Canada-based pharmaceutical company Knight Therapeutics has agreed to invest $13m in Canada-based investment firm Sectoral Asset Management’s New Emerging Medical Opportunities Funds II (NEMO II).
Sectoral, which has $3.6bn of assets under management as of the end of March 2014, targets companies in the healthcare sector and will encourage its portfolio companies in the NEMO II fund to choose Knight Therapeutics as their preferred supplier.
Jonathan Ross Goodman, chief executive of Knight, said: “Sectoral is an ideal partner from which we can leverage their proven pharma deal hunting skills and vast relationships to secure Canadian product rights.
“We expect this investment to pay dividends both from the fund return and from new products commercialised in Canada by Knight.”