Ysios Capital, a life sciences-focused venture capital firm, has launched InceptionBio, a €100 million fund aimed at building and supporting early-stage biotech companies.
The fund has reached its first close with backing from the Centro para el Desarrollo Tecnológico y la Innovación (CDTI) through its SICC Innvierte programme. Led by Managing Partner Joan Perelló and Partner Arturo Urrios, the initiative is designed to strengthen the translation of scientific research into commercial therapies, particularly within Spain’s growing biotech ecosystem.
What The Company Does
Founded in 2008, Ysios Capital invests in early- and mid-stage life sciences companies developing therapeutic solutions, particularly in areas with significant unmet medical needs. The firm manages more than €400 million across multiple funds and also advises the listed Telescope Biotech Fund.
With InceptionBio, Ysios is extending its investment model further upstream by focusing on company creation. The fund will identify promising scientific discoveries and support their transformation into viable biotech startups. This includes working closely with universities, research centres, and scientific founders to advance early-stage projects from concept to structured companies capable of attracting further investment.
The approach places emphasis on technology transfer opportunities, enabling scientific breakthroughs to move more efficiently from research environments into clinical and commercial development pipelines.
Advertisement
Market Context / Industry Background
Biotech ecosystems across Europe are increasingly prioritising early-stage innovation and technology transfer as key drivers of long-term competitiveness. Spain, in particular, has seen growing institutional support aimed at bridging the gap between academic research and commercial application.
Public-private investment mechanisms such as CDTI’s Innvierte programme play a central role in this process by reducing early-stage risk and encouraging venture capital participation. Strengthening this pipeline is considered critical for ensuring that high-quality scientific output can translate into scalable companies capable of competing internationally.
In this context, funds like InceptionBio reflect a broader shift toward more proactive company-building strategies within European venture capital, especially in sectors where development timelines are long and capital-intensive.
Founder / Investor Commentary
Arturo Urrios, Partner at Ysios Capital, highlighted the strategic rationale behind the fund, noting that the firm sees “a significant opportunity to identify differentiated scientific assets, translate them into high-potential companies, and attract the talent and capital needed to develop them.” He added that InceptionBio aims to connect science, entrepreneurship, and investment while working closely with both public and private stakeholders across Europe, with a clear focus on Spain.
Joan Perelló, Managing Partner at Ysios Capital, emphasised the strength of the local research ecosystem, stating that “Spain has world-class science and a unique opportunity to translate that science into globally impactful biotech companies.” He explained that the new fund will allow Ysios to engage earlier in the innovation cycle and collaborate more closely with scientific institutions to develop solutions with tangible patient impact.
Growth Plans / Use Of Funds
The €100 million fund will be deployed to support the creation and early development of new biotech ventures, with a strong geographic focus on Spain. Ysios plans to build companies around scientific assets originating from universities and research institutions, while also identifying international opportunities that can be developed within the Spanish ecosystem.
The fund already has a pipeline of potential investments under advanced review and aims to support the launch of at least three new biotech companies in 2026. In addition to funding, Ysios will provide strategic guidance and operational support to help early-stage ventures navigate the complex path from research to clinical development.
By expanding its involvement at the earliest stages of company formation, the firm is positioning itself to play a more active role in shaping the next generation of biotech companies in Europe.
About Ysios Capital
Ysios Capital is a venture capital firm focused on life sciences investments. Founded in 2008 and headquartered in Spain, the firm manages over €400 million in assets. Its investment strategy centres on supporting innovative therapeutic companies from early-stage development through to later clinical phases.
