Healthcare investor OrbiMed announced its second debt and royalty fund on Monday and continued to expand efforts to add more healthcare institutions as investors.
The $924 million OrbiMed Royalty Opportunities II will invest between $20 million to $150 million per company. OrbiMed’s various investment funds total $14 billion and cover all of healthcare’s various sectors.
They have most recently invested in IPO-bound Invitae, T-cell therapy Adaptimmune, and vitreoretinal surgery company MID Labs.
A dozen leading medical research and healthcare institutions contributed to the royalty and credit fund – the most ever, Managing Director Tadd Wessel said. He wouldn’t say how much these strategic partners contributed, but added OrbiMed wants to build something beyond a “pure financial relationship.”
Hopefully, these organizations will begin to use OrbiMed as a source of business development, and they can have a further discussions with OrbiMed about finding companies to address problems they’re having, Wessel said.
