Phoenix Group and Migdal have supplied capital for Arkin Bio-Ventures II, which investment firm Arkin Holdings will use to invest in 10 to 12 drug developers.

Israel-based investment firm Arkin Holdings launched a $140m healthcare-focused fund yesterday¬† with commitments from insurance providers Phoenix Group and Migdal. Migdal is anchor investor for the vehicle and has supplied $60m, while Phoenix and Arkin are each providing $40m according to Calcalist. Arkin Bio-Ventures II will seek to invest in 10 to 12 companies developing…

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