OrbiMed has raised $3 billion across two new life sciences funds, including more than $1 billion earmarked for Asia, according to the firm’s announcement. The new vehicle expands capital available for equity and private investment across drug development stages. OrbiMed said the raise includes its 10th private equity fund within its flagship series, a sign that large-scale dedicated life sciences capital remains active even as biotech sentiment fluctuates. For companies planning financings, the update reinforces that major growth-and-early-stage investors continue to structure Asia-inclusive allocations rather than siloing geography.