The pharmaceutical clinical trials industry in Europe plays a crucial role in bringing new medicines to market. It includes contract research organizations (CROs), biotech firms, and pharmaceutical companies. These entities collaborate on various stages of the drug development process, from early-phase trials to late-stage studies. Recent trends indicate a growing emphasis on personalized medicine, and digital health solutions, which aim to streamline patient enrollment and enhance data collection. As innovation accelerates, Europe’s regulatory environment encourages a dynamic space for advancements, promising groundbreaking therapies for chronic and complex diseases.


This article examines 19 prominent investors active in Europe’s pharmaceutical clinical trials sector, spanning private equity firms to venture capital outfits. Notable locations range from Paris to Basel, with investment sizes varying significantly, reflecting different strategies from governments to market-savvy private entities. In 2024, these investors collectively engaged in numerous initiatives, showcasing their commitment to advancing healthcare solutions and fostering innovation across Europe.


Top 19 Pharmaceutical Clinical Trials Investors in Europe


1. Novo Holdings

  • Website: novoholdings.dk
  • Type: Venture Capital
  • Headquarters: Hellerup, Denmark
  • Founded year: 1999
  • Headcount: 51-200
  • Number of deals in 2024: 45
  • LinkedIn: novo-a-s

Novo Holdings A/S is a not-for-profit investment firm based in Hellerup, Denmark, founded in 1999. It manages the assets of the Novo Nordisk Foundation and is dedicated to investing in life science companies at various stages of development. The firm provides capital and strategic support to enhance healthcare solutions. Notably, Novo Holdings has made significant investments in companies such as Evotec, where they participated in a €90.3 million funding round, and Amolyt Pharma, which has raised substantial amounts in Series A, B, and C financing rounds. These investments reflect Novo Holdings' focus on supporting innovative companies that are likely involved in pharmaceutical clinical trials and the development of new therapeutics.


2. European Innovation Council (EIC)


The European Innovation Council (EIC) is a public entity based in Brussels, Belgium, established to support innovation and entrepreneurship across Europe. Founded in 1958, the EIC offers various funding programs, including the EIC Accelerator and EIC Pathfinder, aimed at helping startups and SMEs develop and scale their technologies. In the pharmaceutical sector, the EIC has been involved in significant transactions, such as providing grants to Faron Pharmaceuticals, which raised $2,822,011 in June 2020, and Ability Pharmaceuticals, which received $5,444,476 in grants in March 2020. Additionally, Ability Pharmaceuticals raised $7,651,452 in a venture round in March 2024, showcasing the EIC's active role in supporting pharmaceutical innovations. Through these investments, the EIC not only provides financial support but also offers business acceleration services and networking opportunities to foster innovation in healthcare and other sectors.


3. Bpifrance French Tech Accélération


Bpifrance French Tech Accélération is a venture capital investor based in Paris, Île-De-France, France, founded in 2015. As a public entity and financial institution, Bpifrance supports entrepreneurs and businesses in France and internationally through a range of services, including direct funding, export credit insurance, and private equity investments. The institution aims to foster entrepreneurship and innovation, helping businesses navigate growth and international expansion. Notably, Bpifrance has been involved in significant funding rounds for pharmaceutical companies, such as Amolyt Pharma, which raised multiple rounds of financing (Series A, B, and C) to advance its pipeline of therapeutics for rare endocrine disorders. This involvement highlights Bpifrance's commitment to supporting the pharmaceutical sector and companies engaged in clinical trials. Additionally, Bpifrance's participation in funding rounds for companies like Therachon, which is developing a novel protein therapeutic for achondroplasia, further emphasizes its relevance in the pharmaceutical clinical trials space.


