OrbiMed said it launched a new, $735 million fund to back life science companies.
The new fund is slated for investment in all sectors of the healthcare industry, with a focus on North American and European biopharmaceutical, medical device, and diagnostics companies, according to a press release.
The fund is expected to go into roughly 30 companies in slices of $10 million to $50 million apiece, according to the release.
“We are seeking novel healthcare innovations across biopharma, devices, diagnostics and healthcare IT at any stage of development. This new fund will leverage OrbiMed’s entire global platform, which now includes more than 80 employees globally investing over $8 billion across healthcare public equities, private equities, royalties and credit opportunities,” partner & co-head of global private equity Jonathan Silverstein said in prepared remarks.