5AM Venture Management, LLC, a San Francisco, CA and Boston, MA-based life science venture capital firm, closed two new funds, totaling $497m in committed capital.
The funds include:
– 5AM Ventures VI, L.P., a $350m venture capital fund focused on building new biotech companies.
– 5AM Opportunities I, L.P., which will target existing 5AM portfolio companies where there are opportunities to invest additional capital.
The capital was raised from a broad range of institutional investors including corporate and public pensions, endowments and foundations, family offices and funds-of-funds.
Founded in 2002, 5AM will continue to target early-stage life science companies with investments focused on the discovery and development of therapeutics, drug delivery technologies and research instruments and reagents. Within each sector, the firm will invest across therapeutic areas and will consider opportunities based on innovative platform technologies, corporate spin-outs and products with shorter development cycles.
With approximately $1.5 billion raised since inception, 5AM has invested in 73 companies including Arvinas (NASDAQ: ARVN), Audentes Therapeutics (NASDAQ: BOLD), Crinetics Pharmaceuticals (NASDAQ: CRNX), DVS Sciences (acquired by Fluidigm), Envoy Therapeutics (acquired by Takeda), Flexion Therapeutics (NASDAQ: FLXN), Homology Medicines (NASDAQ: FIXX), Ikaria (acquired by Mallinckrodt), Ilypsa (acquired by Amgen), Marcadia Biotech (acquired by Roche), Novira Therapeutics (acquired by J&J), Pearl Therapeutics (acquired by AstraZeneca) and Relypsa (acquired by Vifor Pharma).
The investment team is led by Managing Partners Kush Parmar, M.D., Ph.D. and Andy Schwab, and Partners David Allison, Ph.D., Brian Daniels, M.D., and Deb Palestrant, Ph.D. John Diekman, Ph.D. and Scott Rocklage, Ph.D. are Founding Partners. Additional investment team members include: Jamil Beg, Galya Blachman, Ph.D., Mira Chaurushiya, Ph.D., Michelle Ho, Ph.D., Rebecca Lucia, CFA, and Jason Ruth, Ph.D., and Venture Partners Mason Freeman, M.D., Peter Kim, Ph.D., Vamsi Mootha, M.D., Lou Tartaglia, Ph.D., Joe Victor, Jonathan Weissman, Ph.D. and Jim Young, Ph.D.