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

Fundraising Amount:
venBio has raised $528 million for its fifth life sciences venture capital fund.

Purpose:
The funds will be used to invest in biotechnology companies focusing on diseases with unmet needs.

Previous Fundraising:
The amount raised for Fund V is comparable to the $550 million raised for its fourth fund in 2021.

Investment Focus:
The firm targets biotechs working on diseases with significant unmet medical needs.

Date of Announcement:
The fundraising was announced on August 1, 2024.