NovaQuest Raises $60 Million for VC Fund

Raleigh-based investment firm NovaQuest Capital has raised $60 million to invest in other companies, according to a Monday filing with the Securities and Exchange Commission.

The company, which specializes in funding biopharmaceutical and health care companies, has $340 million left to raise to meet its goal of $400 million.

According to the filing, the fund received money from an investor who had earlier invested with NovaQuest.

NovaQuest was formed in 2000 to invest in life sciences and health care companies. Today, NovaQuest Capital Management manages over $1.4 billion in investments through two ways — biopharma investments and private equity deals.

In the biopharma sector, the company invests mainly in product-based investments in late-stage clinical commercial biopharma companies. It has invested in companies such as Pharmaxis, Hospira and ProStrakan.

In its private equity investments, NovaQuest looks for investments in companies with revenue between $20 million and $100 million, with positive cash flow.

The SEC filing was signed by John L. Bradley, a founding partner of NovaQuest.

Bradley, who has nearly 20 years of experience in the health care industry and 30 years of overall experience in finance, served as senior vice president of the NovaQuest business unit of Quintiles, prior to its split from Quintiles, in 2010.

As senior vice president of Quintiles’ Corporate Development Group, he directed a number of strategic transactions in acquisitions, divestitures, joint ventures, strategic sourcing and debt issuances.

Companies relying on a Reg D exemption do not have to register their offering of securities with the SEC, but they must file what’s known as a Form D electronically with the SEC after they first sell their securities.

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