About Forbion
Forbion is a venture capital firm founded in 2000. It is primarily based out of Naarden, Netherlands. As of Jun 2025, Forbion is an active investor, having invested in 115 companies, with 12 new investments in the last 12 months. It primarily invests in Series B round in United States based startups. Its investments are spread across a wide range of sectors from Life Sciences to High Tech and Food and Agriculture Tech. Most recently it led the $146M Series B round of Azafaros along with Schroders Capital. This round also saw participation from Pictet Group and other investors.
Overall, Forbion portfolio has seen 15 IPOs and 34 acquisitions including key companies like argenx, Acorda and Replimune. A lot of funds co-invest with Forbion, with names like BioGeneration Ventures sharing a substantial percentage of its portfolio.
Forbion has team of 54 people including 23 partners.
Key Metrics
Team Members
Portfolio Sectors
Portfolio Locations
Rounds of Entry
Series A, Series B & 6 more
Portfolio IPOs
Portfolio Acquisitions
Portfolio Soonicorns
Deals in last 12 months
Forbion's List of Top Investments
Forbion has a portfolio of 115 companies. Their most notable investments are in Pangenetics and Beacon Therapeutics.Their portfolio spans across United States, United Kingdom, Netherlands and 13 more locations. They have invested in Life Sciences, High Tech, Food and Agriculture Tech and 5 other sectors, across stages such as Series A, Series B and 6 more. Here is the list of top investments by Forbion:1. argenx
Developer of antibody-based drugs to treat autoimmune diseases and cancer. The pipeline includes Oncology-ARGX-110, ARGX-111, ARGX-115, Autoimmunity ARGX-113, and ARGX-110. The proprietary technologies to identify the variable region from the llama's and introduces mutations in the constant region of the antibody for enhanced circulation in the system (NHance) and clearance post-therapy. The company has also developed a non-fucosylated antibody, which enhances antibody-dependent cytotoxicity.
Key facts about argenx
- Founded Year: 2008
- Location: Ghent (Belgium)
- Annual Revenue: €1.34B as on Dec 31, 2022
- Stage: Public
- Total Funding till date: $61.9M
- Employee Count: 355 as on Dec 31, 2022
- Investors: BB Biotech, Avoro Capital Advisors and 20 Others
- Latest Funding Round: Post IPO, Mar 24, 2022, $700M
- Highlight: Public
2. Acorda
Acorda Therapeutics is a commercial-stage biopharmaceutical company engaged in the identification, development and commercialization of therapies that improve neurological function in people with multiple sclerosis (MS), spinal cord injury (SCI) and other disorders of the nervous system. The first product for which the Company completed clinical development, Ampyra (dalfampridine) Extended Release Tablets (Ampyra), was approved by FDA in January 2010, as a treatment to improve walking in patients with MS. Ampyra is an extended-release tablet formulation of dalfampridine (4-aminopyridine (4-AP)), which was previously referred to as fampridine. Acorda's marketed product, Zanaflex Capsules, is approved by the FDA as a short-acting drug for the management of spasticity.
Key facts about Acorda
- Founded Year: 1995
- Location: Ardsley (United States)
- Annual Revenue: $119M as on Dec 31, 2022
- Stage: Acquired
- Total Funding till date: $66.5M
- Employee Count: 109 as on Dec 31, 2022
- Investors: Ridgeback Capital Management, Vermögensclub and 14 Others
- Latest Funding Round: Post IPO, Oct 2006, $31.5M
- Highlight: Acquired
3. Replimune
Developer of oncolytic immunotherapies. It is developing its pipeline intended to improve both the direct anti-tumor effects of selective virus replication and the potency of the immune response to the tumor antigens released. It is currently developing its programs and is planning to progress them rapidly through clinical trials and to combine these with checkpoint blockade at an early stage of clinical development.
Key facts about Replimune
- Founded Year: 2015
- Location: Oxford (United Kingdom)
- Stage: Public
- Total Funding till date: $87M
- Employee Count: 152 as on Mar 31, 2021
- Investors: Foresite Capital, Omega Funds and 7 Others
- Latest Funding Round: Series B, Sep 07, 2017, $55M
- Highlight: Public
Developer of T-cell therapies for cancer. Its therapeutics will target tumor neo-antigens, unique flags to the immune system present on the surface of every cancer cell. They develop therapeutics for lung cancer, recurrent metastatic melanoma, and head and neck squamous cell carcinomas.
