Europe’s Medicxi closed a €500 million fifth fund to back asset‑centric biotech companies across development stages, the firm announced in a press release. The oversubscribed raise follows recent exits and buyouts within its portfolio and will support startups aiming for focused product development. Medicxi emphasized capital efficiency and cited recent portfolio realizations to justify continued investment in early-to-mid stage translational ventures. The fund positions Medicxi to accelerate European biotech deal activity and de-risked company formation.