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M Global has created a VC fund dedicated to the FutuRx biotech incubator Johnson & Johnson set up with OrbiMed and Takeda. The life science investment banking firm has secured preferential access to FutuRx, positioning it to get in on the ground floor alongside the companies that founded the incubator.
To get the fund started, RM Global has pulled in $30 million for its first closing. The plan is to open it up for new investors and dial up its cash haul ahead of a second closing in the near future. That will give RM Global the ability to secure stakes in the likes of BiomX, a FutuRx graduate that raised $24 million from OrbiMed, Johnson & Johnson Innovation, Takeda Ventures and others earlier this month to bankroll its microbiome R&D plans.
Image: The flag of Israel (Zachi Evenor (CC BY 3.0))
