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ADB commits $60m

The Asian regional development bank backed a healthcare fund.

Asian Development Bank (ADB) has approved a $60 million commitment to OrbiMed Asia’s latest vehicle, OrbiMed Asia Partners III, which is targeting $450 million.

The investor had previously invested $60 million in the $300 million OrbiMed Asia Partners II in 2014. Both funds invest in healthcare companies across the Asia Pacific region.

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