MPM Capital, UBS partner to launch $471 million Oncology Impact Fund

By Lisa Kerner

Charlotte, N.C., May 3 – MPM Capital, Inc. and UBS Securities LLC launched the $471 million UBS Oncology Impact Fund.

The fund is an evergreen, crossover fund dedicated to investing in cancer therapeutics, with 20% of the committed capital dedicated to public equity investments and the balance to private companies, according to a news release.

According to MPM, the fund will co-invest with MPM’s BV2014 venture fund in private oncology company investments. To date, the fund and BV2014 have co-invested in four oncology companies, the release stated.

MPM said it has dedicated a portion of its own profits from the fund to providing access to cancer care in the developing world where cancer kills more people than AIDS, malaria and tuberculosis combined. An equal portion of its profits will go to cancer research.

MPM is an early-stage life sciences venture investing firm based in Cambridge, Mass.

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