Hot Life Science Investor Mandate 2: Evergreen Fund Seeks Orphan Drug Opportunities

8 Oct

A healthcare-focused, evergreen fund based in California is looking for new life science opportunities. The firm is mainly focused on therapeutics and will consider platform technologies, however only platforms capable of generating drug candidates. The firm’s investment size varies widely depending on the needs of the company, and will make investments of up to $5M. The capital structure depends on the financing round, with convertible notes being preferred for seed rounds and equity for everything else; no debt financing. The firm only co-invests, and does not lead rounds. The firm has some limitations on geographic exposure and will consider companies in any part of the U.S., Western Canada or England.

The firm invests in therapeutics that treat rare and ultra-rare/orphan diseases. The firm is interested in earlier stage assets and will consider anything from preclinical up unto phase IIa. In the past, the firm has invested in therapeutics, which treat unmet needs in glaucoma, patients with prosthetic heart valves and renal dysfunction as well as a small molecule to treat Alzheimer’s disease. The firm will consider early-stage therapeutics to treat orphan disease including small molecules, biologics, repurposed drugs or biosimilars, cell/gene therapy candidates (least interest) and platform technologies (that generate drug candidates). The firm is not interested in diagnostics, medical devices or healthcare IT.

The firm does not have any specific management team requirements, and will work with all entrepreneurs. A board seat is not always required, but is not uncommon.

If you are interested in more information about this investor and other investors tracked by LSN, please email

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