venBio Secures $528M for Fifth Life Sciences Venture Capital Fund

Fund Amount::
venBio has closed its fifth life sciences fund with $528 million in capital commitments.

Investment Focus::
The fund will focus on investing in biotech startups and companies developing biopharmaceuticals.

Investment Strategy::
venBio plans to be extremely selective, backing about a dozen new biotech startups over the next three years.

Recent Successes::
The firm has recently seen successful IPOs and M&A exits, which likely contributed to the fund's success.

Announcement Date::
The fund closing was announced on August 1, 2024.