The Swiss wealth management giant has entered a collaboration to focus on cancer cure development.

UBS Wealth Management has teamed up with bioventure investment firm MPM Capital to support the development of cancer cures.

The two businesses will support academic research and better access to cancer care in the developing world. Only specific qualifying investors will be able to invest in opportunities arising out of the collaboration.

“This is a significant step on the journey to make impact investing a mainstream asset class. To do that, we need to ensure that investment returns stack up, while also producing a social good,” said the president of UBS, Jürg Zeltner.

UBS said the market for cancer drugs is expected to grow faster than for any other disease, due to ageing populations in developed countries and a burgeoning middle class in emerging markets with better access to care. Oncology is the largest and fastest growing therapeutic area in terms of drug development activity, representing approximately 23 per cent of total research spend, it continued.

UBS Wealth Management offers clients a range sustainable investment opportunities. The group's Optimus Foundation supports the "UBS and Society" programme, which seeks to create long-term, sustainable and measurable benefits for clients and communities.

MPM, which has identified breakthrough therapies through academia and building new companies, has had numerous IPOs in healthcare over the last decade.