MVM Life Science Partners closes largest raise to date

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The funding firm MVM Life Science Partners, which is behind the creation and development of a number of big biotechs, has raised $233 million in its fourth and largest funding round to date.

“MVM IV”, as it has been dubbed, will invest in medical companies--principally in Europe and the U.S., the firm said in a statement.

The fund invests broadly across the healthcare field including in technologies, therapeutics, medical devices and healthcare IT and across all stages of development from early-stage private deals to quoted companies. Investment size will generally range from $15 million up to $30 million per portfolio company.

“We have had a very positive response from investors and we are delighted with the group of investors we have been able to attract,” said Dr Stephen Reeders, managing partner at the company.

“We believe the fund raising was helped by several factors including MVM’s compelling investment strategy, extensive track record, the strength of the team and our transatlantic presence.”

MVM is a long-established investment firm in the healthcare sector and has helped startups from both sides of the Atlantic. MVM has raised four funds totaling over $700 million from its offices in London and Boston.

Some of its more notable investments include the U.K.-based biotech Heptares, which has been at work building a pipeline of G protein-coupled receptor-targeted drugs. It’s had a slate of deals with some of the world's biggest pharma partners, including: AstraZeneca ($AZN) and MedImmune; Cubist, which was acquired by Merck ($MRK); Takeda; MorphoSys and Novartis ($NVS).

Last year it was bought out by Japan’s Sosei in a deal worth up to $400 million.

And back in January, MVM led a $32 million financing round for San Diego, CA-based bioTheranostics, which researches molecular diagnostics for cancer.

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