ARTICLE | Financial News

LSP raises EUR 80M toward Fund 5

October 2, 2014 2:57 AM UTC

LSP-Life Sciences Partners has raised the first EUR 80 million ($101.4 million) of a planned EUR 150 million fund. The firm said it intends to invest its new Fund 5 in 10-15 private companies with "innovative medicines and medical technologies," primarily in Europe but also in the U.S.

Both new and existing institutional and private investors participated in the new fund. LSP said an unidentified large pharma invested in Fund 5, as well as its predecessor Fund 4, which closed in 2009 at just above EUR 90 million. Pfizer Inc. (NYSE:PFE) and GlaxoSmithKline plc (LSE:GSK; NYSE:GSK) have previously invested in LSP's funds (see BioCentury, March 31). ...