Perceptive Advisors, a NYC-based investment management firm focused on the life sciences sector, closed Perceptive Xontogeny Venture Fund II, LP, at $515m, to further its early-stage life sciences platform.
PXV Fund II includes existing investors from the inaugural fund, new investors including top-tier asset managers, endowments, foundations, family offices, and notable individual investors, and all of the PXV Fund II Partners.
The close of PXV Fund II more than triples assets under management to $725m in less than two years since the closing of the inaugural PXV Fund I, which launched Perceptive’s early-stage venture fund strategy.
The PXV Fund strategy complements Perceptive Advisors’ Life Sciences Fund (hedge fund) and Credit Opportunities Funds as it will be solely focused on early-stage venture capital and expects to be the sole or predominant lead investor in Series A financings in the range of $20-40m with capacity to participate in subsequent Series B financings.
The PXV Funds are focused exclusively on life sciences technologies across a broad range of therapeutic areas with a greater emphasis on drug technologies and a lesser focus on early drug and discovery platforms.
The primary goal of PXV Funds’ Series A and subsequent Series B financings will be advancing products and technologies from preclinical stages through early clinical development and the generation of proof-of-concept data in patients.
The PXV Funds are led by Chris Garabedian, Portfolio Manager, who also serves as Chairman and CEO of Xontogeny, a Boston-based accelerator that provides seed investments along with strategic and operational support to early-stage life sciences companies through its professional staff and network of consultants and service providers.
The PXV Fund II Investment Committee consists of Joe Edelman, CEO of Perceptive Advisors, Adam Stone, Chief Investment Officer of Perceptive Advisors and Chris Garabedian, Portfolio Manager. Fred Callori, Xontogeny’s SVP of Corporate Development and Ben Askew, PhD, Xontogeny’s Head of R&D, are also Partners in PXV Fund II.
FinSMEs
12/05/2021