm, and Angelini Industries have committed to a joint investment of €150 million ($174.3 million) over the next six years. This fund will target biotech, medtech, and digital health companies, with each partner contributing €75 million to the initiative.

The partnership aims to support between seven and ten startups, with investments being made through Angelini's venture capital division, Angelini Ventures. This move aligns with the EIB's broader TechEU project, which plans to invest €70 billion between 2025 and 2027 to support European innovation.

Addressing the European Startup Investment Gap

This initiative comes in response to Europe's lagging position in startup investment compared to the United States and Asia. In 2024, while U.S. companies secured €210 billion ($244 billion) across 15,000 fundraising rounds, European startups only managed to raise €57 billion ($66.25 billion) through 9,600 rounds.

EIB Vice President Gelsomina Vigliotti emphasized the importance of this partnership, stating, "Initiatives like this strengthen Europe's ability to lead technological innovation and generate tangible benefits for people, patients and businesses."

Angelini Industries' Growing Venture Capital Presence

Angelini Industries, which launched its venture division in 2022, has already invested €125 million in 22 startups. The company's portfolio includes Angelini Pharma, which recently licensed a preclinical neuro antisense oligonucleotide from South Korean biotech Sovargen in a $550 million deal.

Sergio Marullo di Condojanni, CEO of Angelini Industries, expressed enthusiasm about the partnership: "This important agreement with the EIB enables us to bring our group's commitment to innovation through venture capital to a European strategic context."

The first beneficiary of this new fund has already been identified. The partners plan to co-invest in French antibody specialist Adcytherix's series B round, with Angelini having already participated in the company's recently closed series A funding.