OrbiMed raises two new life sciences funds worth $3B with one aiming for Asia

News Business OrbiMed raises two new life sciences funds worth $3B with one aiming for Asia October 16, 2026 | 1 min read | Tristan Manalac Twitter LinkedIn Facebook Email Print The sixth cycle of OrbiMed’s Asia Partners fund included one with more than $1 billion earmarked for life science companies based on the Eastern continent. OrbiMed has raised more $3 billion across two new private equity funds—including one specifically designed to support life science companies across Asia.OrbiMed has also raised fresh funds for U.S. and European companies, for which the OrbiMed Private Investments X vehicle will have $1.9 billion in investment firepower, according to a press announcement on Thursday.

Previous closes for this fund include a $1.86 billion raise in 2022 and $1.5 billion in 2021.Meanwhile, OrbiMed Asia Partners VI raised more than $1 billion to support companies across the Eastern continent. The vehicle adds to the $751 million raise for the fund’s fifth iteration in October 2023 and the $800 million sum from the fourth cycle in 2021. OrbiMed managing partner Carl Gordon in Thursday’s statement pointed to the rise of China as one factor driving the innovation of new therapies.

China-headquartered biotechs have accounted for 58% of all licensing deal value in 2026 so far, as compared to 26% for U.S.-based companies, according to a new report from Locust Walk. In 2023, the split was 14% for Chinese companies and 48% for U.S. China With China rising, Hong Kong builds bridge to biotech innovation Massachusetts-based biotech accelerator LabCentral signed an agreement with Hong Kong Science and Technology Parks Corporation in June to connect founders with the U.S.

ecosystem—and fuel more innovation. August 19, 2026 · 3 min read · Annalee Armstrong Read more OrbiMed is not the only venture fund with an eye toward supporting such Eastern deals. Last week, TCGX unwrapped the Asia Life Sciences Fund I with an oversubscribed $600 million raise.The fund will put its resources behind “innovative biotechnology companies based in Asia,” the group said at the time.

At the same time TCGX announced the new Asia-focused fund, the company revealed that it will open offices in Hong Kong and Shanghai “to take advantage of the explosive growth of early-stage drug discovery in China.”Aside from the rise of China, Gordon also pointed to AI as a major factor driving the industry forward. Analysts have observed an influx of tech investors into biopharma, prompting the ascent of a new class of drugmakers that GATC Health Chief Business Officer Tyrone Lam calls “tech-bio.” This year’s biggest raise so far belongs to Isomorphic Labs, an Alphabet-backed, AI-forward drug developer that in May raised $2.1 billion in a series B—the second-largest round in biopharma history. Other recent hefty raises for AI drugmakers include Chai Discovery’s $400 million series C in July and Enveda’s $311 million series E last month.

Venture capital 5 biggest venture capital raises of Q3 2026 Venture capital continued to flow into biopharma in the third quarter, though experts pointed out that investors remained selective, preferring to put their money behind advanced and derisked assets, as well as AI-driven drugmakers. October 7, 2026 · 8 min read · Tristan Manalac Read more Twitter LinkedIn Facebook Email Print Funding Asia China Venture capital Tristan Manalac Tristan is BioSpace‘s senior staff writer. Based in Metro Manila, Tristan has more than eight years of experience writing about medicine, biotech and science.

He can be reached at tristan.manalac@biospace.com, tristan@tristanmanalac.com or on LinkedIn.