Sands Capital has announced it has closed its third life sciences fund, Sands Capital Life Sciences Pulse Fund III, with $555 million.

Through the new fund, the firm indicated it will continue to pursue businesses in private therapeutics, diagnostics, medical devices and life sciences tools businesses.

Sands Capital, founded in 1992 and based in Arlington, Virginia, describes itself as a long-term investor in innovative growth businesses located throughout the world.