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UBS Trumpets Strong Capital Support For Oncology Impact Fund

The firm says that it is the largest dedicated impact investment fund in biotech history.
UBS Global Wealth Management clients have invested $650 million
in MPM Capital’s Oncology Impact Fund 2, an impact investing
initiative that invests in private and public companies
developing innovative treatments for cancer.
The investment equates to more than 75 per cent of the $850
million raised in total for the fund, UBS said in a statement
yesterday.
It said that the total sum raised makes OIF 2 the largest
dedicated impact investment fund in biotech history.
OIF 2 will create and invest in private and public companies that
develop innovative treatments for cancer and other serious
illnesses. The fund, which will target companies developing
breakthroughs, innovative treatments, and therapeutics, will be
overseen by MPM Capital’s BioImpact Capital team. It will invest
80 per cent of its capital into private companies, with the
remaining 20 per cent going towards public companies.
“The OIF 2 is a great example of how UBS is making further
progress on this objective, working with an expert partner to
connect our clients with investible solutions that have the
potential to improve the health and lives of many,” Ralph Hamers,
UBS Group chief executive, said.
The bank said that recent successes of portfolio companies
include ElevateBio, which earlier this year raised a $525 million
Series C round of financing, and Orna, which has raised more than
$100 million from MPM and outside investors.
UBS Global Wealth Management's chief investment office said that
it has identified themes which are attractive from an impact
investing perspective, including within climate change and food
resilience, green technologies, healthcare, education, diversity
and inclusion.