NVO - JPMorgan's $500M Venture Capital Fund Bets Big On Weight-Loss Drugs: 'They're All The Rage' | Benzinga
JPMorgan Chase & Co.’s (NYSE:JPM) asset management division has reportedly secured over $500 million for a biotech venture capital fund focusing on weight-loss drugs, targeting the booming sector of the healthcare industry.
The fund concluded this month, and according to Steve Squinto, the chief investment officer of the unit’s life-sciences team, “the top three choices are obesity, obesity, and obesity,” Bloomberg reported, citing an interview with Squinto.
Glucagon-like peptide-1 or GLP-1, commonly referred to as weight-loss drugs, “are all the rage,” Squinto stated, emphasizing that the field is “wide open,” the report added.
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