4. Sofinnova Partners


Sofinnova Partners is a Paris-based venture capital firm founded in 1972, specializing in life sciences investments. The firm focuses on supporting innovative healthcare startups through funding and strategic guidance, particularly in the biopharma and medtech sectors. In recent years, Sofinnova Partners has been involved in several notable transactions in the pharmaceutical clinical trials space. For instance, they led a $138 million Series C financing round for Amolyt Pharma, which is advancing its pipeline of therapeutics for rare endocrine disorders. Additionally, they participated in multiple funding rounds for CinCor Pharma, including a Series A round that raised $50 million to advance the development of CIN-107 through proof-of-concept Phase 2 clinical trials for treatment-resistant hypertension. These transactions highlight Sofinnova Partners' active engagement in funding clinical trials and their commitment to fostering scientific advancements in the pharmaceutical industry.


5. Novartis Venture Fund

  • Website: nvfund.com
  • Type: Venture Capital
  • Headquarters: Basel, Basel, Switzerland
  • Founded year: 1996
  • Headcount: 11-50
  • Number of deals in 2024: 10

The Novartis Venture Fund, founded in 1996 and based in Basel, Switzerland, is a venture capital firm that specializes in life sciences investments. The firm focuses on providing funding and support to innovative biotechnology and biopharmaceutical companies, helping them develop novel therapeutics and address unmet patient needs. Notable transactions include a $26.6 million investment in PTC Therapeutics, which is known for its work in developing treatments for rare diseases, and a Series B financing for Kedalion Therapeutics, which involved an exclusive option for Novartis to acquire the company and its AcuStream technology after successful feasibility studies. Other significant investments include $30 million in Avila Therapeutics and $63 million in Omeros, both of which are involved in developing new therapeutic solutions. These investments highlight the fund's commitment to advancing pharmaceutical innovations and supporting clinical trials in the life sciences sector.


6. HBM Healthcare Investments AG


HBM Healthcare Investments AG is a venture capital firm based in Zug, Switzerland, founded in 2001. The firm specializes in the healthcare sector, managing a diversified portfolio that includes investments in human medicine, biotechnology, medical technology, and diagnostics. HBM Healthcare has been involved in several notable transactions, particularly with PTC Therapeutics, where they participated in multiple funding rounds aimed at supporting the late-stage clinical development of innovative therapies. For instance, they were part of a $30 million financing round in 2012 to support the development of ataluren for treating nonsense mutation Duchenne and Becker muscular dystrophy and cystic fibrosis. Their active engagement in funding rounds for companies focused on clinical trials underscores their commitment to advancing healthcare solutions.


7. Novartis

  • Website: novartis.com
  • Type: Corporate
  • Headquarters: Basel, Basel, Switzerland
  • Founded year: 1996
  • Headcount: 10001+
  • Number of deals in 2024: 7
  • LinkedIn: novartis

Novartis AG is a leading pharmaceutical company based in Basel, Switzerland, founded in 1996. The company specializes in developing and manufacturing innovative medicines aimed at addressing serious diseases across various therapeutic areas. Novartis emphasizes research and development to enhance patient outcomes globally. Notably, Novartis has made significant investments in the pharmaceutical sector, including the acquisition of AveXis for $8.7 billion, which focuses on gene therapies, and Gyroscope Therapeutics for $800 million, aimed at treating eye diseases through gene therapy. In 2024, they announced the acquisition of Calypso Biotech for $250 million, which is focused on autoimmune treatments. These transactions highlight Novartis's commitment to advancing clinical research and development in the pharmaceutical industry, making them a relevant investor in the context of pharmaceutical clinical trials.


8. European Investment Bank (EIB)


The European Investment Bank (EIB) is a public entity based in Luxembourg, founded in 1958, that provides financial services including loans, equity investments, guarantees, and advisory services to support sustainable projects across various sectors. In the pharmaceutical sector, EIB has been involved in several notable transactions, including providing a €50 million loan to BioNTech SE for research and development, market access, and manufacturing development for its advanced treatments. Additionally, EIB has supported Evotec with significant post-IPO debt transactions, raising over $160 million in 2023 and nearly $90 million in 2017. EIB also provided a €40 million loan facility to Enterome, further demonstrating its commitment to financing pharmaceutical innovation and clinical trials. These transactions highlight EIB's role in facilitating growth and development within the pharmaceutical industry.


