Commerce Bancorp and Barr Ventures, a subsidiary of Barr Pharmaceuticals, are forming a new venture capital fund to invest in healthcare and life sciences companies in the Northeast. Commerce Health Ventures already has $25 million in investments and plans to grow to $150 million. As part of a strategic relationship with the fund, the for-profit subsidiary of the Greater New York Hospital Association, GNYHA Ventures, will help identify new technologies, products and services worth investing in. GNYHA officials said they "will certainly be looking at our members" for ideas. The fund will be managed by Commerce Health Capital, which has offices in New York and King of Prussia, Pa. -- by Cinda Becker
Venture to fund healthcare, science firms in Northeast
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