Sound Bioventures

What Sound Bioventures does

Sound Bioventures is a Scandinavian venture capital fund founded in January 2022 and headquartered in Malmö, Sweden, with additional offices in Stockholm, Hellerup (Copenhagen, Denmark) and Bethesda, Maryland. The firm invests in about-to-be-clinical and clinical-stage private biotech companies across Europe and the USA that are developing novel medicines for significant unmet medical needs, with a thematic focus on specialty therapeutics including orphan and rare diseases. Fund I held a first close at €110 million in January 2022 anchored by Novo Holdings, Saminvest, Vækstfonden, the European Investment Fund and Ramsbury Invest, and has been built up to approximately €116 million; all portfolio companies have reached clinical stage. The portfolio spans 10-11 companies across oncology (Cytospire Therapeutics, Theolytics), cardiovascular (AnaCardio), autoimmune (Artax Biopharma, Aboleris), neurodegenerative disease (Teitur Trophics), ophthalmology (Breye Therapeutics), RNA therapeutics (ARTHEx Biotech), rare pediatric skeletal disease (BOOST Pharma), renal disease (NephroDI) and coagulation (VarmX).

The firm operates a direct, sales-led investment model: deal flow is sourced through trans-Atlantic networking, biotech partnering conferences, the firm's investment proposal portal ([email protected]) and company-creation activities led by its Entrepreneur-in-Residence. Sound Bioventures typically co-invests alongside specialist life science syndicates (4BIO Capital, Sunstone, Industrifonden, Bpifrance, Abingworth, LifeArc, Servier Ventures, British Business Bank, Criteria Bio Ventures) and takes board seats for active portfolio management. The two Managing Partners — Casper Breum (ex-Novo Nordisk, Lundbeck, Lundbeckfonden Ventures) and Johan Kördel (Ph.D., ex-Pharmacia, Biovitrum, Lundbeckfonden Ventures) — are supported by five investment professionals across the Copenhagen, Stockholm and US offices.

Revenue is generated through a standard fund-management economic model: recurring management fees on committed/invested Fund I capital plus carried interest on successful exits. Pricing and carried interest terms are not publicly disclosed. The most significant value-creation event to date is the September 2025 strategic collaboration between portfolio company VarmX and CSL Behring for VMX-C001 (a DOAC reversal agent), valued at up to $2.1 billion in upfront, development and commercial milestone payments approximately 34 months after Sound Bioventures' initial investment. No portfolio company has yet achieved a completed IPO or trade-sale exit, so realized carried interest has not been reported.

Name

Sound Bioventures

Legal name

Sound Bioventures Management AB

Website

https://soundbioventures.com

Company type

Private

Founded year

2021

Operating status

Operating

Headcount range

1–10 employees

Short description

Sound Bioventures is a Scandinavian venture capital fund investing in clinical-stage private biotech companies in Europe and the USA developing novel medicines for unmet medical needs, with €116M in Fund I capital deployed across ten portfolio companies.

Ownership category

akta.pro rank

Headquarters

HQ city

Malmö

HQ country

Sweden

HQ region

Europe

Offices4 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Others

Revenue model

1. Fund Management: Venture capital fund generating returns through equity investments in portfolio companies, with revenue derived from fund management fees and carried interest on successful investments
2. Portfolio Company Returns: Returns realized through exits via M&A transactions (e.g., VarmX partnership with CSL Behring valued up to $2.1B) or IPOs

Go-to-market motion1 record

Distribution channels1 record

Marketing channels5 records

Core offering

Sound Bioventures manages a venture capital fund (Fund I) that invests equity capital into about-to-be-clinical and clinical-stage private biotech companies across Europe and the USA. The firm supports these portfolio companies through syndicate participation, co-investment, board representation, and company creation, targeting novel medicines for significant unmet medical needs in specialty therapeutic areas.

Product overview

Sound Bioventures is a venture capital fund that operates as a single unified investment vehicle (Fund I) rather than a platform-plus-modules architecture. The fund invests in about-to-be clinical and clinical stage private biotech companies across Europe and USA. The portfolio consists of 11 portfolio companies focused on developing novel medicines addressing significant unmet medical needs across specialty therapeutic areas including oncology (Cytospire Therapeutics, Theolytics), rare pediatric diseases (BOOST Pharma, NephroDI), heart failure (AnaCardio), autoimmune diseases (Artax Biopharma, Aboleris), neurodegenerative diseases (Teitur Trophics), ophthalmology (Breye Therapeutics), RNA medicines (ARTHEx Biotech), and coagulation disorders (VarmX).

Differentiator

Problem solved

Functional benefit

Products and services

• Sound Bioventures Fund I A venture capital fund investing equity capital into about-to-be-clinical and clinical-stage private biotech companies in Europe and the USA developing medicines in specialty therapeutics areas with significant unmet medical needs. Closed at €116M (first close €110M in January 2022), anchored by Novo Holdings, Saminvest, Vækstfonden, EIF, and Ramsbury Invest.

Quantifiable outcome

• Fund I raised €116M from leading institutional investors and family offices
• +2 more outcomes

Named customers11 records

Segments2 records

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

One partnership is on record.

• CSL BehringcoreStrategic or Co-development Partner · 1 September 2025Strategic collaboration with VarmX to fully fund Phase III program for VMX-C001; up to $2.1B in upfront, development, and commercial milestone payments

Scale indicators5 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• Novo Seeds: Early-stage life sciences venture arm of Novo Holdings, also based in the Nordics and focused on clinical-stage biotech. Directly comparable to Sound Bioventures in geography, stage focus, and therapeutic specialization, and a co-investor (anchored Fund I).
• Lundbeckfonden Ventures: Copenhagen-based life sciences VC and the prior employer of several Sound Bioventures team members. Invests in clinical-stage European biotech with Nordic roots, making it one of the closest direct competitors.
• Sunstone Life Science Ventures: Danish/European early-stage life sciences VC investing in Series A clinical-stage biotech. Co-led Teitur Trophics' Series A with Sound Bioventures, illustrating overlapping deal sourcing and stage focus.
• Industrifonden: Swedish venture capital firm with a strong life sciences practice that has co-invested with Sound Bioventures (e.g., Teitur Trophics Series A). Comparable Nordic footprint and clinical-stage therapeutic focus.
• HealthCap: Stockholm-based venture capital firm focused exclusively on life sciences, investing in clinical and growth-stage European biotech. Direct competitor in the Nordic clinical-stage VC market.
• BioGeneration Ventures: Dutch early-stage life sciences VC focused on clinical-stage biotech company creation in Europe. Comparable in fund size, stage focus, and company-creation model.
• Gilde Healthcare: European healthcare VC investing across biotech and medtech with multiple funds. Overlapping thesis on clinical-stage biotech and similar mid-sized fund vintages.
• INKEF Capital: Dutch life sciences and technology VC investing from Series A onwards in clinical-stage biotech. Comparable in stage, geography, and Nordic/European cross-border mandate.
• 4BIO Capital: UK-based life sciences VC specialized in cell and gene therapies. Co-led the Cytospire Therapeutics Series A with Sound Bioventures participation, demonstrating overlapping clinical-stage deal flow.

Broad incumbents

• Forbion: Large European life sciences VC manager with multiple funds and broader geographic reach. While operating at a larger scale, it competes for the same clinical-stage biotech deals across Europe and the US.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/sound-bioventures

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments13 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Sound Bioventures