Key facts about Achilles Therapeutics
- Founded Year: 2016
- Location: London (United Kingdom)
- Stage: Public
- Total Funding till date: $242M
- Employee Count: 118 as on Dec 31, 2020
- Investors: HTIF, Orbimed and 41 Others
- Latest Funding Round: Grant (prize money), Jul 21, 2022, $4.08M
- Highlight: Public
5. Insmed
Developer of small molecule inhibitors for rare lung diseases. Its lead candidate is Arikayce (liposomal amikacin for inhalation), a ribosomal 30S subunit inhibitor for nontuberculous mycobacteria (NTM) lung disease. It also has an earlier-stage clinical pipeline which includes INS1009, a nebulized prodrug formulation of treprostinil that claims to have potential in rare pulmonary disorders such as pulmonary arterial hypertension (PAH), idiopathic pulmonary fibrosis (IPF) sarcoidosis, and severe refractory asthma.
Key facts about Insmed
- Founded Year: 1999
- Location: Bridgewater (United States)
- Annual Revenue: $5M - $25M
- Stage: Public
- Employee Count: 912 as on Dec 31, 2023
- Investors: Ridgeback Capital Management, Hercules Capital and 10 Others
- Latest Funding Round: Post IPO, Jan 2018, $450M
- Highlight: Public
Forbion's Year-on-Year Investment Trends
Forbion has invested in 115 companies over the last 24 years, with an average of 6 new investments annually in the last 10 years. In 2024, it made 21 investments, while as of Jun 2025, it has made 8 investments in this year. Its most recent first time investment was in Mosanna Therapeutics and most recent follow-on round was in Azafaros.
Year | No. of Investments | ||
---|---|---|---|
1st Round | Follow-on | Total | |
2025 (YTD) | 4 | 4 | 8 |
2024 | 14 | 7 | 21 |
2023 | 9 | 2 | 11 |
2022 | 5 | 2 | 7 |
2021 | 10 | 3 | 13 |
2020 | 5 | 4 | 9 |
2019 | 2 | 2 | 4 |
2018 | 6 | 1 | 7 |
2017 | 4 | 3 | 7 |
2016 | 1 | 2 | 3 |
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Forbion's Investments by Stage
Forbion has made 35 investments in Series A stage with an average round size of $63.5M, 32 investments in Series B stage with an average round size of $64.5M and 12 investments in Series C stage with an average round size of $43.1M.Note: We have considered here, only first round of investments
Stage of entry | No. of Investments |
---|---|
Series A | 35 |
Series B | 32 |
Series C | 12 |
Seed | 6 |
Post IPO | 3 |
Others | 4 |
Forbion's Investments by Sector
Forbion has a diverse portfolio, with companies operating in the Life Sciences, High Tech, Sustainability Tech, Healthcare and Consumer. Notably, it has invested in 101 Tech companies, 82 Enterprise (B2B) companies, 8 Tech hardware companies and at least 4 companies focusing on Social impact.
Note: We have considered here, only first round of investments
Sector | No. of Investments |
---|---|
Life Sciences | 81 |
High Tech | 13 |
Sustainability Tech | 11 |
Healthcare | 10 |
Consumer | 2 |
Others | 6 |
Forbion's Investments by Geography
Forbion has made most investments in United States (28), followed by United Kingdom where it has made 20 investments.
