BUSINESS BITES: OrbiMed Launces $950m VC Fund; EKF Casts Off More Loss-Making Ops With Selah Sell-Back; Mela Changes Name
This article was originally published in Clinica
OrbiMed has closed its biggest venture capital fund to date, raising $950m which it will invest in biopharma, medical devices, diagnostics and healthcare IT companies. It expects to make around 30 investments, in companies based in North America and Europe; each investment will range from $10-75m. Carl Gordon, a partner at OrbiMed and co-head of global private equity, stated: “The increasing pace of translation of science to medicine creates exciting opportunities for the Fund in areas such as oncology, central nervous system disease, and gene editing.” OrbiMed currently has around 40 medtech-related investments in its portfolio, with a strong focus on orthopedics and cardiology among its device companies.