9. Forbion

  • Website: forbion.com
  • Type: Venture Capital
  • Headquarters: Naarden, North Holland, Netherlands
  • Founded year: 2006
  • Headcount: 11-50
  • Number of deals in 2024: 23
  • LinkedIn: forbion-capital-partners

Forbion is a venture capital firm founded in 2006, located in Naarden, North Holland, Netherlands. The firm specializes in the life sciences and bioeconomy sectors, providing investment management and support to biotech companies. Forbion collaborates with entrepreneurs and academic institutions to develop innovative therapies and technologies that address unmet medical needs and improve patient outcomes. Notable transactions include their participation in Replimune Group's funding rounds, where they contributed to seed, Series A, and Series B financing aimed at advancing the company's lead product and further candidates from its Immulytic™ platform. Additionally, Forbion was involved in Gyroscope Therapeutics' Series C funding, which raised over $148 million, further demonstrating their active engagement in the pharmaceutical sector.


10. Life Sciences Partners (LSP)

  • Website: lspvc.com
  • Type: Venture Capital
  • Headquarters: Amsterdam, North Holland, Netherlands
  • Founded year: 1987
  • Headcount: 11-50
  • Number of deals in 2024: 15
  • LinkedIn: lsp-bioventures

Life Sciences Partners (LSP) is a venture capital firm based in Amsterdam, Netherlands, founded in 1987. The firm specializes in private equity investments within the healthcare sector, connecting investors with innovative healthcare companies. LSP focuses on drug development and medical technology, aiming to foster advancements that address unmet medical needs. Notably, LSP has participated in significant funding rounds for companies such as Amolyt Pharma, which raised $138 million in Series C financing to advance its pipeline of therapeutics for rare endocrine disorders, and previously raised $80 million in Series B and $74 million in Series A. Additionally, LSP has invested in argenx, which raised $43.8 million in Series B funding. These transactions highlight LSP's active role in supporting companies that are likely involved in pharmaceutical clinical trials, reinforcing their relevance in this sector.


11. Abingworth

  • Website: abingworth.com
  • Type: Venture Capital
  • Headquarters: London, England, United Kingdom (UK)
  • Founded year: 1973
  • Headcount: 11-50
  • Number of deals in 2024: 6
  • LinkedIn: abingworth

Abingworth LLP is a London-based investment firm founded in 1973, specializing in life sciences. The firm focuses on providing capital and strategic support to biopharmaceutical companies, helping them develop innovative treatments. Abingworth's clients are primarily businesses in the biotechnology sector seeking funding for clinical development. They operate through a multi-pronged investment strategy, including venture investments and clinical co-development financing. Notable transactions include their involvement with Zogenix, where they participated in multiple funding rounds, including a $15 million venture round in 2010 and a $35.96 million Series B in 2009, aimed at the commercialization of pharmaceutical products. Additionally, they invested $65 million in Pharmion in 2001, further demonstrating their commitment to supporting companies in the pharmaceutical clinical trials space.


12. Almi

  • Website: almi.se
  • Type: Venture Capital
  • Headquarters: Stockholm, Stockholm, Sweden
  • Founded year: 1994
  • Headcount: 201-500
  • Number of deals in 2024: 7
  • LinkedIn: almi-ab

Almi AB is a financial services company based in Stockholm, Sweden, founded in 1994. It provides loans, risk capital, and business development support to small and medium-sized enterprises (SMEs) in Sweden, aiming to enhance their growth and competitiveness through tailored financial solutions. Almi has been involved in several notable transactions in the pharmaceutical and biotech sectors, including investments in companies like Strike Pharma, which is developing innovative cancer treatments, and Oblique Therapeutics, which raised significant funding for its therapeutic developments. Other investments include LipUm and Pila Pharma, both of which are engaged in pharmaceutical innovations. These transactions highlight Almi's active role in supporting the pharmaceutical clinical trials industry, making them a relevant investor in this space.


