By Gwendolyn Wu
Published October 6, 2026
In a significant display of resilience for the European life sciences ecosystem, the Netherlands-based venture capital firm Forbion has successfully closed a massive 2.3 billion euro ($2.6 billion) fundraising drive. The capital, secured across two distinct investment vehicles—Forbion Growth Opportunities IV and Forbion Ventures Fund VIII—represents the firm’s largest fundraising achievement to date.
This influx of capital arrives at a precarious moment for the European biotech industry, which has faced a mounting struggle to keep pace with the hyper-competitive landscapes of the United States and China. As Forbion cements its position as one of the most prolific backers of medical innovation, the industry is looking to this “dry powder” as a critical bridge for startups caught in a global capital crunch.
The Anatomy of the Fundraise: Main Facts
Forbion, widely regarded as the premier venture fund in Europe exclusively dedicated to life sciences, confirmed the final close of its dual-fund structure on Tuesday. According to the firm’s official statement, the new funds are designed to provide both early-stage support and growth-stage scaling for as many as 30 nascent biotechnology companies.
The fundraising process significantly outperformed the firm’s initial targets for the year, signaling strong confidence from institutional investors despite broader market volatility. Among the high-profile institutions anchoring these new funds are Dutch pension managers MN and PGGM, the Kauffman Foundation, Germany’s state-backed KfW Capital, and the pharmaceutical titan Eli Lilly. With this latest injection of capital, Forbion has now pushed its total assets under management (AUM) to a staggering 7.5 billion euros.
Forbion’s investment strategy remains dual-pronged:
- Forbion Ventures Fund VIII: Focused on seed and early-stage innovation.
- Forbion Growth Opportunities IV: Targeted at scaling companies that have demonstrated clinical proof-of-concept.
The firm has already begun deploying capital from these new reservoirs, with recent high-profile investments in companies such as Sling Therapeutics and Solstice Oncology, both of which are operating at the cutting edge of therapeutic development.
A Legacy of Growth: Chronology and Track Record
To understand the significance of this raise, one must look at Forbion’s trajectory over the past decade. Since its inception, the firm has acted as a primary engine for European drug development, supporting 142 companies and facilitating the journey of 21 medical products from the laboratory to the commercial market.
The firm’s recent history is characterized by a high velocity of successful exits. In 2024, Forbion raised $2.2 billion, providing the momentum required to shepherd a portfolio of companies toward lucrative acquisitions and public listings. Notable milestones in the firm’s recent portfolio include:
- Capstan Therapeutics: Acquired by AbbVie to bolster its in vivo cell therapy capabilities.
- Mariana Oncology: Acquired by Novartis as part of a broader push into the red-hot radiopharmaceutical sector.
- Aiolos Bio: Purchased by GSK in a deal centered on novel asthma treatments.
- MapLight Therapeutics: Successfully executed an IPO, navigating a complex macroeconomic climate to bring its schizophrenia pipeline to the public markets.
According to data tracked by BioPharma Dive, Forbion has publicly announced at least 55 individual investments since the beginning of 2022. This volume confirms that, even during the "capital winter" that has chilled the broader venture market, Forbion has remained consistently active, identifying and nurturing high-potential assets before they become targets for Big Pharma.
The "Capital Gap": Supporting Data and Economic Context
The euphoria surrounding Forbion’s success is tempered by the sobering reality of the European biotech market. While Forbion is thriving, the sector at large is struggling with a systemic shortage of liquidity.
Data from the last three years shows a clear divergence between the U.S. and European markets. While the U.S. continues to dominate in terms of venture dollar concentration and the velocity of clinical trial initiations, Europe has seen a steady decline in its share of global pharmaceutical research and development.
The decline is not merely a product of market cycles but of structural policy issues. A recent survey of the investment landscape indicates that European startups are finding it increasingly difficult to secure Series C and D funding, forcing many to move their clinical operations—and eventually their headquarters—to the United States to access deeper capital pools.
Furthermore, the rise of China as a dominant force in biotech, fueled by aggressive government subsidies and a streamlined regulatory pathway for domestic innovators, has left European leaders feeling vulnerable. The result is a "leaking pipeline," where European-born scientific discoveries are increasingly commercialized abroad.
Voices from the Boardroom: Official Responses
The urgency surrounding this situation was underscored just last month when nine prominent board chairs from leading European biotech firms penned an open letter calling for radical policy reform. Their message was a stinging indictment of the current political environment.
"Europe has treated medicine as a cost to suppress rather than one of the best investments a government can make," the executives argued. They warned that unless the European Union shifts its perspective on healthcare spending and drug development incentives, the continent risks a "hollowing out" of its scientific base.
Sander Slootweg, co-founder and managing partner of Forbion, acknowledged the gravity of the situation in his statement regarding the new funds. "Our successful fundraising gives us significant dry powder in a market characterized by a general shortage of capital," Slootweg said. While his tone was optimistic regarding the firm’s capacity, the underlying implication is clear: private firms like Forbion are currently bearing the burden that many feel should be a broader public-private mandate.
Implications: Can One Fund Save an Ecosystem?
The injection of 2.3 billion euros into the European ecosystem carries profound implications for the future of the region’s biotech sector.
1. Retention of Talent and Intellectual Property
By providing a clear path to funding through the "Growth Opportunities" fund, Forbion is effectively helping to keep successful startups on European soil. Previously, companies reaching the clinical stage often had no choice but to seek acquisition by U.S.-based entities to secure the capital needed for late-stage trials. With more domestic capital, firms like Forbion can lead the later rounds, allowing companies to stay independent for longer.
2. A Call to Action for Policymakers
The success of Forbion’s fundraising serves as a barometer of investor appetite. It demonstrates that the capital is available, provided the investment thesis is sound. This puts pressure on European governments to address the regulatory hurdles cited by the nine board chairs. If private firms can raise billions, the argument that "there is no money" is invalidated; the real challenge, according to industry observers, is the lack of a pro-innovation regulatory framework that makes Europe as attractive as the U.S. market.
3. The Future of Therapeutic Innovation
Forbion’s focus on the next generation of therapies—ranging from cell and gene therapies to sophisticated radiopharmaceuticals—ensures that Europe remains a player in the "next big thing" in medicine. However, the firm is only one player. For the European biotech sector to truly rebound, this infusion must act as a catalyst for a broader cultural shift—one that moves away from austerity and toward an aggressive, long-term investment strategy in human health.
As the "alarm bells" continue to ring, as the nine executives put it, Forbion’s new funds provide a much-needed firewall against further decline. Whether this $2.6 billion will be enough to turn the tide of the entire European biotech industry remains to be seen, but it is undoubtedly the most significant defensive move the sector has seen in years. The coming months will be crucial as these funds begin to flow into the R&D pipelines that will define the medicine of the 2030s.
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