Global healthcare investment firm Cowen Healthcare Royalty Partners has held the close of its second fund at approximately $1bn.
New capital commitments came from existing limited partners as well as public and corporate pension funds, financial institutions, insurance companies, funds-of-funds and university endowments.
Cowen Healthcare Royalty Partners II, L.P. (CHRP II) wil focus on investing in traditional passive royalties, Synthetic royalties® and structured financings. Similar to its first fund, Cowen Royalty will target investments between $20m-$100m in the U.S., Europe and Asia. It will invest mainly in commercial stage biopharmaceutical and medical device companies in need of growth capital, and universities/inventors looking to monetize product interests.
Launched in 2007 by Founding Managing Directors Gregory B. Brown, M.D., Clarke B. Futch, and Todd C. Davis, Stamford, CT-based Cowen Royalty has made a total of 20 investments in 17 products including Lexiva® (GlaxoSmithKline), Cetrotide® (Merck Serono), Myozyme® (Genzyme, a Sanofi Company), Qutenza® (Astellas Pharma), Oracea® (Galderma) and KAMRA® inlay (AcuFocus). The firm has over $1.5bn of capital under management.