Birk Venture

Life science is the only field in which Birk Venture, a privately held investment company in Oslo, invests. It was founded in 2010 by an executive with a long career in pharmaceuticals and biotechnology, and its stated aim is to turn unique innovations and technologies into good businesses in health care. It offers capital to young companies with strong growth prospects and says it takes an active part in developing its early-stage investments.

Why life science

The firm's reasoning is that demand for health care keeps rising while governments and private companies pour effort into research and development, so new technologies appear quickly. Patients should gain from better treatment options, which improve quality of life and reduce mortality. Its job, as it sees it, is to find entrepreneurs and companies with unusual technology that could bring important health care products to market, and to work with them and with co-investors to realise the market potential.

An evergreen structure

Birk Venture calls itself a private evergreen investment company with a long-term, flexible approach, which means it is not bound by a fixed fund life. It can invest in early-stage life science companies and in those further along, and it wants a diversified portfolio in the sector. Before investing, it expects four things: an innovative technology addressing a clear global medical need; proof of concept or strong acceptance in the international scientific community; management and founders who form a good platform for development and commercialisation; and a sound financial plan among investors that secures medium to long-term funding. Medical devices and instruments appear among the areas it covers.

Its deal flow comes from universities, start-ups, spin-offs from private companies and from co-investors in a private investment consortium. The firm's working principles are to take the long view, to treat partnership as fundamental, and to enjoy the journey, since chemistry between people often decides how well a company does.

Portfolio history

Earlier descriptions of the portfolio show the kind of company it favours. PCI Biotech, which has since exited the portfolio, developed a patented photochemical technology that uses light to deliver drugs into diseased cells and was testing its lead candidate in cancer, including head and neck tumours, with pre-clinical work on bladder cancer. APIM Therapeutics develops cancer agents targeting DNA repair and cell cycle control through peptide compounds; Birk Venture made its first investment in 2011 and holds a board seat. Cortendo, a Swedish biopharmaceutical company, worked on inhibiting cortisol, with a drug candidate for Cushing's syndrome in preparation for a late-stage trial.

Birk Venture is a private evergreen investment company in Oslo, Norway, focused on turning new technologies into health care businesses. Hans Ivar Robinson founded it in 2010, drawing on long experience in pharmaceuticals and biotech.

What Birk Venture offers

• Life science investment: puts capital into companies in both early and more developed stages.
• Flexible approach: a long-term investment style rather than a fixed fund life.
• Co-investor partnerships: works with a private investment consortium and other outside investors.

Customers and markets

Entrepreneurs with technology that meets a clear global medical need and has reached proof of concept. It also wants strong management and a solid financing plan. Deal flow comes from universities, startups, private-sector spin-offs and co-investors.

Key facts

• Based in: Oslo, Norway
• Founded: 2010
• Focus: life science and health care