OrbiMed Advisors Closes $300 Million Healthcare Venture Fund

<body.content> <block> <p>NEW YORK, Sept. 23 /PRNewswire/ — . OrbiMed Advisors LLC, an investment management firm focused solely on healthcare investing, today announced theclosing of Caduceus Private Investments II, LP and its parallel funds, which comprise a $300 million venture capital fund. OrbiMed elected to maintain a cap on the fund size at $300 million, despitebeing substantially oversubscribed. The closing of this fund brings active assets under management at OrbiMed to approximately $4.5 billion.</p> <p>The fund will focus primarily on drugdevelopment, drug discovery and medical device companies. The fund will be active at all stages of development, with a particular emphasis on mid-stage and later-stage private companies. The fund isexpected to be invested over a three to four year period with individual investments ranging from $5 million to $20 million. As the largest asset management firm dedicated to life sciences, OrbiMedexpects to be the lead investor in the companies in which it invests and takes an active, value-added role in helping management through board representation.</p> <p>The four generalpartners of OrbiMed are Samuel D. Isaly, Sven Borho, Dr. Carl Gordon and Dr. Michael Sheffery. The private equity team is led by Dr. Gordon and Dr. Sheffery, and includes Jonathan Silverstein, J.D.,Dr. Samuel Wertheimer and Dr. Robert Adelman. The private equity group is supported by the entire team of 15 investment professionals at OrbiMed, which constitutes one of the largest dedicatedhealthcare teams in the industry.</p> <p>OrbiMed invests across the entire spectrum of pharmaceutical and biotechnology companies on a worldwide basis. Investments are made in threedistinct strategies: mutual funds, hedge funds and private equity funds. OrbiMed’s investment team has been an active investor in private equity since 1993 and public equity since 1989. CaduceusPrivate Investments II is the second in a series of dedicated healthcare private equity funds managed by OrbiMed. The $275 million Caduceus Private Investments Fund, and parallel funds, closed in2000. Investors in both funds include a broad base of large institutions worldwide, including university endowments, foundations, pension plans and funds of funds. OrbiMed maintains offices in NewYork City. </p> <datasource>OrbiMed Advisors LLC</datasource> </block> <block class=”contact”> <p>CONTACT: Carter Neild of OrbiMed Advisors, LLC, +1-212-739-6469,Fax,<br/>+1-212-739-6444, <virtloc idsrc=”dummy” value=”dummy”>[email protected]</virtloc></p> </block> <block class=”website”> <p>Web site:<a>http://www.orbimed.com/</a> </p> </block> </body.content>