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Need Cash? Tullis-Dickerson Closes $122M Healthcare Fund for Seed- and Mid-Stage Firms

Oct 30, 2002

NEW YORK, Oct. 30 - Seed- or mid-stage biotech shops hard-up for cash may consider looking to Tullis-Dickerson, which recently said it closed a $122 million private-equity fund.

 

Cash from this fund, the company's fourth-largest to date, will be divided between genomic-tool vendors, informatics companies, drug discoverers, and medical-device makers, according to a spokeswoman.

 

Specifically, Tullis-Dickerson said it plans to spend between $5 million and $10 million on roughly 15 companies based in the United States. The fund, called Tullis-Dickerson Capital Focus III, has already invested in four firms, each of them a drug discoverer.

 

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