Friday, May 6, 2016

venBio Raises $315M Life Science Investment Fund

San Francisco-based venture capital ivnestor venBio announced this morning that it has raised $315M in its second life sciences fund, venBio Global Strategic Fund II. The funding came from Amgen, Merck, and Baxalta, along with a number of other limited partners. According to venBio, the new fund exceeded its original target of $250M. venBio focuses its investments on medicines and technologies with a focus on novel therapeutics for unmet medical needs, according to the company. The fund is led by Robert Adelman, M.D., and Corey Goodman, Ph.D. As part of the new fund, venBio said it has added Aaron Royston, M.D., as a Principal at the firm, and Jaune Pons as Venture Partner, with Behzad Aghazadesh, Ph.D. continuing as Managing Partner in New York.