13. Nextech Invest


Nextech Invest is a Zurich-based venture capital firm founded in 1998, specializing in biotechnology with a strong emphasis on cancer therapeutics. The firm invests in promising drug discovery companies and provides strategic support to help these firms navigate the complexities of drug development. Notable transactions include leading Series B and C funding rounds for Blueprint Medicines, which focuses on genomically defined product candidates, and participation in funding for Kura Oncology, which is developing therapies for cancer. Their recent investment in Relay Therapeutics, aimed at advancing a candidate towards registrational trials, highlights their active role in supporting companies that are likely to engage in clinical trials. Overall, Nextech Invest is dedicated to fostering innovation in the biotechnology sector, particularly in areas that intersect with pharmaceutical clinical trials.


14. Agoranov

  • Website: agoranov.com
  • Type: Corporate
  • Headquarters: Paris, Île-De-France, France
  • Founded year: 2000
  • Headcount: 11-50
  • Number of deals in 2024: 42
  • LinkedIn: agoranov

Agoranov is a startup incubator based in Paris, Île-De-France, France, founded in 2000. They specialize in supporting technology and science startups through personalized assistance, fully equipped facilities, and acceleration programs. Agoranov has been involved in several relevant transactions in the pharmaceutical sector, including Step Pharma, which raised $3,414,153 in a seed round in 2014, and Acticor Biotech, which received funding in a venture round in 2010. Other notable investments include Oregon Therapeutics and Biomunex, both of which are also in the biotech field. Their diverse portfolio and focus on early-stage companies make them a significant player in the pharmaceutical clinical trials landscape.


15. Scottish Enterprise


Scottish Enterprise is a public entity established in 1991, dedicated to fostering economic development in Scotland. With a workforce of 1001-5000, it provides a variety of services including funding, business development advice, and support for innovation and exports. In recent years, Scottish Enterprise has been involved in several significant transactions within the pharmaceutical sector. Notably, they provided funding to TC BioPharm in both a Series A round and a subsequent venture round, totaling over $11 million. Additionally, they awarded Valneva up to £20 million in research and development funding for the manufacture of their Covid-19 vaccine candidate, VLA2001, and other vaccines. These transactions highlight Scottish Enterprise's active role in supporting pharmaceutical innovation and development, making them a key player in the industry.


16. Andera Partners

  • Website: anderapartners.com
  • Type: Private Equity
  • Headquarters: Paris, Île-De-France, France
  • Founded year: 1953
  • Headcount: 51-200
  • Number of deals in 2024: 10
  • LinkedIn: anderapartners

Andera Partners is a private equity firm based in Paris, Île-De-France, France, founded in 1953. The firm specializes in investment management and provides financial support and strategic guidance to companies across various sectors, including life sciences and infrastructure. In recent years, Andera Partners has been actively involved in the pharmaceutical sector, participating in significant funding rounds for companies engaged in clinical trials. Notable transactions include their participation in Amolyt Pharma's Series B and C financing rounds, which raised substantial capital to advance therapeutics for rare endocrine disorders. Additionally, they contributed to ReViral's Series C financing, which is aimed at supporting Phase 2 clinical development for a novel antiviral treatment. These investments highlight Andera Partners' commitment to fostering innovation in the pharmaceutical industry, particularly in the context of clinical trials.


17. M Ventures

  • Website: m-ventures.com
  • Type: Venture Capital
  • Headquarters: Amsterdam, North Holland, Netherlands
  • Founded year: 2009
  • Headcount: 11-50
  • Number of deals in 2024: 18
  • LinkedIn: merck-ventures

M Ventures is a venture capital fund based in Amsterdam, Netherlands, founded in 2009. The firm specializes in investing in transformative ideas within the biotechnology and technology sectors, with a strong emphasis on healthcare and life sciences. M Ventures provides funding and strategic guidance to startups, helping them achieve commercial success. Notably, M Ventures has been involved in significant transactions in the pharmaceutical clinical trials space, such as their investment in Calypso Biotech, which raised €20M to develop its anti-Interleukin-15 antibody CALY-002 for autoimmune diseases, and their participation in Galecto Biotech's €79 million Series C financing, aimed at conducting phase 2/3 clinical studies for inhaled TD139 in idiopathic pulmonary fibrosis. These investments highlight M Ventures' active role in supporting companies that are engaged in clinical trials and advancing innovative therapies.


