OrbiMed raises two new life sciences funds worth $3B with one aiming for Asia

OrbiMed has raised more than $3 billion across two new private equity funds, including OrbiMed Private Investments X with $1.9 billion for U.S. and European life science companies and OrbiMed Asia Partners VI with more than $1 billion for Asian companies. Managing partner Carl Gordon cited the rise of China, whose biotechs have accounted for 58% of licensing deal value in 2026 so far, versus 26% for U.S. companies. TCGX also launched the oversubscribed $600 million Asia Life Sciences Fund I, with plans for Hong Kong and Shanghai offices.