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OrbiMed launches $222 million fund in Israel life sciences

Tuesday, April 24, 2012

OrbiMed, a global investment management firm focused on the healthcare sector, has closed its first investment fund dedicated to life sciences venture capital opportunities based in Israel. The Fund, OrbiMed Israel Partners Limited Partnership, includes an anchor investment provided by the government of Israel, which also provided special economic terms through the initial tender process for the Fund.

OrbiMed Israel Partners is led by three full-time Israel-based partners, Dr. Nissim Darvish, Anat Naschitz and Erez Chimovits.

 OrbiMed Israel builds on OrbiMed’s longstanding investment interest in Israel, which has led to multiple investments over the past decade, including early-stage investments in Given Imaging and SuperDimension (acquired by Covidien).

Dr. Darvish, senior managing director at OrbiMed Israel, said the new fund invests in biotechnology, pharmaceutical, medical device and diagnostics companies at varying stages of maturity, from seed stage through growth equity. It already has made two investments: Keystone Heart, developing an embolic protection device for interventional cardiology procedures, and Otic Pharma, developing foam formulations for ear medication.

OrbiMed is dedicated exclusively to the life sciences sector, with approximately $6 billion in assets under management. It invests across pharmaceutical, biotechnology and medical device companies worldwide, with offices in New York City, Tel Aviv, San Francisco, Shanghai and Mumbai.

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