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Steady as venBio goes

venBio is staying the course with relatively small $394 million fund even as it moves away from strategic investors

A day after Arch and Flagship unveiled dueling billion dollar funds, venBio is staying the course with a more modest $394 million fund. What is new for the nine-year-old firm is a dramatic shift away from strategic investors.

About 90% of the funds for venBio’s debut fund came from biopharmas and CROs. Amgen Inc. (NASDAQ:AMGN) and Baxalta were LPs in Fund I, along with PPD

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