NEW YORK, April 8, 2019 /PRNewswire/ -- The RMGP Biopharma Investment Fund commenced operations immediately following the initial closing in May 2017. To date, its portfolio consists of 11 companies, representing investments in both seed and follow-on rounds, including the recent BiomX Series B financing. The BiomX financing illustrates RMG's ability to support continued investment in FutuRx companies at more advanced stages of development.
Yaron Breski, a Partner at RMG, noted "The fund's work alongside OrbiMed, a world leader in life science investments, and together with two of the largest pharmaceutical companies worldwide – Johnson & Johnson and Takeda – has presented an excellent value opportunity to investors interested in exposure to the biopharma field in Israel. That institutional and strategic investors from the U.S., Europe and Israel have joined existing and new investors from South Korea, represents an important vote of international confidence in RMG's efforts. We thank those investors and continue to focus our efforts toward FutuRx and its partners' work in developing breakthrough biopharmaceuticals therapeutics."
Dr. Kinneret Savitzky, CEO of the FutuRx biotech incubator, commented, "Our nearly two years of successful cooperation with RMG has resulted in more than ten investments into the FutuRx portfolio and increasing strength in the incubator's provision of key resources and support to its portfolio companies. Moreover, the collaboration with RMG and its international financial and strategic investors provides important validation of the FutuRx model and its potential to develop innovative therapeutics."
About RMGP Biopharma Investment Fund
RMGP Biopharma Investment Fund is a $64M fund managed by RM Global (RMG) dedicated to investing in innovative life science technologies with a global perspective. RMGP's portfolio is focused on biotherapeutics developed within the Israel-based FutuRx incubator, established by OrbiMed Israel, Johnson & Johnson Innovation, and Takeda Ventures – in cooperation with the Israel Innovation Authority (IIA)
About RM Global (RMG)
RMG is an investment banking, fund management, and strategic advisory firm dedicated to fostering distinctive opportunities for its clients and investors. Specializing in life sciences, including biotech and medtech, and with a track record of over 27 years, RMG has deep domain expertise and a robust global network that helps drive the success of its innovative client companies in the Americas, Europe, Israel, and Asia. See www.rmglobal.com
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