Partners SGR launches its first Venture Capital Fund dedicated to European Medtech startups.
Milan, Italy - February 15th, 2015
At the end of 2015, Panakès Partners SGR SpA has obtained the required authorization by the competent authorities and has launched its first Fund, Panakès FundI. Investors in the Fund comprise a unique blend of major Italian and International investors: corporate and private investors in the sector (Menarini, Cogliati – Elemaster, Colombo – SapioLife, Rovati - RottaPharmBiotech) as well as leading financial institutions such as European Investment Fund and Fondo Italiano d’Investimento. Panakès I is the first Italian EU Venture Capital Fund (EUVECA). After its second closing in January, Panakèstargets a new closing in March.
The Venture firm will finance highly innovative companies in the Medtech sector, innovating in particular in therapeutic medical devices, diagnostic devices and kits and healthcare IT companies. Panakès will focus primarily on startup and commercial stage companies, with extremely promising products and great ambition, providing capital towards clinical demonstration and revenues growth. Panakès focuses on companies addressing unmet clinical needs, with strong intellectual property, at prototype level (or even CE marked products) run by experienced management teams.
"Panakès is focused on funding companies with innovation that can be quantified in terms of both improvements in patient outcomes as well as healthcare economics. Italy and Europe represent the best ground for these opportunities, that can deliver also excellent financial returns," commented Panakès Managing Partner, FabrizioLandi. "We are excited to launch our fund, and appreciate the support of all our institutional and corporate investors for our strategy and team." Pier Luigi Gilibert, Chief Executive EIF, stated: “Medtech is an area where innovation can deliver real results and we are proud to be investing in the research and development of new devices for this sector, where Europe has a strong competitive advantage compared to other geographies. The EU has a role to play in supporting this growing market and our commitment in Panakès is an example of how together we can invest in companies which will target healthcare solutions. We are confident that the team at Panakès and its focused strategy, will create new opportunities in the Medtech arena.”
"I am particularly satisfied with the result of fund raising reached by Panakés Fund , whose idea was born in the offices of the Italian Fund" said Gabriele Cappellini , CEO of the Fondo Italiano degli Investimenti SGR . "The investment in Panakés Fund by FII" continued Cappellini ,"is part of our strategy to support the creation of a sustainable venture capital market, through the subscription of funds managed by independent teams with sector-specific expertise and high professionalism. In light of this and the experience of its founders we trust that Panakés can be an operator of reference for the support to the best start-ups operating in the medtech sector".
Panakès partners was founded by Alessio Beverina, Fabrizio Landi and Diana Saraceni in 2015. The investment team combines a high level of successful venture capital experience, appropriate scientific andmedical competence and significant operational and investment experience in the Medical Technologies sector. Alessio Beverina was Partner at Sofinnova Partners, one of the leading Venture Capital in the Life Sciences sector; Fabrizio Landi was the founder and CEO of Esaote, which became a leader in the diagnostic space; Diana Saraceniwas founder and Partner in charge of the Life Sciences investments at 360 Capital Partners, the leading Italian Venture Capital firm.
The Panakès team also comprises a very complementary and internationally recognized Advisory Board, with successful Italian entrepreneurs and experts in the Life Sciences area: Laura Iris Ferro, founder and ex CEO of Gentium, Giuseppe Prisco, former MP of Intuitive surgical, Lorenzo Tallarigo, former COO Eli Lilly, and early stage Investor and board member of Intercept, Emanuele Gatti, former CEO EMEA Fresenius Care, Gabriele Cogliati, CEO of Elemaster, Antonello Biscini, VP business development of Menarini Diagnostics and Maurizio Colombo, CEO of SapioLife.
Panakès derives from the greek Panakeia, who was the goddess of Universal remedy, said to have a potion with which she healed the sick.