Healthcare fund manager ORI Capital has announced the first closing of a healthcare fund with a targeted size of $400 million. The new fund was unveiled just as ORI and its partners entered an agreement to sell their investment in British clinical-stage biopharmaceutical company Kymab in a deal worth up to $1.45 billion with French drugmaker Sanofi.
ORI, together with other exiting shareholders, will receive $1.1 billion in an upfront payment from Sanofi, and an additional amount of up to $350 million on achievement of certain milestones.
ORI Healthcare Fund, or ORI Fund I, and Hong Kong- and Shenzhen-listed Shenzhen Hepalink Pharmaceutical Group had in November...
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