MPM BioVentures' new biotech venture capital fund has been swelling quickly. Mass High Tech reports that just hours after MPM reported a first close of $69 million for its MPM BioVentures V, an amended form pushed the total to $140 million.
And it may still have some ways to go.
MPM BioVentures IV closed in the spring of 2007 with $550 million. MPM Capital manages $2.5 billion in funds. The investor has backed Waltham-based Proteon Therapeutics, TaiGen Biotechnology and Fremont, CA-based ARYx Therapeutics. It has no specific geographic focus.
- here's the story from Mass High Tech