OrbiMed announced the closing of its next venture capital financing with just over $735 million in commitments.
The financing includes approximately $36 million from the General Partner.
Investors in the fund include some of the largest endowments, foundations, sovereign wealth funds and financial institutions globally.
The new fund will invest in all stages and sectors of the healthcare industry, with a focus on biopharmaceutical, medical device, and diagnostics companies located in North America and Europe.
The new fund is expected to invest in approximately 30 portfolio companies in amounts generally ranging from $10 million to $50 million.
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