18. Gilde Healthcare


Gilde Healthcare is a venture capital firm based in Utrecht, Netherlands, specializing in healthcare investments. Founded in 1982, the firm manages over €2.6 billion across two fund strategies: Venture & Growth and Private Equity. Gilde Healthcare focuses on innovative healthtech and therapeutics companies, as well as profitable lower mid-market healthcare providers in Europe. Notably, they have participated in significant funding rounds for companies involved in pharmaceutical development, such as Calypso Biotech, which raised €20M in a Series A financing round to develop its anti-Interleukin-15 antibody, CALY-002, aimed at entering First-in-Patient studies. Their previous investments in Evotec and Definiens also highlight their engagement in the pharmaceutical sector, as these companies are involved in drug discovery and development processes.


19. Sanofi

  • Website: sanofi.com
  • Type: Corporate
  • Headquarters: Paris, Île-De-France, France
  • Founded year: 1973
  • Headcount: 10001+
  • Number of deals in 2024: 17
  • LinkedIn: sanofi

Sanofi is a global pharmaceutical company headquartered in Paris, Île-De-France, France, founded in 1973. With over 10,000 employees, Sanofi specializes in the research, development, manufacturing, and marketing of medications and vaccines across various therapeutic areas, including oncology and diabetes. In recent years, Sanofi has made notable investments in biotechnology firms that are engaged in clinical trials and innovative therapies. For instance, they invested $60 million in Gyroscope Therapeutics, a company focused on developing treatments for eye diseases, and participated in funding rounds for Areteia Therapeutics, which is advancing a Phase III development program for eosinophilic asthma. These transactions highlight Sanofi's commitment to supporting clinical research and development in the pharmaceutical sector.



Pharmaceutical Clinical Trials Insights: Key Investors in Europe


InvestorHeadquarterSizeFoundedDeals 2024
Novo HoldingsHellerup, Denmark51-200199945
European Innovation Council (EIC)Brussels, Brussels, Belgium201-500195857
Bpifrance French Tech AccélérationParis, Île-De-France, France1-102015198
Sofinnova PartnersParis, Île-De-France, France51-200197225
Novartis Venture FundBasel, Basel, Switzerland11-50199610
HBM Healthcare Investments AGZug, Zug, Switzerland1001-500020018
NovartisBasel, Basel, Switzerland10001+19967
European Investment Bank (EIB)Luxembourg1001-5000195899
ForbionNaarden, North Holland, Netherlands11-50200623
Life Sciences Partners (LSP)Amsterdam, North Holland, Netherlands11-50198715
AbingworthLondon, England, United Kingdom (UK)11-5019736
AlmiStockholm, Stockholm, Sweden201-50019947
Nextech InvestZurich, Zurich, Switzerland11-50199813
AgoranovParis, Île-De-France, France11-50200042
Scottish EnterpriseGlasgow, Scotland, United Kingdom (UK)1001-5000199155
Andera PartnersParis, Île-De-France, France51-200195310
M VenturesAmsterdam, North Holland, Netherlands11-50200918
Gilde HealthcareUtrecht, Utrecht, Netherlands51-200198212
SanofiParis, Île-De-France, France10001+197317


Want to find more investors focusing on the pharmaceutical clinical trials industry?

If you want to find more investors that are active in the pharmaceutical clinical trialsindustry, you can do that with Inven. We built this list and analysis throughInven's Investor Search, and there are a lot more private equity, venturecapital, and corporate investors like these globally.

With Inven, you'll also get to know:

  • Deal History: Number of deals and their sizes.
  • Portfolio: Companies they've invested in.
  • Contact data: Key dealmakers, including their emails and phonenumbers.
  • ...and much more!