PRINT THIS PAGE Swiss HBM Partners reaches first close on second fund at $95m21/05/2004. Source: AltAssets. 
 Swiss HBM Partners has reached a first close on its second biotech fund with $95m of commitments. The fund was launched in September 2002, but fundraising was suspended for a year due to market conditions and the firm's merger with NMT New Medical Technologies.
'We didn't stop fundraising exactly, but we didn't pursue it either,' Andreas Wicki, chief executive of HBM Partners told VentureWire. 'We had other priorities.'
The new BioCapital fund will focus on late stage opportunities in biotech, medical technology and pharmaceutical firms developing drugs based on technologies such as genomics, proteomics, computational chemistry, systems biology and novel drug discovery methods, as well as micro and nanotechnologies. The fund's geographic focus will be divided evenly between Western Europe and the US.
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