A USA-based firm with multiple billion dollars of assets under management, invests from its latest fund that closed in 2023. The firm makes investments in the form of equity (preferred stock) and is an activist investor; the firm prefers to lead investments, take a board seat at its portfolio companies and be actively involved in company management. The firm plans to make 6-8 new investments in life science companies per year.
The firm invests in biopharmaceuticals and typically makes initial investments of $5-15m, with the potential for a total investment of $15-40m. The fund invests in companies based globally, with a focus on North America or Europe.
The firm invests exclusively in therapeutics. The firm will consider opportunities in any indication area but generally does not invest in cardiovascular disorders, diabetes, or other acute chronic care fields. The firm is particularly interested in oncology, specialty drugs, orphan drugs, and other areas where there is a defined clinical path to move the asset toward approval. While the firm usually only invests in assets in Phase II or Phase III, the firm may consider earlier opportunities in oncology, ophthalmology, dermatology, and infectious diseases. The firm is open to working with companies in any area of therapeutic technology but is particularly interested in biologics, and has also invested in biosimilars.
In addition to investing in existing companies, this fund also invests in spinouts (typically from pharma companies); for spinouts, Phase II or earlier products are more likely to be considered as the pharma companies are typically able to provide a significant amount of trial data.
The firm prefers to back management teams that have worked together before; it’s preferred that the team have experience of launching products, and have worked in both small and large biotech companies. While experience is an important consideration, the firm has also worked with first-time CEOs. For investments other than spinouts, the firm prefers to work with privately-held companies but also has past experience of PIPEs.
If you are interested in more information about this investor and other investors tracked by LSN, please email salescore@lifesciencenation.com.
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