Samuel D. Isaly, founder and managing partner of alternative money manager OrbiMed Advisors, is stepping down from the firm, a news release said.
When he plans to resign and his future plans were not disclosed. OrbiMed partners Sven H. Borho, Carl L. Gordon and Jonathan T. Silverstein will replace him in the form of a management committee as managing partner.
Mr. Isaly founded OrbiMed Advisors in 1998 and was co-founder in 1989 of predecessor firm Mehta & Isaly.
OrbiMed Advisors has over $14 billion in assets under management.
A spokeswoman declined comment.