Frazier Healthcare Partners, a Seattle, WA- and Menlo Park, Calif.-based venture capital firm, closed its latest life sciences fund, at $419M.
Frazier Life Sciences IX, L.P., which marks the second dedicated Life Sciences fund, invests primarily in therapeutics-focused companies developing and commercializing innovative biopharmaceuticals that address important unmet medical needs.
The fund will target two-thirds of its investments in Seed and Series A rounds, with many of these investments expected to come from the team’s continued company creation efforts.
Recent Frazier Life Sciences IPOs and exits include:
– Acerta Pharma (acquired by AstraZeneca),
– Tobira Therapeutics (acquired by Allergan),
– AnaptysBio (IPO: ANAB), and
– PreCision Dermatology (acquired by Valeant).
In addition, 20 approved therapeutics have originated from Frazier Life Sciences-backed companies since 2010, including treatments for hematologic cancers (Zydelig, Xatmep), drug-resistant bacterial infections (Zerbaxa, Vabomere), and pain (Xtampza).
The investment partners for Frazier Life Sciences IX, which brings the firm’s total committed capital raised since inception to nearly $3.4 billion, are Patrick Heron, M.B.A., Jamie Topper, M.D., Ph.D., and Dan Estes, Ph.D.