Vivo Capital has raised a whopping $635 million for a new biotech public company fund — pretty much perfect timing for an investment group with deep roots in the transpacific region and a big interest in IPOs and both small and mid-sized public companies.
The Vivo Opportunity Fund was oversubscribed, which may not come as too much of a surprise. The group has offices in Palo Alto, Beijing, Shanghai and Taipei and a track record that includes a long list of private and public biotech financings.
A quick check of the Endpoints digital files revealed some significant stakes in a range of newly public drug developers, including Menlo Therapeutics $MNLO, a big $110 million crossover round for Durham, NC-based Precision BioSciences, and participation in a $75 million private placement for MEI Pharma $MEIP in San Diego. One of its portfolio companies, Foamix, enjoyed a big spike yesterday evening on its latest acne data.
Vivo Capital clearly likes to play with others, and enjoys some close connections with a broad range of prominent biopharma investment groups. Managing Partner Frank Kung is one of the most visible team players in the group, which plays a big role in putting on the annual China Healthcare Investment Conference — the biggest of its kind in the booming Asian market.
The best place to read Endpoints News? In your inbox.
Comprehensive daily news report for those who discover, develop, and market drugs. Join 44,900+ biopharma pros who read Endpoints News by email every day.Free Subscription