UBS wants to make an 'impact' with a new fund, shelling out $650M to join MPM
Swiss banking company UBS jumped into the deep end of biotech fundraising Wednesday, ponying up more than half a billion dollars toward new “impact” investments.
UBS contributed $650 million to MPM Capital’s second impact fund focused around oncology, the bank said Wednesday morning, making up the vast majority of MPM’s $850 million new fund. The bank claims that the total sum marks the biggest impact investment fund the biotech sector has ever seen.
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