-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
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 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 R/OqfTU80SKAFTMoegHyqBcs7vF9Ryu2hCws/TQt7iyD91yr6dDjTo4j1m0EFa6J
 qj4NhxMAyAOluTe/LvF4tA==

<SEC-DOCUMENT>0001329830-10-000003.txt : 20100112
<SEC-HEADER>0001329830-10-000003.hdr.sgml : 20100112
<ACCEPTANCE-DATETIME>20100112105357
ACCESSION NUMBER:		0001329830-10-000003
CONFORMED SUBMISSION TYPE:	D
PUBLIC DOCUMENT COUNT:		1
ITEM INFORMATION:		Rule 506
FILED AS OF DATE:		20100112
DATE AS OF CHANGE:		20100112
EFFECTIVENESS DATE:		20100112

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Panacea Fund, LLC
		CENTRAL INDEX KEY:			0001475744
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			IL
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		D
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	021-137686
		FILM NUMBER:		10521811

	BUSINESS ADDRESS:	
		STREET 1:		191 N. WACKER DRIVE
		STREET 2:		SUITE 1500
		CITY:			CHICAGO
		STATE:			IL
		ZIP:			60606
		BUSINESS PHONE:		312-621-0590

	MAIL ADDRESS:	
		STREET 1:		191 N. WACKER DRIVE
		STREET 2:		SUITE 1500
		CITY:			CHICAGO
		STATE:			IL
		ZIP:			60606
</SEC-HEADER>
<DOCUMENT>
<TYPE>D
<SEQUENCE>1
<FILENAME>primary_doc.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<edgarSubmission>

    <schemaVersion>X0603</schemaVersion>

    <submissionType>D</submissionType>

    <testOrLive>LIVE</testOrLive>

    <primaryIssuer>
        <cik>0001475744</cik>
        <entityName>Panacea Fund, LLC</entityName>
        <issuerAddress>
            <street1>191 N. WACKER DRIVE</street1>
            <street2>SUITE 1500</street2>
            <city>CHICAGO</city>
            <stateOrCountry>IL</stateOrCountry>
            <zipCode>60606</zipCode>
        </issuerAddress>
        <issuerPhoneNumber>312-621-0590</issuerPhoneNumber>
        <jurisdictionOfInc>ILLINOIS</jurisdictionOfInc>
        <issuerPreviousNameList>
            <value>None</value>
        </issuerPreviousNameList>
        <edgarPreviousNameList>
            <value>None</value>
        </edgarPreviousNameList>
        <entityType>Limited Liability Company</entityType>
        <yearOfInc>
            <overFiveYears>true</overFiveYears>
        </yearOfInc>
    </primaryIssuer>

    <relatedPersonsList>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Jack</firstName>
                <middleName>R.</middleName>
                <lastName>Polsky</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>191 N. Wacker Drive</street1>
                <street2>Suite 1500</street2>
                <city>Chicago</city>
                <stateOrCountry>IL</stateOrCountry>
                <zipCode>60606</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Charles</firstName>
                <middleName>V.</middleName>
                <lastName>Polsky</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>191 N. Wacker Drive</street1>
                <street2>Suite 1500</street2>
                <city>Chicago</city>
                <stateOrCountry>IL</stateOrCountry>
                <zipCode>60606</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Michael</firstName>
                <middleName>S.</middleName>
                <lastName>Resnick</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>191 N. Wacker Drive</street1>
                <street2>Suite 1500</street2>
                <city>Chicago</city>
                <stateOrCountry>IL</stateOrCountry>
                <zipCode>60606</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
    </relatedPersonsList>

    <offeringData>
        <industryGroup>
            <industryGroupType>Pooled Investment Fund</industryGroupType>
            <investmentFundInfo>
                <investmentFundType>Other Investment Fund</investmentFundType>
                <is40Act>false</is40Act>
            </investmentFundInfo>
        </industryGroup>
        <issuerSize>
            <aggregateNetAssetValueRange>$25,000,001 - $50,000,000</aggregateNetAssetValueRange>
        </issuerSize>
        <federalExemptionsExclusions>
            <item>06</item>
        </federalExemptionsExclusions>
        <typeOfFiling>
            <newOrAmendment>
                <isAmendment>false</isAmendment>
            </newOrAmendment>
            <dateOfFirstSale>
                <value>2001-07-18</value>
            </dateOfFirstSale>
        </typeOfFiling>
        <durationOfOffering>
            <moreThanOneYear>true</moreThanOneYear>
        </durationOfOffering>
        <typesOfSecuritiesOffered>
            <isPooledInvestmentFundType>true</isPooledInvestmentFundType>
        </typesOfSecuritiesOffered>
        <businessCombinationTransaction>
            <isBusinessCombinationTransaction>false</isBusinessCombinationTransaction>
            <clarificationOfResponse></clarificationOfResponse>
        </businessCombinationTransaction>
        <minimumInvestmentAccepted>250000</minimumInvestmentAccepted>
        <salesCompensationList></salesCompensationList>
        <offeringSalesAmounts>
            <totalOfferingAmount>Indefinite</totalOfferingAmount>
            <totalAmountSold>39686000</totalAmountSold>
            <totalRemaining>Indefinite</totalRemaining>
            <clarificationOfResponse>Original Form D filed September 2001</clarificationOfResponse>
        </offeringSalesAmounts>
        <investors>
            <hasNonAccreditedInvestors>true</hasNonAccreditedInvestors>
            <numberNonAccreditedInvestors>1</numberNonAccreditedInvestors>
            <totalNumberAlreadyInvested>98</totalNumberAlreadyInvested>
        </investors>
        <salesCommissionsFindersFees>
            <salesCommissions>
                <dollarAmount>0</dollarAmount>
            </salesCommissions>
            <findersFees>
                <dollarAmount>0</dollarAmount>
            </findersFees>
            <clarificationOfResponse></clarificationOfResponse>
        </salesCommissionsFindersFees>
        <useOfProceeds>
            <grossProceedsUsed>
                <dollarAmount>0</dollarAmount>
            </grossProceedsUsed>
            <clarificationOfResponse></clarificationOfResponse>
        </useOfProceeds>
        <signatureBlock>
            <authorizedRepresentative>false</authorizedRepresentative>
            <signature>
                <issuerName>Panacea Fund, LLC</issuerName>
                <signatureName>Michael S. Resnick</signatureName>
                <nameOfSigner>Michael S. Resnick</nameOfSigner>
                <signatureTitle>EVP, WHI, Inc. as Manager of Panacea Fund, LLC</signatureTitle>
                <signatureDate>2010-01-12</signatureDate>
            </signature>
        </signatureBlock>
    </offeringData>
</edgarSubmission>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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