Note: We have considered here, only first round of investments
Country | No. of Investments |
---|---|
United States | 28 |
United Kingdom | 20 |
Netherlands | 9 |
Germany | 7 |
Switzerland | 7 |
Others | 22 |
Forbion's recent investments
Here are the most recent investments by Forbion:
Date | Company | Location | Round Details | Round Amount | Co-Investors |
---|---|---|---|---|---|
Jun 09, 2025 | Switzerland | Series A | $80M | EQT [+6] | |
May 13, 2025 | Netherlands | Series B | $146M | Jeito [+4] | |
Apr 29, 2025 | Germany | Series A | €18M | Henkel Ventures [+4] | |
Apr 24, 2025 | Switzerland | Series B | $70M | ||
Apr 01, 2025 | United States | Series B | $155M | Venrock [+4] |
IPOs and Publicly Listed companies in Forbion's Portfolio
Here are Forbion's portfolio companies that went public:
Company | IPO Date | First Invested on | First Round of Investment | Round Size |
---|---|---|---|---|
Nov 01, 2023 | Jan 26, 2015 | Series B | $10.9M | |
Mar 31, 2021 | Sep 02, 2019 | Series B | $121M | |
Feb 08, 2021 | Jan 14, 2021 | Series A | $196M | |
Sep 17, 2020 | Apr 03, 2019 | Post IPO | $50M | |
May 23, 2019 | May 28, 2024 | Post IPO | $555M |
Acquired companies in Forbion's Portfolio
Here are Forbion's portfolio companies that got acquired most recently:
Company | Acquisition Date | First Invested on | First Round of Investment | Round Size |
---|---|---|---|---|
Feb 21, 2025 | Mar 12, 2010 | Series B | $37.5M | |
Jan 02, 2025 | Mar 01, 2021 | Series B | $37M | |
May 15, 2024 | - | - | - | |
May 02, 2024 | Sep 07, 2023 | Series B | $175M | |
Jan 09, 2024 | Oct 24, 2023 | Series A | $245M |
Team profile of Forbion
Forbion has a team of 54 members including 23 Partners, 6 Venture Partners and 2 Principals located in Netherlands, Germany and 5 more locations. Forbion's team sits on the board of 2 companies.Here is a list of top team members in Forbion:
Name | Designation | Location | Board Memberships | Contact details |
---|---|---|---|---|
Partner | Munich | - | ||
Partner | Amsterdam | - | ||
Partner | Almere | - | ||
Partner | Naarden | - | ||
Partner | Naarden | |||
Partner | Amsterdam | - | ||
Partner | Heemstede | |||
Partner | Amsterdam | - | ||
Partner | Cologne | - | ||
Partner | Amsterdam | - | ||
Partner | Netherlands | - |
Co-investors of Forbion
Over the past 24 years, 506 investors have co-invested in Forbion's portfolio companies.
- Invested before Forbion: Novartis Venture Fund, Syncona and 189 others have invested in rounds before Forbion. There are 6 companies where Novartis Venture Fund has invested before Forbion and 5 companies where Syncona has invested before Forbion.
- Top Co-investors of Forbion: 169 investors entered a company along with Forbion. These include investors like BioGeneration Ventures (6 companies).
- Invested after Forbion: A total of 146 investors have invested in Forbion's portfolio after their investments. Top Investors include European Union (4 companies), Orbimed (3 companies) and Ysios Capital (3 companies).
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Recent News related to Forbion
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EQT Leads Investment in Mosanna for Nasal Spray Therapy to Treat Sleep ApneaEuropaWire•Jun 10, 2025•EQT, Mosanna Therapeutics, Pivotal Life Sciences, Forbion
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CellCentric lands $120M to power clinical trials of oral cancer drug inobrodibTech Funding News•May 20, 2025•CellCentric, RA Capital Management, Forbion, Avego and 1 other
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Azafaros Secures €132M Series B FundingSilicon Canals•May 14, 2025•Azafaros, Jeito, Forbion, Seroba Lifesciences and 3 others
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Azafaros Raises €132M in Series B FundingFinSMEs•May 13, 2025•Forbion, Jeito, Seroba Lifesciences, Pictet Group and 2 others
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German Textile Startup Eeden Secures €18 Million in Series A FundingExtrajournal.Net•May 09, 2025•eeden, Forbion, Hogan Lovells, NRW.Bank and 4 others
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Airna, RNA editing biotechnology company, raises $155 million in fundingJinglingshuju•Apr 02, 2025•AIRNA, Venrock, Forbion
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AIRNA secures $155m to bring RNA-candidate to clinicPharmaceutical Technology•Apr 02, 2025•AIRNA, Venrock, Forbion
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