LONDON – Wellington Partners has reported the final close of its fifth fund at €210 million (US$234 million), well above the initial target range of €120 million to €150 million. Closing the Wellington Partners life sciences fund V (WPLS-V) at more than double the previous fund is a testament to investor appetite for Wellington's strategy, as well as to its experience and track record in life sciences, said Regina Hodits, managing partner.

London-based Smith & Nephew plc raised its 2019 revenue prospects, buoyed by strong second-quarter sales of sports medicine products in the U.S. and a spike in sales in China. Total revenue for the quarter hit $1.3 billion, up 3.1% from the same period a year ago, putting the company at $2.5 billion at the half-year mark and 1.8% above the 2018 six-month total of $2.4 billion, on a reported basis. Underlying growth for the first six months was 3.9%.