After years in the wilderness the few surviving biotech and
healthcare funds are talking of a new paradigm and say it it
will be different this time
After a two-year slump, biotech is back on top again. And
the recent approval of ImClone's experimental cancer drug
Erbitux has given the industry another boost and persuaded many
hedge fund investors to take another look at the sector, which
is populated by a number of big players such as OrbiMed,
Deerfield and MPM and is showing signs of spawning a series of
new healthcare funds over the coming months with four or five
on the launch pad.
Among the likely new entrants is Tim Bepler, a former
consultant for Circle T Partners, who is incubating a
healthcare fund. Bepler was the sole portfolio manager for
several funds totaling $300 million at Orbitex Management,
including the Orbitex Health & Biotech Fund. His new...