RMG enlarges FutuRx fund to $64m

Apr 10, 2019 • Jack Hammond

RMGP Biopharma Investment Fund has added $34m to reach a final close for a vehicle that will back startups developed by the Johnson & Johnson and Takeda-backed FutuRx incubator.

US-headquartered investment banking firm RM Global (RMG) closed a $64m fund on Monday designed to support Israel-based, corporate-backed biopharmaceutical incubator FuturRx.

RMGP Biopharma Investment Fund reached its $30m first close in May 2017 but has added additional capital from institutional, family office and strategic life science investors from South Korea, the US, Europe and Israel to reach a final close.

Johnson & Johnson Innovation – JJDC and Takeda Ventures, the corporate venturing subsidiaries of pharmaceutical firms Johnson & Johnson…

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