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Hot Life Science Investor Mandate 3: Angel Group Looking to Allocate to Companies Producing Pre-Revenue Devices & Orphan Therapeutics – February 12, 2013

11 Feb

An 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.

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Hot Life Science Investor Mandate 1: Evergreen Family Office Looking to Move on New Medtech Opportunities – February 5, 2013

5 Feb

A family office located in the Eastern US is currently looking for new companies in the medtech space. The firm, which has over $200 million in total assets under management, is specially looking for medical device companies, however has no specific preference in terms of what kind of device the company produces. They typically invest around $5 million in equity per company. Because the firm has an evergreen structure, there is no set timeframe to make an allocation, and thus the firm is always opportunistically sourcing new investment opportunities.

The firm primarily engages in buyout transactions, but does sometimes provide growth or venture capital to firms on a case-by-case basis. With that being, said the firm may consider a pre-revenue company that does not have a device currently on the market. The firm prefers companies that have under $100 million in revenue, and between $1.5 and $15 million in EBITDA. The firm invests in deals up to $75 million in transaction value.

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Hot Life Science Investor Mandate 2: PE Group Seeks Software Suppliers, Healthcare IT – February 5, 2013

5 Feb

A private equity group based in the Eastern US is currently looking for new investment opportunities in the life science space, and plans to invest in four firms throughout 2013. The firm currently has around $150 million in total assets under management, and is deploying capital from its third fund.

The firm is currently looking for new opportunities in the suppliers and engineering space as well as the service providers space. In the suppliers and engineering space, the firm is looking for software suppliers, and in the service provider space, the PEG would be most interested in healthcare IT firms.

The firm is looking to take at least a 60% equity stake in all future portfolio companies. Also, they will not invest in any pre-revenue companies, and consequently will only consider firms that currently have a product on the market. The PEG is looking for firms that have at least $1 million in EBITDA, and annual revenue within the $2-20 million range.

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Hot Life Science Investor Mandate 3: Large Pension’s PE Arm Targeting Small CROs for Add-On Acquisitions – February 5, 2013

5 Feb

A 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 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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Hot Life Science Investor Mandate 1: CROs, CMOs Prime Targets for Opportunistic PE – January 29, 2013

29 Jan

A healthcare investment firm based in the Eastern US, which runs both a private equity fund and a hedge fund, is currently looking for new investment opportunities for their second private equity fund, which recently closed at $200 million. The firm has more than $500 million in assets, and has raised two private equity funds and one hedge fund in the past year. They have plans to invest in 3-5 new firms by the end of 2013, typically making equity investments ranging from $10-25 million.

The firm is currently most interested in firms in the biotech R&D services and medtech space. Within biotech R&D services, the firm is looking for contract research organizations (CRO’s) and contract manufacturing organizations (CMO’s). They have also recently started looking for firms within the medtech space, specifically those that are producing medical devices. The firm mainly invests in US-based companies, but has allocated to international firms in the past; they would consider European firms on a case-by-case basis.

The firm provides growth equity, expansion capital, and engages in buyout and recapitalization transactions. The firm only invests in established, cash-flow-positive companies. With that being said, the firm will not consider any companies in the medtech space that do not currently have a device on the market.

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Hot Life Science Investor Mandate 2: VC Promises Fast Allocations – January 29, 2013

29 Jan

A venture capital fund in the Eastern US with around $20 million in total assets is currently looking for new opportunities in the life sciences space. The fund was created by its state legislature to promote economic growth. The organization has an evergreen structure, which means that they provide companies with incremental payments throughout the development phase of the product or company, rather than providing all of the capital to a firm upfront in one lump sum, which is the model that venture capital funds typically follow.

The fund, which is quasi-public, would allocate to a firm within the next six months if a compelling opportunity were identified. The firm’s typical investment size ranges from $300,000-500,000 per firm. Specifically, they are looking for medtech firms developing medical devices. The organization will allocate to firms that are pre-revenue, but the firm does need to have a prototype of the device. Additionally, they are interested in the healthcare/IT space.

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Hot Life Science Investor Mandate 3: Corporate Venture Fund Seeks Therapeutics with Companion Diagnostics – January 29, 2013

29 Jan

A corporate venture fund with offices worldwide – one of the oldest in the world – is interested in the biotech therapeutics and diagnostics space. The fund has invested more than $500 million in the life science space since its founding, has an evergreen structure, and deploys capital on an opportunistic basis, pulling money directly from their main fund as investment opportunities are uncovered. They typically invest in up to 10 firms per year, usually allocating $1-10 million per company.

The firm is most interested in novel therapeutics, and would be especially interested in therapeutics firms that are developing a therapeutic with a companion diagnostic. They are also very interested in small molecule-based therapeutics, as well as companies producing medical devices. The firm has a global investment mandate.

In terms of their interest in therapeutics, the firm is looking for companies whose products are in the preclinical, Phase I, or Phase IIb (proof-of-concept) stage of development, and for medical device companies, the firm will look at firms that have a product in development or companies that have a prototype of their product.

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