BioScience Managers Capital Return on Healthcare Fund I Locks in 24.7% IRR for Investors

Outstanding capital return in final distribution for Australian Bioscience Fund I 

Australia’s best performing biotech fund in recent years as per Cambridge Associates ratings

13 August 2014:

AusBiotech Industry Spotlight here.

Leading Australian healthcare fund manager Bioscience Managers has maintained its exceptional performance by returning capital to investors from its Australian Bioscience Fund I at 24.7% annual IRR.

Since the first commitments in July 2008 the fund has called $35 million to end with $56 million returned to investors.  This corresponds to a closing unit price of $1.76 for each dollar invested at the inception of the fund.

It is the first fund run by Bioscience Managers (formerly IB Managers) and its performance has ensured it is consistently ranked in the top decile of global funds by Cambridge Associates.

The fund focused on mid-stage healthcare and life sciences investments in Australia and New Zealand. Portfolio companies included Peplin, Arana, Alchemia, Bionomics, Acrux and HeartWare. IRR figures cited are net of management fees but do not include performance fees.

“We are thrilled to achieve such a result for investors in our first fund as Bioscience Managers,” said managing director Jeremy Curnock Cook.

“Despite the volatility in the past six years and investing in what is regarded as a high risk sector we’ve outperformed the S&P/ASX200 Accumulation Index by 68%. This is what can be achieved with a first class team of specialists operating in a sector with such strong fundamentals.”

The minimum commitment for the fund was $4 million and the beneficiaries of the fund’s performance were Telstra Super, Asia Union Investments, Meat Industry Employees Superannuation Fund and Australian National University.

Bioscience Mangers has now also established Asia Pacific Healthcare Fund II which seeks to raise up to $100 million. At first close in September 2012 it had received $55 million in commitments.

The fund is using the same investment philosophy as adopted for Fund I while broadening the search for portfolio companies to include the Asia Pacific region. The final close on Fund II will occur in September 2014. Portfolio companies thus far include Rex Bionics, Nexvet Biopharma, Avita Medical, Sea Dragon, AmpliPhi Biosciences and Nexus6.

 

**ENDS**

ContactMatt McNamara 

Chief Investment Officer

BioScience Managers

+61 3 9618 8216

mm@biosciencemanagers.com

Rudi Michelson 

Monsoon Communications

+61 3 9620 3333

rudim@monsoon.com.au

 

About BioScience Managers Pty Ltd (www.BioScienceManagers.com)

BioScience Managers Pty Ltd (formerly IB Managers) is a leading life sciences investment firm, headquartered in Melbourne, Australia. Established in 2003, BioScience Managers offers a global, multi-disciplinary team, bringing an international perspective together with the track record, networks and expertise required to convert that perspective into informed, high return investment decisions.

The firm operates a high value-add model, providing assistance and support to portfolio companies via a global team and international network of independent industry advisors. With combined experience of over 170 investments, more than 40 IPO’s/reversals in Europe, the USA and Australia, and a diverse skillset specific to the bio-based industries, BioScience Managers aims to provide investee companies with significant value-add over and above capital invested.

BioScience Managers’ Asia Pacific Healthcare Fund II has completed a first close at $55m and is still open to investors.