PHILADELPHIA–Quaker BioVentures has closed its second fund with $420 million in total commitments, bringing Quaker BioVentures’ total assets under management to $700 million.

Following its successful first $280 million fund, which invested in 24 companies, Quaker will maintain its unique investment focus on life science companies in the Mid-Atlantic region, an opportunity-rich, yet still underserved market.

“The Mid-Atlantic region continues to lag in the pace of life sciences venture investment, even though it is home to many of the world’s largest pharmaceutical companies, leading research institutions and government agencies,” says Sherrill Neff, a founding Partner of Quaker BioVentures.

Quaker BioVentures II was significantly oversubscribed from its original $300 million target. The Fund’s returning investors were joined by a number of new institutional investors, including several of the largest and most-respected public pension funds in the United States, and two leading funds-of-funds.

Quaker BioVentures has already made commitments from its second fund to five regional life science companies, including Argolyn BioScience, Diasome Pharmaceuticals, EKR Therapeutics, Optherion, and Transave.

On the Web: www.QuakerBio.com

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