The Toronto-based venture capital firm will launch Lumira Ventures Opportunity Fund 1, in which 80 per cent of proceeds will go into biotech companies that trade on public markets. (The Globe and Mail) 

Talking point: Lumira is mirroring a strategy adopted by some U.S. biotech investors, which have long backed both public and private companies. It is one of Canada’s largest biotech investors and raised US$220 million for its latest VC fund last year; over its more than 20-year history, it has invested $450 million into more than 100 companies. Lumira has backed major companies like New Jersey-based Pharmasset, which Gilead Sciences acquired in 2011 for US$11.2 billion, and Vancouver’s Zymeworks. David Novak, who joined Lumira earlier this year as a venture partner, will lead the hedge fund, according to the Globe. Lumira did not immediately respond to The Logic’s request for comment.