OrbiMed doubling down on Asia biotech bets with $450M fund
Over the last nine years OrbiMed has gathered more than a half billion dollars earmarked for its Asia group’s life sciences investments. And now it’s doubling down, shooting for a record $450 million fund that could easily take the total above $1 billion.
OrbiMed Asia disclosed its interest in the new fund in a filing with the SEC, a little more than two years after grabbing $325 million for its second fund. Recent investments include CBT Pharmaceuticals, led by CEO Sanjeev Redkar, which is working on checkpoint inhibitors. OrbiMed also participated in the $100 million round for Shanghai-based Zai Lab early last year. Earlier rounds supported Shasun — merged into Strides Shasun — and Mumbai-based Bharat Serums.
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