OrbiMed, a leading global investment management firm focused on the healthcare sector, is pleased to announce the closing of its first investment fund dedicated to life sciences venture capital opportunities based in Israel. The Fund, OrbiMed Israel Partners Limited Partnership, includes an anchor investment provided by the Government of Israel, which also provided special economic terms through the initial tender process for the Fund.

OrbiMed Israel Partners is an integral part of the global OrbiMed family of funds. The Fund is led by three full time Israel-based partners - Dr. Nissim Darvish, Anat Naschitz and Erez Chimovits - who work in close collaboration with Jonathan Silverstein and Carl Gordon, General Partners and co-heads of OrbiMed's global private equity business, and with Aya Jakobovits, a Venture Partner.

Jonathan Silverstein noted that OrbiMed Israel builds on OrbiMed's longstanding investment interest in Israel, which has led to multiple investments there over the past decade, including early-stage investments in Given Imaging (Nasdaq: GIVN) and SuperDimension (acquired by Covidien). "Israel is known for scientific excellence and entrepreneurial prowess. The Israeli life sciences sector has a strong track record of innovation and commercial success, and presents an opportunity for further growth from what is currently a more mature base." Mr. Silverstein added, "We see increasing maturity in the Israeli industry, as evidenced by two recent acquisitions of revenue-stage companies - SuperDimension and Oridion. We also see a significant increase in clinical-stage biopharmaceutical companies."

Dr. Nissim Darvish, Senior Managing Director at OrbiMed Israel, said, "We are excited about the opportunity to simultaneously create value for our investors and nourish the Israeli life sciences industry by leveraging our global networks and expertise." Dr. Darvish added that the new fund invests in biotechnology, pharmaceutical, medical device and diagnostics companies at varying stages of maturity, from seed stage through growth equity. The Fund has made two investments already: Keystone Heart, a company developing an embolic protection device for interventional cardiology procedures, and Otic Pharma, a company developing foam formulations for ear medication.

About OrbiMed

OrbiMed is a preeminent investment firm dedicated exclusively to the life sciences sector, with approximately $6 billion in assets under management. OrbiMed invests across the entire spectrum of pharmaceutical, biotechnology and medical device companies on a worldwide basis. Investments are made through private equity funds, hedge funds, royalty funds and other investment vehicles.

Since inception of its venture capital activities in 1993, OrbiMed has partnered with over 120 companies across a wide range of therapeutic categories and stages of development. OrbiMed's investment team includes over 50 experienced professionals with offices in New York City, Tel Aviv, San Francisco, Shanghai and Mumbai. As the largest investment firm dedicated to the healthcare sector, OrbiMed is a capital provider of choice, bringing the global resources required to be an exceptional long term partner for building world-class healthcare companies. www.OrbiMed.com.