BRIEF — Edmond De Rothschild Investment Partners closes 345 million euros BioDiscovery 5 fund

BioDiscovery, a leading global investor in biotechnology and medical devices managed by Edmond De Rothschild Investment Partners, has closed the subscription period to its fifth fund, raising 345 million euros ($430 million).

BioDiscovery 5 surpassed its initial target of 250 million euros, making it the largest life science and medical device venture fund to be raised in Europe. Investors comprise mainly funds of funds, insurance and health insurance companies and pension funds.

Investments will go to companies in the biotech and medical devices fields across Europe and the USA, adding to the 800 million euros that has been invested by the four previous BioDiscovery funds.