OrbiMed Advisors, a healthcare investment firm in New York, has brought in $203 million for its one-year-old OrbiMed Israel Partners fund—including $40 million from the Israeli government, according to VentureWire. OrbiMed will use the fund to back 15-20 Israeli startups, OrbiMed general partner Jonathan Silverstein told VentureWire. The fund’s first big move is a $10.5 million investment in SMT Research and Development, an Israeli company that’s developing medical devices for use in complex heart procedures. OrbiMed is also expanding its team in Israel, according to a press release.
Author: Arlene Weintraub
Arlene is an award-winning journalist specializing in life sciences and technology. She was previously a senior health writer based out of the New York City headquarters of BusinessWeek, where she wrote hundreds of articles that explored both the science and business of health. Her freelance pieces have been published in USA Today, US News & World Report, Technology Review, and other media outlets. Arlene has won awards from the New York Press Club, the Association of Health Care Journalists, the Foundation for Biomedical Research, and the American Society of Business Publication Editors. Her book about the anti-aging industry, Selling the Fountain of Youth, was published by Basic Books in September 2010.
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