BioCentury
ARTICLE | Finance

Benu's virtual play

Benu taps a single investor to finance virtual, asset-centric startups

September 16, 2013 7:00 AM UTC

New investment firm Benu BioVentures has the backing of a single investor to establish virtual companies that will develop preclinical programs and move them to Phase II proof of concept using an asset-centric model. Benu thinks its product development experience will allow it to compete with other firms and industry players hunting for preclinical assets.

Benu's Fred Meyer said the firm is structured as a "fundless fund," meaning it has a single undisclosed corporate investor that will provide capital to finance companies established and managed by Benu...