The Indian firm Reliance Life Sciences (RLS) has announced its partnership with U.S.-based global investment management firm MPM Capital LP, news agency Press Trust of India reported on Thursday.

The partnership entails Reliance Life Sciences (RLS) becoming a strategic partner in MPM Capital's new fund, MPM BioVentures IV, which has a corpus of 650 million U.S. dollars.

It is reported that RLS will be a substantial investor in the fund besides acting as a strategic partner with the right to tap innovations in life sciences companies that the fund would invest in.

MPM Capital expects the BioVentures IV fund to invest in select emerging life-sciences companies.

The U.S.-based company is focused solely on life-sciences investing and has offices in Boston, San Francisco and New York.

The RLS also announced the expansion of its clinical research services to the United States by incorporation of a subsidiary in Delaware.

Source: Xinhua