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Home » Oberland raises $800M for healthcare investments

Oberland raises $800M for healthcare investments

September 6, 2018 By Nancy Crotti

Investment firm Oberland Capital said today that it has closed its second royalty and credit opportunities fund, Oberland Capital Healthcare II LP (Fund II), at its hard cap of $800 million in capital commitments.

The fund will target investments between $20 million and $150 million with a focus on commercial stage or near-commercial stage biopharmaceutical, medical device and diagnostic companies and royalty-bearing products.

“We are very grateful for the support shown by our limited partners in helping us to significantly surpass our $650 million target size for Fund II,” said managing partner Andrew Rubinstein in a prepared statement.

Investors in Fund II include public and corporate pension plans, financial institutions, foundations and endowments located in the United States, Europe and the Middle East. A private investment firm based in New York City, Oberland Capital has made $1.2 billion in capital commitments since it was founded in 2013.

Oberland provided $90 million in structured financing to Impact Biomedicines (San Diego) in 2017 for development of a drug to treat myelofibrosis, a rare blood cancer. Celgene (NASDAQ: CELG) announced in January that it would acquire Impact Biomedicines for up to $7 billion.

The investment firm also extended $90 million in a loan/debt equity deal to New Haven, Conn.-based Melinta Therapeutics (NASDAQ: MLNT) in 2017. Proceeds from this financing were to fund commercialization for Baxdela, an antibiotic developed to treat acute bacterial skin and skin-structure infections.

 

Filed Under: Business/Financial News Tagged With: Celgene, melintatherapeutics, oberlandcapital

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