Months after being rocked by sexual harassment allegations, biotech’s largest investment fund is in process of raising $1 billion from investors, its largest offering to date, while the founder who was at the center of the controversy remains a partner at the firm.
Legendary biotech financier Sam Isaly said late last year that he would retire following publication of a STAT investigation in which six former OrbiMed employees said he regularly sexually harassed the firm’s female employees, particularly executive assistants.
But recent filings with the Securities and Exchange Commission list Isaly — who had denied the charges — as OrbiMed’s manager. The Wall Street firm and Isaly are in the process of negotiating his departure, but it’s unclear how long those talks might take.
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