Goldman Sachs Asset Management said Wednesday it has raised $650 million for a new fund that will invest in life sciences startups. Reuters writes about this.
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What is known
The West Street Life Sciences I Fund will specifically target early and mid-stage therapeutics companies with a diversified portfolio of assets, as well as companies engaged in development of tools and diagnostics.
“Life sciences are one of the most exciting areas of private investing as technological advances transform healthcare at an unprecedented pace,” said Mark Nachmann, global head of wealth management at Goldman Sachs.
Goldman said Life Sciences I has already committed about $90 million to five companies, including cancer drug maker Nested Therapeutics and precision medicine firm MOMA Therapeutics.