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Laxman Pai, Opalesque Asia: TVM Capital Life Science has announced the final close of TVM Life Sciences Investments II (TVM LSI II) on $478m.
TVM LSI II was substantially oversubscribed, said a press release from the Munich, Germany, and Montreal, Canada-based life sciences venture capital firm.
The committed capital was raised from high-profile international investors, including Eli Lilly and Company, other strategic investors, pension funds, endowments, foundations, fund-of-funds, wealth managers, and large US banks as well as multi and single-family offices from the Americas, Europe, and South Korea.
The geographical focus for the Fund's investment activity is on North-America and Europe said the release.
"TVM LSI II will maintain TVM's focus on investing in assets that provide a visible and attractive exit strategy from the outset to maximize returns and providing early and significant liquidity for its investors," it said.
About 50-60% of the Fund's capital is intended to be invested in "Project Focused Companies" (PFCs) which are majority-owned by the Fund and set up for the development of early-stage drug candidates in a capital and time-efficient manner.
The remaining capital will be invested in late clinical-stage biopharmaceutical companies as well as commercial-stage medical device and diagnostic companies. "The proven focus of TVM LSI II continues building a portfolio of differentiated first-in-class and best-in-class assets tha...................... To view our full article Click here
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