Quaker BioVentures Closes Second Fund with $420 Million in Total Commitments

Fund provides investment capital with focus on Mid-Atlantic life sciences companies

PHILADELPHIA--(BUSINESS WIRE)--Quaker BioVentures announced today that it has closed its second fund with $420 million in total commitments, bringing Quaker BioVentures’ total assets under management to $700 million. Following its successful first $280 million fund, which invested in 24 companies, Quaker will maintain its unique investment focus on life science companies in the Mid-Atlantic region, an opportunity-rich, yet still underserved market.

“It has been exceptionally gratifying to receive such support and confidence from our limited partners”

“The Mid-Atlantic region continues to lag in the pace of life sciences venture investment, even though it is home to many of the world’s largest pharmaceutical companies, leading research institutions and government agencies,” says Sherrill Neff, a founding Partner of Quaker BioVentures. “We have developed an excellent investment team–with strong venture capital, biotech, pharmaceutical, marketing, scientific, medical, investment banking, and operational experience–to take advantage of the tremendous opportunities in the region, and to catalyze activity in the region as a center of life science innovation.”

Quaker BioVentures II was significantly oversubscribed from its original $300 million target. The Fund’s returning investors were joined by a number of new institutional investors, including several of the largest and most-respected public pension funds in the United States, and two leading funds-of-funds.

“It has been exceptionally gratifying to receive such support and confidence from our limited partners,” says Ira Lubert, a founding Partner of Quaker BioVentures. “Our investors recognize Quaker’s regional and industry focus as a differentiator for us in the venture capital market, and have been instrumental in enabling the firm to expand its world-class management team, resources, and ability to support the growth of so many successful companies. We are grateful to them for sharing our vision and allowing Quaker to not only meet, but exceed expectations for our second fund.”

To support its second fund, Quaker’s investment team, led by Sherrill Neff, Brenda Gavin, Richard Kollender, Matt Rieke and Geeta Vemuri, was recently augmented with the addition of Adele Cirone Oliva, formerly of Apax Partners. Hired in 2007, Oliva brings strong experience in specialty pharmaceuticals, medical devices, and larger growth financing to Quaker’s diversified biotechnology focus.

Quaker BioVentures has already made commitments from its second fund to five regional life science companies, including Argolyn BioScience, Diasome Pharmaceuticals, EKR Therapeutics, Optherion, and Transave.

About Quaker BioVentures

Quaker BioVentures is a venture capital firm with $700 million under management, dedicated to investing in life science companies in the Mid-Atlantic region and contiguous states. The firm leads investments in companies across the spectrum of the life science industry, including biopharmaceuticals, medical devices, human diagnostics, specialty pharmaceuticals, and healthcare services. Quaker BioVentures invests in companies at all stages of development, from early stage businesses to public companies. Please visit Quaker BioVentures’ website at www.QuakerBio.com.