Led by Managing Partners Corey Goodman, Ph.D., Robert Adelman, M.D., and Aaron Royston, M.D., venBio Fund III will continue to invest primarily in therapeutics companies that are developing biopharmaceuticals for unmet medical needs. The venBio team typically leads or co-leads investments and takes an active role with each of their portfolio companies.
"We are grateful for the tremendous support we have received from our current investors during this fundraise," said Dr. Adelman. "We appreciate their ongoing commitment and welcome the broad range of new top-tier investors who have joined them."
"We remain committed to our founding strategy at venBio, namely to turn great science into impactful medicine," said Dr. Goodman. "Our investment thesis, regardless of stage of company, remains to look for investment opportunities with a 3- to 5-year time horizon."
"In addition to generating strong financial returns, we're proud of the impact our portfolio companies have made on patients," said Dr. Royston. "We've actively helped build three companies that have developed approved drugs that are on the market today."
In conjunction with the new fund, venBio has promoted Richard Gaster M.D., Ph.D., to Partner. Dr. Gaster was previously head of translational medicine at Pliant Therapeutics and a Senior Associate at Third Rock Ventures. Prior to Third Rock, he was a resident physician in Harvard's Plastic and Reconstructive Surgery Program and received his M.D. and Ph.D. degrees from Stanford University in the Medical Scientist Training Program.
About venBio Partners
Established in 2011, venBio Partners is a life science venture capital firm that focuses on novel therapeutics for unmet medical needs. Since inception, venBio has raised nearly $1 billion in capital commitments and has invested in 29 companies including venBio-founded Labrys Biologics (acquired by Teva), Aragon Pharmaceuticals (acquired by Johnson & Johnson), Seragon Pharmaceuticals (acquired by Roche), Aurinia Pharmaceuticals (NASDAQ: AUPH), Apellis Pharmaceuticals (NASDAQ: APLS), Turning Point Therapeutics (NASDAQ: TPTX), Precision Biosciences (NASDAQ: DTIL) and Akero Therapeutics (NASDAQ: AKRO). For more information, please visit www.venbio.com .
Source: venBio Partners LLC