TPG has closed a $580 million life sciences fund for drug development startups, medical device makers and tech-enabled healthcare services companies.
The fund has already backed multiple biotechs, including antibody-drug conjugates maker MBrace Therapeutics, immunology startup Santa Ana Bio, TYK2 drug developer Sudo Biosciences and oncology-focused Bicara Therapeutics, among others.
Leading the fund’s investment team are partners Carolyn Ng, Shinichiro Fuse and Lucian Iancovici MD.
TPG's Life Sciences Innovation unveiling on Tuesday follows a $650 million fund at Goldman Sachs, a $500 million-plus fund at JP Morgan and about two dozen funds from biotech and life sciences specialists so far this year.
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