Washington Business Journal by Tucker Echols, Broadcast/Web Reporter
MedImmune Ventures, the venture capital arm of Gaithersburg-based MedImmune, has secured $100 million in funding from MedImmune's parent AstraZenca.
“We continue to support MedImmune Ventures' strategy that combines commitment to advance science and technology in the life science industry while generating financial returns expected of venture capital funds,” said AstraZeneca Chief Financial Officer Simon Lowth.
The capital raise brings MedImmune Ventures' total capital under management to $400 million.
MedImmune Ventures, which focuses on equity investments in private companies in the areas of biopharmaceuticals, medical and healthcare technology, has been active recently, co-leading the second round of financing for NeuProtect Pty Ltd, an Australian life science company specialised in the reduction of cardiac remodelling post myocardial infarction. The other co-leader in the round was Starfish Ventures.