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.
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