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Laxman Pai, Opalesque Asia:

New York-based investment management firm Deerfield Management Company has raised $840 million for a new venture capital fund dedicated to early drug innovation, digital health and medical technology.

The health-care investment firm said that the new Healthcare Innovations Fund II will invest in advancements in science that may lead to important therapeutic interventions and back new technologies and infrastructure to improve the way healthcare is delivered to patients.

Fund II will collaborate with more than 15 leading academic institutions to seed novel scientific research. The Fund also has access to innovative medtech incubators created in partnership with two medical device industry leaders.

"Now more than ever, these unprecedented times underscore the importance of supporting the critical work of our nation's scientists and healthcare systems," said James E. Flynn, managing partner of Deerfield. "Our uniquely supportive model allows us to provide leverage to innovative companies and accelerate the benefit to patients."

The Cure, the recently announced innovation campus located at 345 Park Avenue South, will become the central location of Deerfield where much of the work of the Healthcare Innovation Fund II will take place. Many of the early-stage companies will utilize the Cure's wet and dry labs, engineering, computing, and shared resource spaces, said a press release.

According to the release, the companies will also ......................

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