J.P. Morgan's private financing arm closes inaugural $500M-plus biotech fund

J.P. Morgan Private Capital has closed an inaugural life sciences fund of more than $500 million, cash that will go toward a wide range of private biotechs and build value for existing portfolio companies.

Dubbed the “270 Life Sciences Private Capital Fund I,” the money was raised in just over a year, Stephen Squinto, Ph.D., chief investment officer and managing partner of J.P. Morgan Life Sciences Private Capital, said in a June 13 release.