Good news for all new biotech startups out there! Managing partner and CEO of Flagship Ventures, Noubar Afeyan has announced that its life sciences funds, Fund IV has surpassed its $250 million goal and could reach $270 million. This announcement will be good news to biotech industry given the gloomy financial constraint that has been affecting the industry lately.
Flagship Ventures is one of the key investors in early stage R&D biotech industry. The company is well known to many of the industry’s highest profile entrepreneurs, particularly the risk-takers in the academic community working on cutting-edge approaches to medicine. Its life sciences funds have backed biotech companies in the past which have a new approach to a mechanism of action or a platform that can deliver multiple drug products.
This good news will definitely be a timely tonic for biotech industry especially Asian biotech companies as the industry on the continent rapidly grows. More pharma partnering and investment involving biotech firms will be foreseeable in the near future. The BioPharma Asia 2012 will provide the ideal platform for biotech companies especially those in Asia to communicate, cooperate and collaborate to achieve this. It will also be a good opportunity to learn about Pharma Partnering and Investment in Asia by hearing from notable speakers such as Helmut Haning, SVP from Bayer, Paul Bolno, VP from GlaxoSmithKline and Anders Ekblom, SVP from AstraZeneca, so do sign up for this event if you are interested!
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See you at Pharma Partnering and Investments Asia 2012 in March.