OrbiMed is an investment manager focused exclusively on the healthcare sector. OrbiMed’s predecessor
was founded in 1989, and OrbiMed is owned by Sven H. Borho, Carl L. Gordon, Jonathan T. Silverstein, W.
Carter Neild, Geoffrey C. Hsu, C. Scotland Stevens, and David P. Bonita. As of December 31, 2018
OrbiMed, together with its affiliates and relying advisers, managed approximately $11.4 billion on a
discretionary basis on behalf of 23 clients.
OrbiMed provides discretionary investment management services to U.S. and non-U.S. public and private
funds. In providing such services, OrbiMed utilizes strategies based on evaluating pharmaceutical,
biotechnology, medical device,
healthcare services and other companies in the global healthcare sector. Such
strategies generally include, within the healthcare sector and subject to the investment program of each client,
investments in the securities of U.S. and non-U.S. public and/or private companies. Clients are permitted to
set guidelines for their accounts which customize OrbiMed’s core strategies, including restrictions related to
sub-sector, geographic and other weightings. In providing its investment advisory services, OrbiMed
determines when and which investments will be acquired, disposed of, or exchanged on behalf of its clients
to maintain a portfolio consistent with each client’s objectives.