BioCentury
ARTICLE | Finance

Ebb & Flow

May 26, 2008 7:00 AM UTC

Based on its track record of exits from its BioDiscovery 1 and 2 funds during the last eight years, Edmond de Rothschild Investment Partners has raised a new E150 million ($233.8 million) fund in less than four months. Its five IPOs and six trade sales from the first two funds - including last week's acquisition of U3 Pharma by Daiichi Sankyo (Tokyo:4568; Osaka:4568) - underpinned support for BioDiscovery 3, which was to be unveiled this week.

"We began the fundraising on Feb. 4, and we have benefited from the strong support of investors from our original funds. Many of them have returned, increasing significantly the amounts they have allocated to our funds, with one of them investing five times more than what they had put in BioDiscovery 2," EdRIP partner Olivier Litzka told Ebb & Flow...