VIRGINIA BEACH, Va.,
June 25, 2020 /PRNewswire/
-- New Ventures Funds, a venture fund targeting investments in
companies across healthcare and life sciences, is pleased to
announce the IPO of one of its portfolio companies, Royalty Pharma
(NASDAQ:RPRX). The company raised $2.18
billion through the sale of 77,681,670 of its Class A
ordinary shares priced at $28.00 per
share – the largest IPO of the year and the second biggest Pharma
listing ever. Principals of New Ventures were day-one investors in
Royalty Pharma and the New Ventures family of funds have invested
in Royalty Pharma since 2006.
Commenting on the announcement, Mark
Finn, General Partner said, "We are delighted with Royalty
Pharma's public debut and immensely proud of our more than
two-decade partnership with the company that has pioneered the drug
royalty market. We have and will continue to remain steadfast to
the guiding principles of our strategy of consistently seeking to
identify unique opportunities where significant value remains
unrealized in the healthcare, therapeutics, and digital medicine
space."
Royalty Pharma is the global leader in acquiring
biopharmaceutical royalties. Founded in 1996, the company has
executed $18 billion in drug royalty
transactions, with a portfolio consisting of 45 marketed drugs and
four developmental stage products. The company continues to fund
innovation and breakthroughs across the biopharmaceutical ecosystem
through collaborating with innovators from academic institutions,
research hospitals, and not-for-profits through small and mid-cap
biotechnology companies to leading global pharmaceutical
companies.
General Partner of New Ventures Funds and Royalty Pharma
Co-Founder, Rory Riggs, commenting
on the IPO and the healthcare industry: "We were an early investor
in Royalty Pharma. Their IPO is a significant event for our
investors. We cannot be more complimentary of RP's vision and
execution over the years. As the roles of the biotech industry and
the big pharmaceutical companies evolved, RP saw an important need
in the healthcare industry and filled it." Riggs added, "The
healthcare space is primed for innovation, disruption and
breakthrough; Royalty Pharma's successful IPO is testament to that.
Our team continues to operate with the ethos that meaningful value
is captured through longstanding partnership with companies that
have visionary leadership and are developing technologies and
services that usher in transformational change."
About New Ventures:
The New Ventures team is a group of co-founders, entrepreneurial
operators, and investors with collectively over 100 years of
experience and whose members have collaborated on various projects
together in the healthcare industry. The first fund launched in
2006, and since then the team has repeatedly created, invested in
and exited multiple companies in therapeutics, precision medicine,
diagnostics and various high impact technology verticals. Through
New Venture's deep understanding, the team can translate
transformational science into successful business ventures. New
Ventures understands science and technology breakthroughs needed to
achieve radical change, and because of that, the strategy focuses
on novel and unique innovations that have breakthrough potential.
To see more please visit: www.newventuresfunds.com
Contact:
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New Ventures
Funds
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William
Martin
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3500 Pacific
Ave.
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Investor
Relations
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Virginia Beach, VA,
23451
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w.martin@newventuresfunds.com
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Phone: (757)
491-1200
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SOURCE New Ventures Funds