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Hot Life Science Investor Mandate 1: Family Office with Ability to Quickly Deploy Capital Seeks Medical Device Opportunities – March 14, 2013

12 Mar

A single-family office based in the Eastern US that was established in order to identify investment opportunities on behalf of its founding family is currently managing over $1 billion in total assets, and is looking for new investment opportunities in the life science space. The firm has no set time frame to make an allocation, but would invest in a firm within the next 3-6 months if a compelling opportunity were identified. Because the firm is backed by the founding family and is not a typical fund that must go through the fundraising cycle, they have the ability to deploy capital as soon as an opportunity is sourced. The firm typically makes initial investments in the $500,000 to $1 million range.

The firm is currently most interested in companies in the medical technology space, but has no specific area of interest within it, and thus would be open to considering any kind of medical device.

The family office typically provides growth equity to firms right after they have received their Series A round. They prefer firms that have a pre-money valuation ranging from $3-5 million, and that the firm has a prototype of the device. The family office has a long-term investment horizon, and likes to hold companies in their portfolio for much longer than a typical private equity firm.

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Hot Life Science Investor Mandate 2: European VC Interested in Wide Range of Biotech & Medtech Opportunities – March 14, 2013

12 Mar

A venture capital fund based in Denmark has over €700 million in total assets under management, and has raised three funds. The firm is currently deploying assets from its third fund, which closed in 2011. The third fund’s portfolio currently consists of four companies. They are unsure of how many transactions they will execute in 2013, but aim to have ten to twelve companies in their portfolio for their third fund, and thus would invest in a firm over the next few quarters if a compelling opportunity is identified. Their typical equity check ranges from €6-10 million.

The firm is looking for companies in the biotech therapeutics & diagnostics space, and the medtech space. The fund invests in both therapeutics & diagnostics, and will consider the full gamut of subsectors and indications within the biotech therapeutics and diagnostics, as well as in the medtech space.

The VC invests in pre-revenue, early stage companies. With that being said, they are solely looking for companies that do not currently have a product on the market. In the biotech therapeutics and diagnostics space, the firm typically prefers to invest in companies one year prior to the firm starting their phase I clinical trials. In the medtech space, the firm looks for companies that have a prototype of their device.

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Hot Life Science Investor Mandate 3: Private Equity Fund Targets Contract Organizations for 2013 – March 14, 2013

12 Mar

A private equity fund based in the Eastern US has around $200 million in total assets under management, has raised three funds, and is currently allocating capital from its third fund to new investment opportunities. They are currently looking for new opportunities in the life science space, and anticipate on investing in 4-6 firms in 2013. The firm typically writes equity checks ranging from $15-50 million.

The PE fund is currently most interested in firms within the biotech R&D space. Specifically, they are looking for contract research organizations (CROs) and contract manufacturing organizations (CMOs). The firm also invests in the medical device space, but prefers firms that are manufacturing low-technology products. The firm is agnostic in terms of where the firm is based, however the majority of the firm’s current portfolio companies are based in the US.

The firm engages in leveraged buyouts, recapitalizations, and growth financing. Typically, they work with companies whose enterprise value ranges from $25 to $300 million, and are looking for firms that have at least $5 million in EBITDA. However, the PEG has been involved in co-investment tractions with enterprise values exceeding $1 billion. With that being said, they will only consider medical device companies that have products that are on the market, and would not consider a pre-revenue medtech firm. The firm invests in both public and private companies.

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Hot Life Science Investor Mandate 1: Mezzanine Debt Fund Focused on Intellectual Property Investments – March 7, 2013

6 Mar

A mezzanine debt fund with offices in the United States is focused on structured financings of commercialized biopharmaceutical products and medical technologies. The firm’s total AUM is approximately $400 Million. They have collectively completed more than 50 royalty transactions representing more than $3 billion in capital over the past 15 years.

The fund is heavily invested in healthcare investing that focuses on intellectual property investments in FDA-approved biopharmaceutical assets through royalty bonds, structured debt, revenue interests and traditional royalty monetization. The firm targets 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.

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Hot Life Science Investor Mandate 2: Government Organization has $2b to Promote Sustainable Tech Developments – March 7, 2013

6 Mar

A foundation that was created by the government of Canada in order to provide funding for technologies that promote sustainable development has been provided nearly $2 billion in assets by the Canadian government in order to further this mission. The foundation is registered as a non-profit, non-share capital corporation under the Canada Business Corporations Act. The government foundation has two funds, which have allocated over $1 billion together.

The firm is currently looking for new firms in the life sciences space for potential allocations; and although they do not have a set number of firms they wish to allocate to over the next six to nine months, they typically will provide capital to around 20 firms annually. With that being said, they will allocate to a number of firms over the next 6-9 months if some compelling opportunities are uncovered.

The foundation typically invests around $2-3 million per firm, but has allocated as little as $500,000 and as much as $40 million in the past. They are currently most interested in the biotech space, specifically in firms focused on environmental biotechnology. In particular, the firm is seeking firms that are developing anti-pollution or waste remediation technologies. The firm is only looking for firms that are pre-revenue, and thus provide seed funding to these firms.

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Hot Life Science Investor Mandate 3: VC Group has Interest in CMOs, CROs – March 7, 2013

6 Mar

A venture capital group based in the Eastern US has around $200 million in assets, and is currently deploying capital from the firm’s second fund, which has $100+ million in assets. They are currently looking for new investment opportunities in the life sciences space, and plan to invest in 2-3 new firms within the next six to nine months. The firm allocates $3-10 million and the majority of the group’s investments are in the $5-7 million range.

The firm is most interested in biotech R&D services firms, and is seeking contract manufacturing organizations (CMOs) and contract research organizations (CROs). The firm is looking for biotech firm’s whose primary customer base is biotech therapeutic and diagnostic firms as well as pharmaceutical companies. The firm prefers companies that have at least $2 million in revenue, but prefers firms in the $5-30 million range. The firm solely invests in privately owned firms.

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Hot Life Science Investor Mandate 1: Highly Active Seed-Stage Investor Looking for New Opportunities – February 27, 2013

26 Feb

A seed-stage investor focused on companies with strong growth potential across a range of technology sectors is part of an initiative of its state department of community and economic development. Located in the Eastern US, the organization’s primary mandate is to help develop technologies that will develop new markets and job growth.

The firm is one of the most active seed-stage companies in the country. Since the launch of its seed fund 12 years ago, the firm has invested more than $50 million in over 150 companies that have gone on to raise more than $1.2 billion in follow-on financing. Over recent years, total annual investment in its portfolio has been trending upward, with over $200 million in allocate AUM.

The organization does not have a clearly defined preference for any sector within life sciences, and will make allocations to companies developing therapeutics, diagnostics, medical devices or providing R&D, IT, or regulatory services. It does not discriminate on the basis of indication, but does have a stated interest in orphan indications. Though there is not a specific phase preference for companies developing drugs, most allocations in that area are made to firms developing preclinical stage compounds.

The organization plans to allocate across roughly 15 seed stage life sciences companies over the next several months, in allocation sizes between $250K and $500K.

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