NovaQuest Capital Management, the corporate venturing unit which was spun off from US-based healthcare provider Quintiles Transnational in 2010, has raised $80 million for a new fund, NovaQuest Co- Investment Fund I, LP, according to a regulatory filing on 3 May. Novaquest’s existing fund, NovaQuest Pharma Opportunities Fund III, LP, launched in November 2010, had raised $426.1m against its $500m target offering, as of its latest regulatory filing on 14 November 2012. In the most recent investment for the fund, announced on January 31, 2012, NovaQuest agreed with pharmaceutical company Pharmaxis to invest up to $40m to support the development, manufacturing and commercialisation of its Bronchitol formulation for alleviating cystic fibrosis in the EU and US. NovaQuest, established by Quintiles in 2006, invests in late-stage clinical assets and commercial-phase biopharmaceutical products.
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NovaQuest raises $80m fund
May 14, 2013 • Quentin Carruthers
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