A not-for-profit government organization headquartered in Canada is currently looking for new projects in the life sciences space for their allocation round in the spring of 2013. The organization was granted investment funds through the Canadian government to promote research and advancement in the life science sector. The firm typically allocates from $1 million and into the tens of millions per project. They are looking for large-scale projects in the biotech R&D space that are developing products based on genomics.
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A mezzanine debt fund with offices across the US is currently focused on structured financings of commercialized biopharmaceutical products and medical technologies. The firm’s total AUM is approximately $400 Million. Collectively, the fund has completed more than 50 royalty transactions representing nearly $4 billion in capital over the past 15 years.
A private equity group based in the Eastern US is currently deploying funds from the firm’s fifth fund, which closed at over $500 million. The firm is currently looking for new firms in the life sciences space, and will allocate to around 10 new firms in 2013. The firm provides growth capital to firms, and also executes buyout transactions. Typically, they invest in middle-market companies that have an enterprise value ranging from $10-100, but their preference is firms with values in the $20-80 million range.
A private equity group based in Canada has around $500 million in assets, and is currently deploying capital from its fourth fund, which raised nearly $200 million. The firm is seeking greater exposure to the life sciences, and while they do not have a set timeframe to make allocations, the group would invest in a new firm within the next six months if a compelling opportunity were identified.
Hot Life Science Investor Mandate 3: VC Acquires Participation Rights for University Spinouts
15 AugA venture capital fund that has relationships with nearly 50 university partnerships has around $100M in assets, and acts very opportunistically within the life science space. The firm also acquires participation rights for university spinout companies.
About 70% of the VC’s life sciences investments are in therapeutics, 30% of which are distributed between devices, diagnostics, and discovery platforms. Currently, the firm is most interested in therapeutics, and is avoiding med-tech opportunities due to an internal perspective of unpredictability of the FDA’s activities in the med-tech space.
Though they do not have a strict mandate in terms of subsector or indication, therapeutics for oncology, cardiovascular, anti-inflammatories, and ophthalmology drugs have historically done well, and are favored by, the investment team.
The VC does not have a specific timeline for allocation, and will make investments as opportunities arise. Typically, they will invest $500K – $1.5MM initially and reserve 1-3x initial invested capital for follow-on rounds, however the firm is comfortable investing broadly across stage, from seed to late stage, and will selectively invest $100K – $250K in angel rounds on an opportunistic basis. The firm prefers to be a co-investor alongside other firms or syndicates, and lays significant value on investing alongside notable “top-tier” firms.
Hot Life Science Investor Mandate 1: Mezzanine Debt Fund Looking to Invest Directly in Healthcare, Research Institutions
9 AugThe fund is heavily invested in healthcare investing that focuses on IP investments in FDA-approved biopharmaceutical assets through royalty bonds, structured debt, revenue interests and traditional royalty monetization. Typically, they target investments between $20 and $200 million and work directly with leading healthcare companies and research institutions.
Typical financings are intended to healthcare organizations fund pipeline development, make acquisitions, and expand into new markets—all with an adaptable source of capital. The firm’s primary source of collateral is derived from commercialized products.
Hot Life Science Investor Mandate 2: Eastern US-Based PE Interested in Deploying Funds to CROs, CMOs
9 AugThe firm is most interested in biotech companies in the R&D services space, and is most interested in contract manufacturing organizations (CMOs), as well as contract research organizations (CROs). The PE is also seeking firms in the suppliers and engineering space and is looking for firms that are producing reagents.
Hot Life Science Investor Mandate 3: PE Provides Secure Venture Debt Loans to Medtech
9 AugThe PE provides secured venture debt loans ranging from $2-15 million and has the ability to syndicate loans as large as $30 million for public companies. They are most interested in medical technology firms that are developing medical devices. The firm will only consider medtech companies that have products that are currently on the market. The firm will consider both US- and Canadian-based firms. The firm only considers funds that have at least $5 million in revenue, and will consider both private and public firms.
Hot Life Science Investor Mandate 1: Angel Group Looking to Allocate to Companies Producing Pre-Revenue Devices & Orphan Therapeutics
1 AugAn angel group based in the Eastern US is currently deploying capital from its third fund. With around $15 million in total assets under management, they are looking for new opportunities within the life science space, but have no set timeline to make allocations. The group typically allocates between $250,000 and $2 million per company.
Currently, the angel group is most interested in the biotech therapeutics and medtech space, specifically only those that are targeting orphan indications. The group will not consider therapeutics and diagnostics that are treating any other indications due to the difficulty of the current FDA regulatory framework.
The angel group is currently looking for pre-revenue companies within the life science space. With that being said, they would consider companies in the biotech therapeutics space that have products in the preclinical stage through phase III of development, and in the medtech space the firm is looking for companies that have a product in development, or have a prototype. With that being said, the firm is looking to provide seed capital to privately held, early stage firms.
Hot Life Science Investor Mandate 2: PE Arm of Pension Fund Seeks Add-on Acquisitions
1 AugA private equity investment arm of a pension plan located in Canada, which has over $100 billion in total assets under management, is looking for new opportunities in the life science sector, and is currently targeting add-on acquisition targets for one of the firm’s portfolio companies. The pension’s equity investment size will vary depending on the size of the add-on target, however the firm is looking to acquire a strategic partner for their portfolio company as soon as possible.
The PE arm is currently looking for firms in the biotech R&D services sector. More specifically, they are seeking small, clinical-focused contract research organizations (CROs), and are most interested in firms that specialize in the areas of cardiology and endocrinology. The fund already has a good deal of exposure to clinical CRO’s that specialize in the oncology space, and thus would not be interested in investing in a company with exposure to that area.
The fund is currently only seeking firms for acquisition, and thus is only looking for firms that are interested in a buyout or recapitalization transaction. The pension is seeking firms that have around $2-5 million in EBITDA.
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