OrbiMed

What OrbiMed does

OrbiMed Advisors LLC is a privately held, partner-led global healthcare investment firm founded in 1989 and headquartered in New York City. The firm manages approximately $20 billion in assets under management across 500+ portfolio companies and operates through three integrated strategies: Private Equity (seed to growth across biopharmaceuticals, medical devices, diagnostics, and healthcare services), Private Credit / Royalty (non-dilutive structured debt and royalty monetization for commercial-stage companies), and Public Equity (long/short event-driven funds and closed-end trusts across publicly traded healthcare companies). The firm invests globally from 12 offices spanning New York, San Francisco, Shanghai, Hong Kong, Herzliya, and London, with 150+ scientific, medical, and investment professionals executing lead-investor positions and providing board representation and follow-on capital.

The firm's core proprietary capability is a healthcare-only investment platform combining deep scientific expertise with disciplined due diligence, formalized in an ESG-aligned Responsible Investing Policy overseen by a Director–ESG. OrbiMed is ranked number one on the Endpoints News Top 100 biotech venture investors list and has backed 130+ venture-backed IPOs, 80+ developed therapies, and 110+ life sciences startups. Notable 2026 deployments include leads or co-leads in Windward Bio ($165M), Mirador Therapeutics ($250M), Odyssey Therapeutics ($310M), and the close of the $1.86B Healthcare Royalty & Credit Fund V.

OrbiMed generates revenue primarily through recurring management fees on AUM across its private equity, public equity, and private credit/royalty funds, supplemented by carried interest on successful exits and royalty/credit investment income. Capital is raised bilaterally from institutional limited partners and deployed through direct partner-led deal sourcing. Recent management includes CEO Donnie McGrath, founders Sam Isaly, Sven Borho, and Michael B. Sheffery, and managing partners Carl Gordon and W. Carter Neild.

Name

OrbiMed

Legal name

OrbiMed Advisors LLC

Website

https://orbimed.com

Company type

Private

Founded year

1989

Operating status

Operating

Headcount range

101–250 employees

Short description

OrbiMed is a privately held, healthcare-only investment firm founded in 1989 managing approximately $20 billion in AUM across private equity, public equity, and royalty/credit strategies, serving life sciences and healthcare companies globally from 12 offices.

Ownership category

akta.pro rank

Headquarters

HQ city

New York

HQ country

United States

HQ region

North America

Offices6 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Others

Revenue model

1. Management Fees on Funds under Management: OrbiMed earns recurring management fees on the approximately $20 billion in assets under management across its multiple private equity, public equity, private credit/royalty, and royalty funds. This is a traditional asset-management revenue stream driven by AUM size.
2. Investment Returns (Carried Interest / Performance Fees): As a healthcare-focused investment firm investing across the capital structure (equity, credit, and hybrid instruments) from seed-stage start-ups to large multinational corporations, OrbiMed generates returns from realized and unrealized gains on its investments, including carried interest on successful exits. Notable successes include 130+ venture-backed IPOs from its portfolio.
3. Royalty Monetization & Structured Credit Income: Through its Private Credit/Royalty strategy, OrbiMed provides non-dilutive structured debt capital to commercial-stage healthcare companies and monetizes royalty streams from owners of intellectual property, generating both interest/royalty income and capital appreciation.

Pricing tiers

Go-to-market motion2 records

Distribution channels2 records

Marketing channels5 records

Core offering

OrbiMed is a global healthcare-dedicated investment firm founded in 1989 with approximately $20 billion in assets under management, operating across three principal strategies: Private Equity (growth capital, venture, and structured investments in healthcare companies), Private Credit/Royalty (royalty financing and credit solutions for biopharma), and Public Equity (long-only and long/short public-market healthcare investing).

Product overview

OrbiMed operates as a global healthcare investment firm (not a single unified software product), offering three complementary investment strategies that together span the full healthcare capital structure. The Private Equity strategy invests from seed through growth equity across biopharmaceuticals, medical devices, diagnostics, and healthcare services globally. The Private Credit / Royalty strategy provides non-dilutive structured debt and royalty monetization for commercial-stage healthcare companies, including the recently launched $1.86B Healthcare Royalty & Credit Fund V. The Public Equity strategy manages long/short event-driven funds and closed-end investment trusts across publicly-traded healthcare companies worldwide. Together these three pillars deploy approximately $20B across 500+ portfolio companies (such as Adaptive Biotechnologies, ADARx, Treeline Biosciences, and Mirador Therapeutics), supported by 150+ professionals across 12 global locations.

