Early-stage biotech investor 5AM ready to roll on new fund worth $250m.

California-based investor 5AM Ventures has raised its fourth round, worth $250m, with early-stage biotechs in its crosshairs.

The company is looking to back around 15 companies seeking series A funding with the war chest, following a similar fund for $159.2m raised in 2009.

The venture investor has been active in backing university spin-outs, notably Yale biotech Arvinas in September in a $15m round, and Caltech spin-out Cleave Biosciences in 2011, which also attracted investment from university venture consortium Osage University…

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