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OrbiMed Closes $550 Million Fund

This article was originally published in Start Up

Executive Summary

OrbiMed Advisers just closed a $550 million fund, a tick more than its previous general fund and raised mostly from previous backers. OrbiMed’s general partners say they’ll make no radical departures from their previous formula despite the upheaval brought on by the recession and the federal health care reform saga.

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The dedicated health care fund says it will stick with its formula: half the fund into biopharma, the other half spread among devices, diagnostics, services, and information technology.

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