BioMotiv, Torrey Pines to co-invest up to $40M

BioMotiv LLC (Cleveland, Ohio) and life science VC firm Torrey Pines Investment partnered to co-invest up to $40 million in early stage life science technologies and companies over the next seven years. BioMotiv said the partners plan to invest in up to 20 projects and may invest as much as $10 million per project. The company said the partners are exploring three potential projects but declined to disclose a timeline for the first joint investment. Both parties can present opportunities for joint investment and will contribute equal funding to each partnered project. ...