Investment

Deal of the Week: Family co-invest group works with biotech fund

The coronavirus has focused investors attention on biotech/healthcare. Family Capital’s Deal of the Week reflects this trend, and for the third week in a row, we are highlighting another deal in the sector. 

MSD Partners, the co-investment part of Michael Dell’s MSD Capital, which invests with other wealthy families, together with  Florida-based investment group, F1 BioVentures, have invested in EXUMA Biotech. The Florida-based biotech group is developing so-called chimeric antigen receptor (CAR)-T cell treatments for solid tumours. 

MSD Partners together with F1 BioVentures ploughed $19 million into EXUMA. FI BioVentures is an investment group set up by Gregory Frost. The biochemist and entrepreneur also set up EXUMA, where he is CEO and chairman. 

Frost co-founded Halozyme Therapeutics back in the late 1990s. It when public in 2004 and Frost left the oncology-focused biotech ten years later. He set up F1 BioVentures and EXUMA shortly afterwards. 

EXUMA has offices in West Palm Beach, the Cayman Islands, and Shanghai. It’s also backed by a China-based biotech group. 

Last week, Family Capital reported on Koch Disruptive Technologies investing in InSightec, which is developing non-invasive surgery. The week before the Deal of the Week was Wu Capital’s investment in Akouos, which is using gene therapy to restoring and preserving hearing. 

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