Investment Team

Patrick Krol, Portfolio Manager

Patrick has been an investor in public biotech companies for over 30 years. He started as Managing & General Partner at Aescap Venture in 2005. When research showed that investing in listed biotech companies results in better returns on than investing in private companies, in 2013 he decided to make the move to listed with Aescap. After a two-year run-in period (2014-2015), during which he achieved 130% returns, he launched the Aescap Life Sciences fund in 2016. Followed in 2022 by a second biotech investment fund, Aescap Genetics.

Patrick acted as a board director of 10 biotech and medical diagnostics companies and today is on the board of Sairopa B.V. From 1995 to 2004 Patrick was Managing Director of Firm United Healthcare B.V., a consultancy company that provided market research, strategy and communication advice to the biotech/life sciences industry. During the 9 years Patrick led the company, it became a market leader on the European continent and advised over 35 public pharma and biotech companies on how to successfully market products and grow sales. He currently applies his expertise to successfully select and guide Aescap’s investments.

Patrick studied physiotherapy, followed by business administration. Later in his career he completed an executive MBA from LMS.

Michaël Mellink, Investment Partner

Michaël joined Aescap as Investment Partner in 2021. He worked in senior commercial and management positions at big pharma Eli Lilly before he became the General Manager for the Benelux operations at Cephalon, a U.S. biopharmaceutical company. In this position he also had responsibilities in the European business development team.

He was a Senior Partner of the global life sciences practice at one of the global leading executive search firms in the biotech sector, Odgers Berndtson. He advised clients on board- and senior-level appointments for pharma, biotech, medtech and service companies and worked across international markets and a broad range of companies in the industry. Michaël holds a Bachelor’s degree in physiotherapy and has studied orthopaedic medicine.

Paolo del Bufalo, Senior Analyst

Paolo obtained a Bachelor’s degree in Chemistry at La Sapienza University of Rome after which he completed two Master tracks at Leiden University, one in Chemical Biology Research and one in Science Based Business. Throughout his academic research career he focused on supramolecular chemistry and photochemistry for applications in medicinal chemistry. During his business studies, he learned to combine his scientific background with business aspects, with a focus on value investing. Paolo joined Aescap as an Analyst in 2018.

Etienne Daher, Senior Analyst

Etienne holds a Pharm.D from the University of Grenoble Alpes and an advanced Master in Corporate Strategy and Management from ESSEC Business School in Paris. Etienne started his career as an Analyst intern for Merck Ventures in Amsterdam. After which he joined the French Sovereign Wealth Fund (Bpifrance) in Paris as a Consultant where he provided operational and strategic support to biotech, medtech and digital health companies in the investment portfolio of Bpifrance. He then moved on to become Chief of Staff at Sensorion, a company developing gene therapies. Etienne joined Aescap as an Analyst in June 2021.

Lydia Yates, Analyst

Lydia received a Bachelor’s degree in Liberal Arts and Science from Maastricht University with a focus on chemistry. She then completed a business internship where she was involved in producing an Early Health Technology Assessment for a medical device startup company. Following this, she began a Master’s degree in Science and Business Management at Utrecht University and completed a research internship at the UMCU focusing on extracellular vesicle isolation for early cardiovascular disease diagnostics. Lydia joined Aescap as an Analyst in 2023.

Marjolein Willems, Analyst

Marjolein received her Bachelor’s degree in Life Science & Technology at TU Delft and Leiden University. She completed an internship at LUMC where she worked with DNA Nanotechnology. Afterwards she went to Singapore for a Management and Business program at Singapore Management University. She then continued her studies in the Netherlands with a Masters in Life Science & Technology at Leiden University, with a specialization in Science Based Business. Her academic research focused on molecular cell biology and immunology. Marjolein combines her biomedical knowledge with her specialization in business to find the most interesting investment cases for Aescap. Marjolein joined Aescap as an Analyst in 2023.

