Ralph Hamers, UBS CEO (Walter Bieri/Keystone via AP Images)

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.

Endpoints News

Unlock this article instantly by becoming a free subscriber.

You’ll get access to free articles each month, plus you can customize what newsletters get delivered to your inbox each week, including breaking news.