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Orbimed leads $30m Intercept Pharmaceuticals financing

13 Aug 2012

Healthcare investment firm Orbimed Advisors has led a $30m financing round for liver disease therapy provider Intercept Pharmaceuticals.

Existing investor Genextra also took part in the funding round, which will see Orbimed’s Jonathan Silverstein and Klaus Veitinger join the board of directors.

The company provides clinical-stage biopharmaceuticals to treat chronic forms of liver disease, and said it plans to use the financing to advance its lead compound.

Orbimed closed its first Israeli life sciences venture fund on $220m in April thanks to an anchor investment from the country’s government.

OrbiMed Israel Partners will be led by three full-time Israel-based partners who will work with the firm’s global private equity co-heads Carl Gordon and Silverstein.

Silverstein said the fund built on OrbiMed’s longstanding investment in Israel, which includes early-stage investments in medical diagnosis companies Given Imaging and SuperDimension.

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