OrbiMed $500 million venture capital fund to invest in private life science companies

By Lisa Kerner

Erie, Pa., April 27 - OrbiMed Advisors LLC said it closed Caduceus Private Investments III, LP with $500 million in limited partner commitments.

CPI III will invest primarily in U.S. mid- and late-stage private life science companies engaged in the discovery and development of biopharmaceutical products or medical technologies, according to a company news release.

OrbiMed said the fund is expected to be invested over a four- to six-year period with individual investments ranging from $12 million to $50 million.

The 21-member OrbiMed team is led by general partners Samuel D. Isaly, Sven H. Borho, Carl L. Gordon, Michael B. Sheffery and Jonathan T. Silverstein.

New York City-based OrbiMed is a health care asset management firm with more than $6 billion in assets under management.

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