Billions for biotech: Oberland boosts biotech fund-raising past the $5B mark in a matter of weeks
Nobody appreciates nabbing a sweet late-stage investment deal more than the Oberland Capital team.
Operating in a highly competitive field, the group backed John Hood’s successful comeback play for fedratinib, offering up to $90 million a few years ago to get the application together. There was cash for Esperion in the lead-up to its commercialization work. A royalty deal pinned by GSK’s shingles vaccine helped Agenus along.
Now there’s an extra $1 billion-plus for more of these kinds of deals.
The raise for Oberland Capital Healthcare Solutions Fund and affiliated funds (#3) weighed in at $1.05 billion, which was oversubscribed — a common sight over the last couple of months.
The pandemic has done nothing to slow the rollout of new funds. Quite to the contrary. In recent weeks we’ve seen major rollouts from Venrock, Flagship, ARCH, Deerfield and venBio — all now joining with Oberland to add up to well over $5 billion.
Oberland is headed by J&J vet Jean-Pierre Naegeli and managing partner Andrew Rubinstein. They both came over from Paul Capital.