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DUBLIN – Forbion Capital Partners raised €92 million (US$116 million) in a first close of a new fund, FCF III, further evidence that Europe's biotechnology sector is exiting the funding freeze of recent years.

Forbion, of Naarden, the Netherlands, aims to achieve a final closing of €150 million to €200 million. It follows two other Dutch venture capital firms that have raised new cash in recent weeks.