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OrbiMed launches $600 million royalty fund

Thursday, September 1, 2011 10:53 AM

OrbiMed, an investment management firm focused on the healthcare sector, has reported the final closing of a new fund that acquires healthcare royalty streams and provides structured debt capital to healthcare companies. The fund, the "Royalty Opportunities S.ar.l.,” is domiciled in Luxembourg and will invest worldwide to take advantage of OrbiMed's global platform. Investors in the $600 million fund include some of the largest endowments, foundations and financial institutions globally.

OrbiMed has dedicated significant resources and personnel to support the new fund, including three OrbiMed partners, Samuel D. Isaly, Sven H. Borho and W. Carter Neild, along with a team of four professionals: Tadd S. Wessel, Matthew S. Rizzo, Matthew L. Wotiz and J. Christopher LiPuma.

"Life sciences companies are typically dependent on equity markets to raise new capital," observed Tadd Wessel, a managing director on the Royalty Opportunities team. "With this fund, OrbiMed can offer a minimally dilutive capital alternative to fund product launches, M&A opportunities, new product research, and general corporate purposes."

"We welcome the opportunity to discuss with owners of royalty streams the potential to monetize those future cash flows in order to meet their financial objectives, from companies seeking to increase R&D, research institutions seeking new facilities, or individual inventors seeking liquidity," noted Matthew Rizzo, also a managing director on the Royalty team.

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