Diamond Biofund (TWSE:6901) announced today the signing of a Memorandum of Understanding (MoU) with French biotech venture fund – AdBio Partners (www.adbio.partners). Both parties announced the establishment of a cross-border investment cooperation to facilitate flagship investments in the biotech and medical sectors.

AdBio Partners (formerly Advent France Biotechnology) was established in Paris in 2016 as an independent spin-off from Advent Life Sciences, a leading UK biotech VC firm operating since 1982. Since its inception, AdBio Partners has successfully raised two funds in 2017 and 2021, primarily investing in early-stage European biotech startups with significant market potential. AdBio Partners has forged long-term and close collaborations with leading European academic and research institutions and their respective Tech Transfert Offices including a strategic alliance with Inserm Transfert in France. These partnerships underscore the firm’s commitment to fostering cutting-edge biotechnological advancements.

AdBio Partners, less than a decade since its founding, has also successfully exited some of its portfolio through M&A. Its investments, GAMUT Cell Therapeutics, focused on developing gene therapies for rod-cone dystrophies such as retinitis pigmentosa, and SynHelix, specializing in DNA synthesis technology, were acquired by SparingVision and Univercells in 2021 and 2022, respectively.

Through this MoU, both parties will evaluate investment and build-up opportunities, creating a bridge for biotech industry investments between Europe and Taiwan.

Mr. William Lu, Chairman of Diamond BioFund, stated that Europe, as the world’s second-largest healthcare market with annual medical expenditures totaling approximately €1.5 trillion and accounting for nearly 20% of the global healthcare market, is a crucial regional market for Taiwan’s biotech industry to enhance innovation, channels, and investment cooperation. Diamond BioFund plans to establish a collaborative investment mechanism through this strategic alliance with AdBio Partners, jointly assisting both parties’ investment portfolios in operational deployment in Europe and Asia. This collaboration aims to bring Taiwan’s innovative technologies and products to Europe and connect European technologies and companies with the Asian market.

Alain Huriez, MD, Chairman and Managing Partner of AdBio Partners added that Taiwan is a fast growing and highly promising ecosystem in innovative biotechnologies, and that this MoU with one of the leading investors there is definitely a first step for much closer collaborations with European biotechnology companies.

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About Diamond Biofund

Diamond Biofund Inc. (referred to as Diamond Biofund) is the first Taiwan Stock Exchange (TWSE)-listed evergreen biotech venture capital firm in Taiwan. With its mission to “Nurture Innovation for Better Quality of Life,” the firm specializes in biotechnology and medical investments. Diamond Biofund’s focus extends to globally competitive prospects, including new drug R&D, high-end medical equipment, innovative medical services and channels, and agricultural biotechnology. In addition to financial investment, Diamond Biofund provides invaluable support to portfolio companies in diverse areas, such as corporate governance, R&D, clinical implementation, business development, and capital market integration, all aimed at driving portfolio growth and delivering investment returns to shareholders.

About AdBio Partners

AdBio Partners, formerly Advent France Biotechnology, is a leading venture capital firm investing in early-stage life sciences companies across Europe. AdBio Partners supports startups by harnessing innovations from academic research and leveraging a robust network of research institutions and partners. With strong relationships with leading research institutions and technology transfer offices, AdBio Partners acts as a catalyst for company creation and growth. The firm is led by Dr. Alain Huriez, Chairman and Managing Partner, and Geoffroy de Ribains, Managing Partner. The operational team comprises seasoned investment professionals with extensive experience in entrepreneurial ventures, combined with strong scientific, medical, and operational expertise. This unique blend of skills and experience enables AdBio Partners to provide comprehensive support to its portfolio companies, fostering innovation and driving success.