RM Global (RMG), an international life sciences investment banking firm, is expanding its presence in Israel with the launch of a new biopharma venture fund.
The fund dedicated to the portfolio of FutuRx, an Israel-based early-stage biopharma incubator founded by Johnson & Johnson Innovation, Takeda, and OrbiMed, in cooperation with the Israel Innovation Authority (formerly the Office of the Chief Scientist).
Founded and managed by RM Global partners Mr. Yaron Breski, Mr. Assaf Keret, Mr. Ted Moon, and Mr. Bruce Roberts, the Fund has completed its first closing of $30m and will open to new investors for a second closing in the near future.
There are currently 10 portfolio companies in FutuRx, developing breakthrough technologies, with up to 30 additional portfolio companies to be formed. The existing and future portfolio companies are based on research originating at leading institutions in Israel and around the world, including the Weizmann Institute, The Hebrew University, Johns Hopkins, and Stanford among others.
Several FutuRx ventures are already advancing as independent companies, financed by leading international players.