VenGrowth is launching the VenGrowth Advanced Life Sciences Fund. The fund offer investors VenGrowth’s later-stage investment strategy applied to the life sciences sector including biotechnology, pharmaceuticals, medical technologies and services.

According to VenGrowth, the fund will be diversified across all areas of the life sciences including biotech, specialty pharma, and medical services and devices. It will seek to decrease risks for investors by balancing high potential returns in the area of drug discovery against steady returns in the areas of diagnostics and medical services and devices.

The firm says that investment in later-stage development companies will minimize the risk entailed in less mature opportunities. The investment team will focus investment decisions based on their return potential for investors over scientific or academic merit.

The fund will be structured as a labour sponsored investment fund, and classified as a research oriented investment fund, giving Ontario investors to access all the key advantages of this asset class including: substantial tax savings (up to 35%), long-term growth performance and foreign content maximization. It is also 100% RRSP-eligible.

Life sciences specialist, Dr. Luc Marengère, will lead the fund management team. The fund’s advisory board includes Dr. Martin Barkin, CEO Draxis Health Inc.; Dr. William Scott, former senior vice president at Bristol-Myers Squibb; and Brian King, former CEO Connaught BioSciences Inc.