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Hot Life Science Investor Mandate 2: Venture Fund Plans to Make Opportunistic Allocations Over 1st Half of 2013 – February 27, 2013

26 Feb

A venture fund headquartered in the Eastern US, which specializes in early stage opportunities in med-tech, diagnostics, and instruments, currently has an AUM of more than $30 million. Typically, the firm initially invests in a start-up at the early stage, but reserves capital for participation later on. First investments are usually in the range of $1-3 million, but they are open to making larger or smaller allocations as opportunities arise.

The firm expects to invest a total in the range of $10 million in a given portfolio company as it makes progress toward a successful exit. They prefer to be the lead investor in any deals that they engage in, and plan to make several allocations on an opportunistic basis over the first half of 2013.

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Hot Life Science Investor Mandate 3: PE Group Interested in Analytical Services, CROs for Upcoming Investments – February 27, 2013

26 Feb

A private equity group based in the Eastern US has over $250 million in total assets under management, has raised three funds, and is currently looking for new investment opportunities in the life sciences space. While the firm has no set time frame to make an investment, they would allocate to a firm within the next 3-6 months if a compelling opportunity were identified. The group typically invests around $5-20 million per company.

Currently, they are looking for firms within the R&D services space. The firm is most interested in analytical services companies, as well as contract research organizations (CROs) that specialize in toxicology, however would consider other companies that fall within the umbrella of the biotech R&D services space as well.

This PE group executes recapitalization, growth equity, and buyout transactions. The firm is only interested in companies that are cash flow positive. With that being said, the firm is looking for firms whose EBITDA is in the $1-10 million range, and has annual revenue that does not exceed $75 million.

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Hot Life Science Investor Mandate 1: Venture Arm of Large Organization to Invest in at Least Two New Firms in 2013 – February 20, 2013

20 Feb

The venture arm of a larger organization based in the Western US is currently looking for new companies in the life science space to invest in, and anticipates on investing in at least two new firms this year. The firm has an evergreen structure, meaning that funds come directly from its parent organization, and can be deployed as needed. The arm was allotted around $5 million in 2013 for new investments, and typically makes equity investments ranging from $500,000 to $3 million.

The firm is currently looking for companies in the biotech therapeutics space, and are especially interested in companies that are developing therapeutics that treat diseases that fall within the realm of neuromuscular diseases, of which there about 40.

They will invest in firms anywhere in the world, but primarily only in pre-revenue companies. That being said, they have no criteria in terms of revenue or EBITDA. The firm will invest in companies that have products ranging from proof of concept in phase I to phase III.

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Hot Life Science Investor Mandate 2: VC Fund Ready to Invest in Medtech Space in Coming Months – February 20, 2013

20 Feb

A venture capital firm based in the Midwestern US with $254 million in total assets under management is currently looking for new opportunities in the life sciences space. While the firm has no set timeframe to make an allocation, they would invest in a company within the next few quarters if a compelling opportunity were uncovered. The firm typically writes equity checks in the $5-35 million equity range. They have raised four funds in the past.

The firm is currently most interested in the medtech space, and is specifically looking for companies developing medical devices. Specifically, they are looking for firms in the neurology, cardiology, pulmonology, hearing, and wound-care spaces. The firm also has a particular interest in companies developing disposable devices.

Their goal is to bridge the gap between venture capital and growth equity. With that being said, the firm will consider both pre-revenue firms, and firms that are cash-flow-positive with products on the market. For companies that have devices already on the market, the firm looks for revenue in the range of $20-30 per annum. For companies that are pre-revenue, the firm will only invest in phase II or later.

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Hot Life Science Investor Mandate 3: PE Group with Available Dry Powder Seeks CROs – February 20, 2013

20 Feb

A private equity group with offices in the US and Canada recently closed its 3rd fund at around $300 million, and is seeking new life science firms to invest in. The group currently has over $500 million in total assets under management. Although they have no set timeframe to make allocations, they do have a good amount of dry powder on hand, and would make an allocation within the next couple of quarters if a compelling opportunity were identified. They typically write equity checks ranging from $10 million to $30 million.

Currently, the group is most interested in the medtech and biotech R&D services space. Within the medtech space, the firm is very opportunistic, and will look at companies that are developing any kind of device. Within the biotech R&D services space, the firm is particularly seeking partnerships with contract research organizations (CROs).

The group executes recapitalization, growth equity, and buyout transactions. They are currently only looking for companies that have products on the market within the medtech space, and in the biotech R&D sector, they prefer companies that are cash-flow positive. With that being said, the firm is looking for firms whose EBITDA exceeds $4 million.

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Hot Life Science Investor Mandate 1: UK-Based Tech Transfer Office Seeks New Therapeutics & Diagnostics – February 12, 2013

11 Feb

A technology transfer office based in the UK is currently looking for new investment opportunities in the life science space. The firm currently invests capital in companies based outside of its parent organization, and therefore anticipates investing in around eight companies by the end of 2013. They typically allocate between £20,000 and £20 million per firm. Because institutional shareholders back the firm, they have an evergreen structure, and can deploy capital as soon as a compelling opportunity is identified.

The office is currently most interested in firms in the biotech space, specifically investing in biotech therapeutic and diagnostic firms. They have no particular preference in terms of what indication the company’s product is targeting, and will invest in firms that have products targeting orphan indications.

Investing in both pre-revenue companies, and companies that have positive cash flow, the office will consider firms with products in the preclinical phase of development all the way through to firms that have a product on the market. They have no strict criteria in terms of revenue and EBITDA for cash flow positive companies.

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Hot Life Science Investor Mandate 2: VC Fund with lots of Dry Powder Seeks Firms in the Genomics Space – February 12, 2013

11 Feb

A venture capital fund with offices in the US and abroad is currently deploying capital from its third fund, which raised around $400 million. The firm was founded in 2001 and currently has nearly $1 billion in assets under management. The firm, which is currently looking for new opportunities in the life science space, has no set time frame to make an allocation, but has a lot of dry powder on hand, and would invest in a company within the next two quarters if a compelling opportunity was identified. The group invests up to $10 million in equity per firm.

The firm is currently most interested in the biotech R&D services and medtech space. Within the R&D services space, the firm is interested in genomics and diagnostic instrumentation. They also invest in companies within the medtech space, and will look at the full spectrum in that space. The firm will not consider any companies within the biotech therapeutics space due to the long time to market for these products.

Currently, the firm is only looking for early-stage pre-revenue companies. With that being said, the firm will not consider medical device companies that currently have a product on the market. The firm provides seed stage and growth capital, and typically takes a minority position (less than 50%) in their portfolio companies, but does usually take a board seat.

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