MPM strikes deal to invest in Indian biotechs - FierceBiotech

MPM strikes deal to invest in Indian biotechs - FierceBiotech: "The U.S. venture firm MPM Capital has created a partnership with India's Reliance Life Sciences aimed at injecting fresh capital into the subcontinent's life sciences industry. In the deal, RLS has become a partner in MPM BioVentures IV, a newly-closed $550 million fund which will budget a portion of its investment dollars for Indian biotech companies. The two firms are also considering the potential of a new seed fund that would be devoted to Indian companies. The move is a welcome development for India's biotech sector, which has been long on potential and short on cash. It also offers another glimpse at the increasingly global structure of drug development, as companies develop international strategies for cutting costs and shortening development time frames."