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Advent Life Sciences today announced the closing of Advent Life Sciences Fund II (ALSF II), a £145.5M (USD 235M) venture capital fund raised to seed and build life sciences companies in the UK, Europe and the US. The Fund will back entrepreneurs and early-stage and mid-stage companies with the potential to deliver first- or best-in-class breakthrough products for unmet medical needs. The Fund, which quickly exceeded its target, was raised entirely from independent financial investors including funds-of-funds, pension funds, and family offices.

“We thank our returning and new LPs for the strength of their support, which allowed us to raise the commitments for this Fund in a matter of weeks” said Raj Parekh, General Partner. He added “The interest from LPs and demand for the Fund, particularly in current markets, is in large part a recognition of the scientific and medical entrepreneurs, CEOs and Management teams whose commitment, vision and energy is enabling our portfolio companies to bring important medical innovations to patients. It is a privilege to work with them.”

Another early-stage biotech investor has clocked in with a new fund. London-based Advent Life Sciences said Tuesday it has closed a $235 million vehicle, its second specialized fund since the tech and life science investors of Advent Venture Partners went separate ways last decade.

The firm used to invest in tech and life sciences from a single fund, Advent Life Sciences general partner Raj Parekh said. But in the middle of last decade, as the old Advent began what Parekh (pictured) called a “generational handover,” the tech side looked toward mid-market, growth equity investments, while the life sciences partners wanted to be involved in company formation.

Paragon Bioservices, Inc. (“Paragon”), a privately held contract research and manufacturing organization whose mission is to accelerate the development and manufacturing of biopharmaceuticals and vaccines, announced today that it has raised $13 Million in a Series A Preferred Stock financing led by NewSpring Capital and Camden Partners.

NewSpring Capital, headquartered in Radnor, PA, invests in dynamic companies, partnering with management teams to accelerate growth and develop their businesses into market leaders. Camden Partners, located in Baltimore, MD, operates private equity funds that provide growth capital to emerging companies in the Technology-Enabled Business Services, Healthcare, and Educational sectors. 1st BridgeHouse Securities and Evergreen Advisors, LLC, Columbia, MD acted as advisors to Paragon Bioservices.  All securities transactions were conducted through 1st BridgeHouse Securities, LLC, a member of FINRA and SIPC.

Maryland Department of Health and Mental Hygiene officials announced early Tuesday that the patient tested negative for Ebola. The department said that person will continue to receive the appropriate treatment.

A patient who was being isolated at the University of Maryland Medical Center in Baltimore for Ebola testing Monday evening does not have the deadly virus, officials announced Tuesday.

New Enterprise Associates is preparing to raise the largest venture capital fund in history, Fortune has learned.

The 37 year-old firm has told investors to expect formal documents by year-end for its fifteenth fund, which is expected to target approximately $2.8 billion. That’s nearly a 10% increase from the $2.6 billion NEA raised for Fund 14 in the summer of 2012, which itself was the industry’s record-holder (just edging out a $2.56 billion fund raised in 2006 by Oak Investment Partners). It also told prospective investors that longtime partner Scott Sandell will be promoted to co-managing partner, alongside Peter Barris.

Two new studies in the New England Journal of Medicine rocked the world of celiac research, both proving that scientists have a ways to go in their understanding of celiac disease, which affects about 1% of the population, whether they know it or not.

One Italian study wondered if the age at which gluten is introduced into the diet could affect a person’s likelihood of developing the autoimmune disease—so they kept gluten away from newborns for a year. To the shock of the researchers, delaying exposure to gluten didn’t make a difference in the long run. In some cases it delayed the onset of the disease, but it didn’t stop people from developing the disease, for which there is no cure.

Montgomery County has chosen two partners to begin planning a “kitchen incubator” to provide business training and commercial kitchen space to budding local culinary entrepreneurs.

The county is partnering with Union Kitchen, which runs a for-profit commercial kitchen space in the District, and Streetsense, the Bethesda-based design and development firm, to plan how the incubator will be set up.

Cancer’s become a core area of venture capital interest, particularly given the rise of personalized medicine. But in a cluttered marketplace it’s tough to differentiate the worthy from the chaff. Here are some observations from a panel of investors said at the Cleveland Clinic Medical Innovation Summit Monday:

When it comes to deadly infections, Ebola is certainly the virus du jour. But in the U.S., the risk of contracting the Ebola virus is minuscule compared to the risk of becoming infected with one of several antibiotic-resistant bacteria, sometimes known as “superbugs.”