Amidst a struggling IPO market, Forbion drums up half a billion in private cash for second late-stage fund

European venture capital firm Forbion announced Thursday morning an initial close of €470 million ($504 million) for its second growth fund meant to boost late clinical-stage biotechs.

Forbion’s Growth Opportunities Fund II comes two years after its first late-stage-specific growth fund, which saw its first close at €250 million and…