The European Life Sciences Coalition (ELSC) was announced on Apr. 16, bringing together major venture capital firms such as Sofinnova Partners, Forbion, and Novo Holdings in association with Belgium-based Invest Europe. The coalition aims to address persistent obstacles facing Europe's biotechnology and life sciences sectors, particularly the difficulty of securing early-stage venture funding across borders.
The launch of ELSC comes amid concerns that Europe is struggling to scale up its scientific innovation despite strong research and entrepreneurial talent. According to a press release, ELSC members collectively manage more than €24 billion ($28.6 billion) in life sciences assets and have invested in or cofounded over 1,400 companies. The coalition seeks to improve access to growth capital by tackling fragmented markets, regulatory hurdles, and underused private savings.
Naveed Siddiqi, senior partner for Venture Investments at Novo Holdings, said Europe has dynamic local hubs like Paris, Lyon, Zurich, Basel, Barcelona and the U.K.'s "Golden Triangle" of London-Oxford-Cambridge that are active in producing therapies. He said the main challenge is integrating these features into a broader ecosystem: “Denmark’s stellar teaching hospitals are not as integrated into the environment as they are in the U.K., while Barcelona doesn’t have the anchor of a major pharma.” Edoardo Negroni, co-founder and managing partner at AurorA-TT agreed on the strength of regional clusters but noted that integration at research level may not always be desirable due to differing national priorities.
Siddiqi also highlighted regulatory issues such as varying national tax laws and lack of unified clinical trial authorization across Europe as barriers for pan-European investment. Both he and Negroni pointed out that proposed frameworks like the European Commission’s “28th regime” could help harmonize regulations for startups operating across member states.
Funding remains an issue compared with markets like the United States; fund sizes for early European investments typically range from $70-150 million—about half those seen stateside—and there is less participation from private pension or insurance funds. Still, recent developments signal optimism: Jeito Capital closed its second fund above €1 billion ($1.2 billion), described by Siddiqi as something “impossible” twenty years ago but now a positive sign for scaling companies.
Negroni mentioned opportunities through initiatives like Argobio—a French fund supported by five investors—and Angelini Ventures’ partnership with the European Investment Bank targeting new start-ups. Both Siddiqi and Negroni called for larger funds with wider reach alongside better connections between early- and late-stage investors so capital can be deployed wherever opportunities arise.
