MPM Capital has closed an oversubscribed $400m life sciences venture fund that counts Novartis and Astellas among its limited partners.
Pharmaceutical companies Novartis and Astellas have invested in US-based venture capital firm MPM Capital’s $400m, the Boston Business Journal reported yesterday.
MPM initially hoped to raise $380m, but capped the fund at $400m when it became oversubscribed. The fund, MPM BioVentures 2014, is the firm’s sixth and will invest in life sciences startups. MPM Capital now has more than $3bn under management.
Companies it has funded include Ipierian, which developed treatments for neurodegenerative diseases and was acquired by Bristol-Myers Squibb…
