Saints marches in

Secondary investment firm Saints Capital did a deal last week with early stage life sciences VC Oxford Bioscience Partners that will give Oxford some immediate liquidity for a couple of older funds and allow it to retain some long-term upside.

Saints has formed a new entity to hold stakes in nine former Oxford portfolio companies. The firm has committed $50 million, about half of which will immediately go to Oxford's LPs. The remainder will be used for follow-on investment in the companies...