Deerfield launches $550M VC fund
Deerfield Management closed a $550 million healthcare venture capital fund, which it said it will invest in early stage science and therapeutics to treat genetic diseases, cancer and Orphan diseases. The firm said the fund also will invest in "technologies that can transform how therapeutics are developed and improve the way healthcare is delivered to patients."
James Flynn, the managing partner of Deerfield Management, told BioCentury the firm plans to invest the Deerfield Healthcare Innovations Fund in at least 30 companies, with investment sizes ranging from less than $1 million to as much as $50 million if necessary. He said the firm's 2014-vintage crossover fund, Deerfield Private Design III, may co-invest in start-ups alongside the new fund (see BioCentury, April 14, 2014). ...