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Alternative Market Briefing

VenBio Partners closes 3rd life sciences venture capital fund at $394m

Tuesday, April 07, 2020

Laxman Pai, Opalesque Asia:

The San Francisco-based venture capital firm VenBio Partners closed its third life sciences venture capital fund at roughly $394 million, surpassing its original fundraising target.

VenBio Global Strategic Fund III LP mainly targets therapeutics companies developing biopharmaceuticals for unmet medical needs.

The money was raised from existing and new investors, which include institutional investors like funds-of-funds, family offices, endowments and foundations, financial institutions, corporate pensions and pharmaceutical companies.

Led by Managing Partners Corey Goodman, Ph.D., Robert Adelman, M.D., and Aaron Royston, M.D., venBio Fund III will continue to invest primarily in therapeutics companies that are developing biopharmaceuticals for unmet medical needs. The team typically leads or co-leads investments and takes an active role with each of their portfolio companies.

"We are grateful for the tremendous support we have received from our current investors during this fundraise," said Dr. Adelman. "We appreciate their ongoing commitment and welcome the broad range of new top-tier investors who have joined them."

"We remain committed to our founding strategy at venBio, namely to turn great science into impactful medicine," said Dr. Goodman. "Our investment thesis, regardless of stage of company, remains to look for investment opportunities with a 3- to 5-year time horizon."

"In addition to generating strong financial retur......................

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