SV Health closes $400M early biotech, med dev and digital health fund

The closing of the Boston firm's sixth fund comes as it grows its staff and takes on a new name.

SV Health Investors (formerly SV Life Sciences) has closed its sixth fund, hitting its target of $400 million, as the firm itself also registers a numbers growth.

The Boston-based venture capital firm (with offices also in London) says the new cash boost will be funneled into early-stage life science companies, and will also focus on “growth equity opportunities” with healthcare services and digital health companies.

Although reaching its funding goal, in its previous round, which closed back in 2010, the firm managed to raise a beefier $523 million.

FREE DAILY NEWSLETTER

Like this story? Subscribe to FierceBiotech!

Biopharma is a fast-growing world where big ideas come along every day. Our subscribers rely on FierceBiotech as their must-read source for the latest news, analysis and data in the world of biotech and pharma R&D. Sign up today to get biotech news and updates delivered to your inbox and read on the go.

With that purse, SV took stakes in ophthalmology-focused KalVista Pharmaceuticals, dermatology biotech Thesan Pharmaceuticals and oncology innovator Sutro Biopharma, among others.

Over the past two years, the firm has seen Entellus Medical execute a $78 million IPO, Convergence Pharmaceuticals go to Biogen for up to $675 million, and OncoEthix get bought by Merck in a $375 million deal. SV has around $2 billion under management.

The firm itself, with a new name in tow, has also over the past 18 months boosted its team by 30%.

“It’s exciting to continue applying our team’s expertise, networks and operating experience for entrepreneurs and companies that have the potential to develop and advance important new treatments and solutions,” Paul LaViolette, SV Health Investors managing partner, said in a statement. “We are backing remarkable entrepreneurs and proven operating executives who are helping transform healthcare and improve patients’ lives.”

Suggested Articles

The trial hit its primary endpoint by the time of an interim analysis, enabling Chi-Med to stop the study and start work on a filing for approval.

The anticipated fundraising haul will bankroll development of a pipeline of RAS programs up to the completion of IND-enabling studies.

As GlaxoSmithKline looks to start a 23andMe-partnered test this year, the Big Pharma is increasingly looking to tech for its R&D.