Biotech Investment Group, Longitude Venture Partners, Pulls in More Than $331 Million
9/14/2012 8:27:27 AM
Here’s another name to add to the list of life science-focused venture firms raising or closing funds over $100 million this year: Longitude Venture Partners. The VC firm that specializes in medical device, biotechnology, diagnostics and R&D tools investment revealed in a U.S. Securities and Exchange Commission filing last week that it has raised more than $331 million for a second fund and could continue raising up to $375 million. A partner at the firm was not available to comment. Attractive deals for Longitude are with companies developing clinically and cost-effective treatments for unmet medical needs, and platform technologies that facilitate novel product development, the firm says on its website. It gives preference to early stage medical device and mature biotechnology companies, but will invest in companies at any stage with an average investment of $10 million to $30 million total.