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Advent Venture Raises $120 Million for First Life Sciences Fund

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Nov. 24 (Bloomberg) -- Advent Venture Partners LLP, a London-based investment firm, has raised $120 million for its first life science fund.

The fund will invest in early- to mid-stage life science companies in the U.K., Europe and U.S. and will be managed by partners Shahzad Malik and Raj Parekh, Advent said in an e-mailed statement today.

Advent has invested in PowderMed, which was bought by Pfizer Inc.; Thiakis, which was purchased by Wyeth, and Respivert, which was bought by Johnson & Johnson.

To contact the reporter on this story: Chris Kay in London at ckay5@bloomberg.net

To contact the editors responsible for this story: Phil Serafino at pserafino@bloomberg.net

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