Hopen Life Science Ventures has initially closed its second fund at $25 million, AltAssets reports. The Hopen Life Science Fund II will remain open to new partners to achieve a target fund size of $50 million by January 2012. The fund will focus on early-stage life science companies with innovations that lead to improved healthcare outcomes and/or reduced healthcare system costs. The U.S. life science venture capital firm had earlier launched its first fund in 2006.
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