SAN FRANCISCO–(BUSINESS WIRE)–venBio today announced the closing of venBio Global Strategic Fund V (“venBio Fund V”), its fifth life sciences venture capital fund, exceeding its target and closing on approximately $528 million in capital commitments in an oversubscribed fundraise. The firm initiated the fundraise for Fund V in mid-April. Limited partners of Fund V include a broad range of institutional investors comprising sovereign wealth funds, corporate pensions, financial institutions, university endowments, medical institutions, foundations, family offices and funds-of-funds.
Under the fund leadership of Managing Partners Richard Gaster, M.D., Ph.D., Corey Goodman, Ph.D., and Aaron Royston, M.D., venBio Fund V will maintain its focus on life science companies that are developing biopharmaceuticals to address unmet medical needs. The venBio team takes an active role with each portfolio company, providing strategic guidance on a range of research, clinical, and business activities. venBio seeks opportunities spanning all stages of clinical development, with a focus on those providing meaningful clinical data and value inflection within three to five years.
“With a highly concentrated portfolio and active involvement in each company, we are proud to have helped build companies that have achieved nine FDA drug approvals over the past six years, with many more generating promising clinical efficacy and safety data,” said Dr. Royston. “This cohort of companies has generated significant value for venBio, and it’s motivating to recognize that by turning science into impactful medicine, our firm and our partners have been rewarded.”
Dr. Goodman commented, “Our portfolio is directly impacting patient lives, and we could not have achieved this without the ongoing commitment from our limited partners. Fund V is structured to enable us to continue our proven approach of being highly selective in company building, while doubling down on winners around key inflection points, including in crossover rounds and at IPO.”
Dr. Gaster added, “We are also delighted to announce that with the closing of Fund V, our colleague Dr. Yvonne Yamanaka has been promoted to Partner. In structuring Fund V, our primary goal was to maintain consistency in our strategy, core team and investment discipline, and we look forward to her continued contributions to the firm.”
About venBio Partners
Since inception in 2011, venBio has raised roughly $2B billion in capital commitments and led investment rounds in 40+ companies, including Labrys Biologics (acquired by Teva), Aragon Pharmaceuticals (acquired by Johnson & Johnson), Seragon Pharmaceuticals (acquired by Roche), Aurinia Pharmaceuticals (NASDAQ: AUPH), Apellis Pharmaceuticals (NASDAQ: APLS), Checkmate Pharmaceuticals (NASDAQ: CMPI, acquired by Regeneron), Turning Point Therapeutics (NASDAQ: TPTX, acquired by BMS), Akero Therapeutics (NASDAQ: AKRO), Harmony Biosciences (NASDAQ: HRMY), Pharvaris (NASDAQ: PHVS), CinCor Pharma (NASDAQ: CINC, acquired by Astra Zeneca), RayzeBio (NASDAQ: RYZB, acquired by BMS), and many others. For more information, visit the venBio website at www.venbio.com and follow on LinkedIn.
