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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
Portfolio Count
Portfolio Sectors
Portfolio Locations
Rounds of Entry
Series A, Series B & 6 more
Portfolio Acquisitions
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:
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
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

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
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

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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.
Here are Forbion's investments by stage:
Note: We have considered here, only first round of investments
Breakdown of Forbion's investments by stage of entry - lessoinsdecolette.comSeries A (35)Series B (32)
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.
Here are Forbion's investments by sector:
Note: We have considered here, only first round of investments
Breakdown of Forbion's investments by sectors - lessoinsdecolette.comLife Sciences (81)High Tech (13)
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.
Here are Forbion's investments by geography:
Note: We have considered here, only first round of investments
Breakdown of Forbion's investments by countries - lessoinsdecolette.comUnited States (28)United Kingdom (20)
Country
No. of Investments
United States
28
United Kingdom
20
Netherlands
9
Germany
7
Switzerland
7
Others
22

Forbion's recent investments

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Forbion has made 8 investments in 2025 so far. Mosanna Therapeutics and Azafaros are the latest among them.
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
Apr 24, 2025
Switzerland
Series B
$70M
Apr 01, 2025
United States
Series B
$155M
Venrock [+4]
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IPOs and Publicly Listed companies in Forbion's Portfolio

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15 of Forbion's portfolio companies have become public. enGene got listed on the National Association of Securities Dealers Automated Quotations (NASDAQ), in Nov 2023 and Achilles Therapeutics got listed on the National Association of Securities Dealers Automated Quotations (NASDAQ) at marketcap of $731M.
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

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34 companies from Forbion's portfolio have been acquired. The most recent acquisition were Bluebird Bio in Feb 2025 by The Carlyle Group for $29M.
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:
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Co-investors of Forbion

Over the past 24 years, 506 investors have co-invested in Forbion's portfolio companies.

  • Invested before ForbionNovartis 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 Forbion169 investors entered a company along with Forbion. These include investors like BioGeneration Ventures (6 companies).
  • Invested after ForbionA 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

Azafaros Secures €132M Series B FundingSilicon CanalsMay 14, 2025Azafaros, Jeito, Forbion, Seroba Lifesciences and 3 others
Granite Bio AG’s $100 Million Funding RoundGlobal Legal ChronicleMay 07, 2025Granite Bio, VISCHER, Sanofi Ventures, Forbion
AIRNA secures $155m to bring RNA-candidate to clinicPharmaceutical TechnologyApr 02, 2025AIRNA, Venrock, Forbion
View all news related to Forbion

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