Differentiator

Problem solved

Functional benefit

Brands

• OrbiMed Healthcare Royalty & Credit Fund V: OrbiMed's fifth dedicated royalty/credit fund, which closed at $1.86 billion and provides commercial-stage healthcare companies with non-dilutive structured debt capital and royalty monetization.

Products and services

• OrbiMed Private Equity Strategy Growth-equity, venture, and structured private investments in healthcare companies across all stages and therapeutic areas, for limited partners and underlying portfolio companies.
• OrbiMed Private Credit / Royalty Strategy Royalty monetization financing and private credit solutions extended to biopharmaceutical and healthcare companies, providing non-dilutive capital to commercial and late-stage assets.
• OrbiMed Public Equity Strategy Long-only and long/short public-market investments in global healthcare equities, managed for institutional limited partners.

Quantifiable outcome

• OrbiMed ranks number one on the Endpoints top 100 list of biotech venture investors
• +3 more outcomes

Named customers6 records

Segments6 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

Two partnerships are on record, tiered strategic incubator partner.

• Johnson & Johnson Innovation - JJDCstrategic incubator partnerStrategic or Co-development PartnerCo-founding partner of FutuRx, an Israel-based biotech incubator, alongside OrbiMed Israel Partners and Takeda Ventures Inc., teaming with the Office of the Chief Scientist of the Ministry of Economy in a national initiative to transform breakthrough discoveries into novel medicines.
• Takeda Ventures Inc.strategic incubator partnerStrategic or Co-development PartnerCo-founding partner of FutuRx alongside Johnson & Johnson Innovation - JJDC and OrbiMed Israel Partners, participating in the national Israeli initiative to bridge the gap between concept and proof-of-concept for novel medicines.

Scale indicators9 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• RA Capital Management: Boston-based healthcare-only investment manager operating a crossover fund and dedicated venture strategy; a recurring co-investor alongside OrbiMed in dozens of biotech rounds (e.g., Immunic, Windward Bio, Terremoto, ALX Oncology, Q32 Bio) with a directly comparable sector focus and stage mix.
• Frazier Life Sciences: Healthcare-focused venture and public equities manager based in Seattle; a recurring OrbiMed co-lead in biotech rounds (e.g., AirNexis Therapeutics, Angitia, Sidewinder), with a directly comparable focus on biopharmaceutical venture creation and crossover investing.
• ARCH Venture Partners: Chicago-based, healthcare-only venture firm investing across biotech, medtech, and diagnostics from seed through public markets; competes with OrbiMed at the early-stage end of the healthcare capital structure and is a frequent co-investor in companies like Mirador Therapeutics.
• Baker Bros. Advisors: New York-based, healthcare-only specialist managing long-only equities and venture capital across biopharmaceuticals; one of the largest dedicated healthcare-only investment franchises and a direct competitor to OrbiMed across public crossover and private biotech rounds.
• Bain Capital Life Sciences: Healthcare-dedicated franchise of Bain Capital investing across venture, growth, and credit in biopharma and medtech; competes head-to-head with OrbiMed for life sciences deals and offers a comparable cross-strategy platform (equity plus structured credit).
• Deerfield Management: New York-based healthcare investment manager providing venture, public, and structured debt capital to biopharma and medtech companies; a direct competitor to OrbiMed across the full healthcare capital structure, with similar AUM scale and a New York headquarters.
• Atlas Venture: Boston-based, healthcare-only early-stage venture firm building biotech companies from inception; overlaps with OrbiMed at the seed/Series A end of healthcare (Atlas participated alongside OrbiMed in Q32 Bio) and competes for the same founder relationships.
• Longitude Capital: Menlo Park-based growth equity firm dedicated to healthcare with a focus on late-stage biopharma and medtech; a recurring co-investor with OrbiMed (e.g., AirNexis Therapeutics) and a directly comparable growth-stage healthcare franchise.

Broad incumbents

• Janus Henderson Investors: Large, diversified global asset manager with dedicated healthcare public equity strategies; a recurring co-investor with OrbiMed in crossover and PIPE financings (Lycia, Windward Bio, Relmada) but competes only as a generalist with a healthcare specialist sleeve, not a pure-play comparable.
• New Enterprise Associates (NEA): Large, multi-stage venture firm with a dedicated healthcare practice across biopharma and healthtech; an established incumbent in healthcare venture investing that overlaps with OrbiMed in growth-stage rounds but is not healthcare-only and competes from a broader sector mandate.

Market position

Strengths1 record

Weaknesses1 record

Competitive moat5 records

Key risks4 records

Key highlights7 records

Customer concentration

• Xx.com/OrbiMed
• LinkedInlinkedin.com/company/orbimed-advisors

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Subsidiaries2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments830 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about OrbiMed