Mann Bioinvest goes small

Mann Bioinvest has started raising capital for a new crossover fund to invest in undervalued small cap biotechs and to give the firm greater access to private company deals.

The firm hopes to raise £50-£100 million ($75.2-$150.5 million) for the Mann Bio Pathfinder Fund, which will list on the London Stock Exchange. The closed-end fund will invest globally in public and private small cap companies in biotech and medical devices. Andy Smith, who manages Mann Bioinvest's large cap and mid-cap focused Magna Biopharma Income Fund, also will manage Pathfinder...