Pien Kiliaan, Analyst

Pien studied College of Pharmaceutical Sciences at Utrecht University during which she performed an academic research on allergy and followed a minor in entrepreneurship. She then went on to do a master in Bio-Pharmaceutical Sciences with a Business Specialization at Leiden University. During her academic research she focused on aging in atherosclerosis. During her business studies she combined her immunology knowledge with business topics within the pharmaceutical industry. Pien joined Aescap as an Analyst in January 2023.

José Geurten, Head of Investor Relations

José Geurten joined as Head of Investor Relations in April 2023. She has substantial experience in the Asset Management industry and has been working in investor relations for a long time. José worked for 4,5 years at Fidelity International and 3,5 at BMO Global Asset Management (now Columbia Threadneedle Investments). Before that, she worked in the financial industry at Rabobank and InsingerGilissen. She also has a wealth of experience in consulting, tourism, and IT

Bo Jesper Hansen, Portfolio Advisor

Bo Jesper, M.D., Ph.D. was the Executive Chairman of the Board of SOBI AB (Swedish Orphan Biovitrum AB) until 2016 and was appointed Deputy Chairman of the Board in 2022. SOBI is a biotech company listed on the Swedish stock exchange and had a market capitalization of around € 6 billion as the end of 2022. He is Chairman of Karolinska Development AB and also Chairman of the biotech company Orphazyme ApS. Bo Jesper served as CEO and President to the Board of Swedish Orphan International (1998-2010) until the merger with Biovitrum, forming Swedish Orphan Biovitrum. He then became the company’s executive chairman. He also was non-executive Director of Gambro until its acquisition by Baxter, as well as of Zymenex, until its acquisition by Chiesi. Bo Jesper was the Executive Chairman of Ablynx until its acquisition by Sanofi, as well as of Topotarget and in this role led the merger with BioAlliance forming OnXeo. He founded Scandinavian Medical Research during which he served as Medical Advisor for the multinationals Synthélabo, Pfizer, Pharmacia and Yamanouchi Pharmaceutical. He has also been a board member with the companies TopoTarget A/S, CMC AB, MipSalus Aps, Kontrast AB, Hyperion Therapeutics, Inc. Newron Pharmaceuticals S.p.A, Novagali Pharma S.A. and Vivolution A/S.

Bo Jesper has an extensive knowledge within clinical study design, regulatory, pharmacovigilance, and business development. He has an M.D. in Urology and a PhD from the University of Copenhagen. Patrick and Bo Jesper first met in 2012 as members of the supervisory board of biotech company Orphazyme S.p.A.

Fred Oudshoorn, Portfolio Advisor

Fred is the founder and Managing Director of Jonghoud BV, an investment firm in, amongst others, equity of private and listed healthcare companies. As a Pharmacist he built a chain of 40 pharmacies “De Vier Vijzels” which was later acquired by Alliance Unichem. He is also a founder of MediZorg, the former Chairman of Sinensis Laboratoria and Supervisory Board Member of Kadans and Kadans Science Partners. Patrick and Fred first met in their function as supervisory board members back in 2012 and soon discovered their mutual activities in investing in public innovative medical companies.

Gert Hoogland, Portfolio Advisor

Gert, M.D., MBA (INSEAD) is a pharmaceutical executive with deep operational experience. He began his career in 1982 as Medical Advisor to Organon NV in Oss, The Netherlands, followed by CEO positions for Schering AG in New Zealand and South Africa. He then founded Pharmaplan Pty Ltd in Johannesburg, which became the leading specialty pharma distributor in Africa representing biotech companies like Biogen, Bracco, Recordati, Ipsen, Genzyme and Shire. After the sale of this company to the Canadian Specialty Pharma company Paladin Inc. Gert relocated to Zurich to start HealthCrest AG, a healthcare investment and consulting company. He has initiated investments in many private and public healthcare companies, geographically encompassing Europe, India, China, the US and Africa and is Board Member of many of these portfolio companies. Patrick and Gert first met in 2013 as investors in i-Optics BV.

The Team