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Laxman Pai, Opalesque Asia: New York-based hedge fund firm Perceptive Advisors closed its inaugural venture capital fund, the Perceptive Xontogeny Venture Fund, at $210million.
The investment firm with a long history of funding publicly traded and later-stage privately held life sciences companies said that the PXV Fund attracted investments from endowments, foundations, family offices, and other institutional investors to lead early-stage deals in life sciences.
The new pool expects to lead first-round financings of $10 million to $20 million to help companies move their products and technologies into, or through, early clinical development.
The PXV Fund is led by Chris Garabedian, Portfolio Manager, who also serves as Chairman and CEO of Xontogeny. Xontogeny is a Boston-based accelerator that provides seed investments along with strategic and operational support to early-stage life science companies through its professional staff and network of consultants and service providers.
The PXV Fund will be focused exclusively on life sciences technologies across therapeutic areas with a greater emphasis on drug technologies and less focus on early drug and platform discovery. The general goal of PXV Fund's Series A financings will be advancing a product/technology from a preclinical lead into or through early clinical development.
"Perceptive has one of the best and most consistent track records in assessing life science technologies and I'm excited to lead thi...................... To view our full article Click here
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