The main categories for capital investments include commercial stage biopharmaceutical and medical device companies in need of growth capital, and universities/inventors looking to monetize product interests.

Cowen Healthcare Royalty Partners, an investment firm for life sciences royalties, has raised $1bn for its second fund.

Cowen Royalty will target investments between $20m and $100 in US, Europe and Asian passive royalties, synthetic royalties and structured financings.

The main categories for capital investments include commercial stage biopharmaceutical and medical device companies in need of growth capital, and universities/inventors looking to monetize product interests.

Todd Davis, founder of Cowen Royalty, said: "Increased demand for alternatives to traditional debt…