Caxton Advantage Venture Partners, L.P., has formed a new entity, Valence Life Sciences, LLC, which will continue to focus on privately-held and micro-cap public, clinical development stage life sciences companies.
Founded in 2006 by Dr. Rachel Leheny, Eric Roberts and an affiliate of Caxton Associates LP, Caxton Advantage Venture Partners is a life sciences venture capital firm.
Dr. Leheny, Mr. Roberts and their team will continue to manage Caxton Advantage’s nine portfolio companies.
Jay Cecil and Scott Morenstein, who have been at Caxton Advantage, will also be part of the investment team serving as managing directors at Valence.
Bruce Kovner, who retired from Caxton at the end of 2011, will serve on its investment committee along with Dr. Leheny and Mr. Roberts.
In addition, the new firm will have an Industry Advisory Board composed of former senior executives of some of the largest pharmaceutical companies including:
– Peter Dolan (former Chairman and CEO of Bristol-Myers Squibb),
– Hank McKinnell, Ph.D. (former Chairman and CEO of Pfizer),
– Franceso Bellini, Ph.D. (former Chairman and CEO of BioChem Pharma),
– Dani Bolognesi, Ph.D. (former Vice Chairman and CEO of Trimeris), and
– Robert Bonczek (former CFO of Trimeris).
Valence Life Sciences is based in New York- and San Diego.