$167 million investment fund to focus on biopharma services
A new life science-based fund from NewVale Capital, an American equity firm, has raised $167 million for its debut fund.
The money will be used to “accelerate the growth of proven pharmaceutical services companies that play an essential role in bringing medicines to patients,” the firm said.
Recent major fundraisings for investment in the life sciences have been significant, despite a challenging economic environment, and include Goldman Sachs' first dedicated fund in this sector, West Street Life Sciences I, which took in $650 million.
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