Carey Olsen, together with Northern Trust, have supported venture capital firm Pureos Bioventures on the successful launch and final close of its first fund, BB Pureos Bioventures LP (Pureos), with commitments of USD205 million.

Pureos, which exceeded its initial fundraising target after securing support from pharmaceutical and biotech companies, family offices, pension funds, fund-of-funds, a large contract manufacturer and other institutional investors, will invest globally but have a primary focus on Switzerland and Europe. It will invest in innovative private drug development companies with an emphasis on novel biological drugs and emerging modalities such as nucleic acid, cell and gene therapies.

Acting as lead counsel, the Carey Olsen team advising Pureos Bioventures on all legal and regulatory aspects of the fund’s launch as a Guernsey-domiciled closed-ended fund was led by partner Ben Morgan, assisted by senior associate James Cooke.

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