Global investment management firm OrbiMed has closed its first investment fund dedicated to life sciences venture capital opportunities based in Israel, at $222m.
OrbiMed Israel Partners Limited Partnership, which was supported by the Government of Israel, is an integral part of the global OrbiMed family of funds. The vehicle invests in biotechnology, pharmaceutical, medical device and diagnostics companies at varying stages of maturity, from seed stage through growth equity.
It has already made two investments:
– Keystone Heart, a company developing an embolic protection device for interventional cardiology procedures, and
– Otic Pharma, a company developing foam formulations for ear medication.
The fund is led by Israel-based partners Dr. Nissim Darvish, Anat Naschitz and Erez Chimovits, who work in collaboration with Jonathan Silverstein and Carl Gordon, General Partners and co-heads of OrbiMed’s global private equity business, and with Aya Jakobovits, a Venture Partner.
OrbiMed has offices in New York City, Tel Aviv, San Francisco, Shanghai and Mumbai.