EIB, Angelini Ventures Launch €150m Partnership to Boost EU Biotech and Digital Health

The partnership—announced in Rome—is the EIB’s first-ever agreement with a corporate venture capital fund in the healthcare sector, marking a strategic shift toward deeper collaboration with industry-led innovation funds.

The European Investment Bank (EIB) and Angelini Ventures, the corporate venture capital arm of Angelini Industries, have signed a landmark agreement to mobilize €150 million to finance European biotechnology and digital health startups. The partnership—announced in Rome—is the EIB’s first-ever agreement with a corporate venture capital fund in the healthcare sector, marking a strategic shift toward deeper collaboration with industry-led innovation funds.

Under the agreement, the EIB and Angelini Ventures will each invest €75 million over six years, co-financing seven to ten high-potential startups developing advanced solutions in biotechnology, medical technology and digital health—especially companies approaching market readiness.

Strengthening Europe’s Leadership in Health and Biotech Innovation

EIB Vice-President Gelsomina Vigliotti emphasized the significance of the initiative:

“Investing in biotechnology and digital health is vital, as it accelerates research, improves the quality of care, and supports the growth of companies able to bring cutting-edge solutions to market.”

She added that initiatives of this kind bolster Europe’s global technological competitiveness while generating real benefits for patients and healthcare systems.

The project fits within TechEU, the EIB Group’s strategic programme designed to accelerate European innovation. TechEU aims to deploy €70 billion in equity, quasi-equity, loans and guarantees between 2025 and 2027, mobilizing around €250 billion in investment for Europe’s real economy.

Angelini Ventures Expands Its European Footprint

Founded in 2022 with €300 million from Angelini Industries, Angelini Ventures has already invested €125 million in 22 startups, focusing on breakthrough technologies in life sciences and digital health.

Angelini Industries CEO Sergio Marullo di Condojanni said the new partnership advances the company’s mission to drive innovation at scale:

“Being chosen by the EIB for an ambitious project aiming to consolidate Europe’s role in innovation and health is an opportunity to turn excellent ideas into solutions with real impact on people’s lives and the economic development of European countries.”

Angelini Ventures CEO Paolo Di Giorgio stressed the importance of international expansion:

“This agreement strengthens our global vision and accelerates market access for innovative projects. It enables strategic partnerships in health while providing scaling opportunities essential for growth in the biotechnology and digital health sectors.”

First Investment Target: Adcytherix

The partnership’s first planned co-investment will support the second financing round of Adcytherix, a French biopharmaceutical company developing next-generation antibody-drug conjugates (ADCs)—precision cancer therapies that combine targeted antibodies with advanced cytotoxic payloads.

The first financing round, closed in October, was led by Bpifrance (Large Venture and InnoBio) and co-led by Kurma Partners, Andera Partners, and Angelini Ventures. The second-round co-investment by the EIB and Angelini Ventures is currently being finalised.

Supporting Europe’s Startup and Scale-Up Ecosystem

The EU’s Startup and Scale-Up Strategy seeks to counter two major obstacles:

1. Transitioning innovations from research to market

2. Helping startups grow into globally competitive scale-ups

The EIB’s collaboration with corporate venture capital entities helps identify and fund high-potential startups, strengthening Europe’s capacity to retain innovation and prevent the migration of top companies outside Europe. Between 2008 and 2021, nearly 30% of European unicorns moved outside the EU, and only 8% of global scale-ups are based in Europe.

Europe’s Venture Capital Landscape: A Competitive Gap

Venture capital activity remains uneven globally:

• United States (2024): 15,000 rounds, €210 billion invested

• Asia (2024): 11,000 rounds, €70 billion invested

• Europe (2024): 9,600 rounds, €57 billion invested

  • Deals down 16% from 2023

  • Total value down 8%

Meanwhile, the U.S. recorded 4% more deals and a 29% increase in funding.

Italy’s Growing Innovation Momentum

Italy’s VC market is expanding rapidly:

• €1.5 billion invested in 2024 across 417 rounds

• 31% increase from 2023

• Strong focus on deeptech, software and life sciences

• €300 million invested in life sciences alone across 62 deals

One of the biggest Italian life sciences deals of 2025 was a €12 million investment in Serenis, co-led by Angelini Ventures.

A Strategic Investment for Europe’s Future

The EIB–Angelini Ventures partnership represents a powerful model of public–private cooperation. By jointly investing in breakthrough European startups, the initiative aims to:

• Accelerate medical innovation

• Strengthen Europe’s biotechnology sector

• Improve patient outcomes through new therapies

• Expand digital health technologies

• Boost Europe’s global competitiveness

• Create high-quality jobs in the knowledge economy

With this agreement, Europe takes a decisive step toward ensuring that scientific excellence translates into market-ready innovations—delivered by companies that grow and remain within the region.