Frazier Life Sciences has raised more than $1.1 billion in new commitments for its Public Fund through an oversubscribed fundraising, bringing total committed capital for the strategy to approximately $2.8 billion.
The fund focuses primarily on small- and mid-cap publicly traded biotechnology companies while retaining the ability to invest in later-stage private companies through crossover financings.
The strategy launched as a dedicated vehicle in 2021 and is led by Albert Cha, M.D., Ph.D., Jamie Brush, M.D., Patrick Heron and Jamie Topper, M.D., Ph.D.
Frazier designed the long-only fund to navigate the volatility and liquidity characteristics of emerging and mid-sized biotech companies while identifying therapeutics with the potential to significantly change standards of care.
Several of the fund’s largest historical holdings have subsequently been acquired.
Verona Pharma was acquired by Merck for $10 billion, while Alpine Immune Sciences was acquired by Vertex Pharmaceuticals for $4.9 billion.
The new capital gives Frazier additional capacity to invest as clinical trial readouts, regulatory approvals and commercial launches create new opportunities throughout the biotechnology sector.
Across its broader platform, Frazier Life Sciences manages more than $6.9 billion through venture funds and its public strategy. More than 50 of its portfolio companies have completed IPOs or M&A transactions since 2015.
“With the continued momentum we have seen from promising clinical trials, FDA approvals, and successful commercial launches both within and outside our portfolio, we are excited about the future potential of biotechnology.”
Albert Cha, M.D., Ph.D., Managing Partner at Frazier Life Sciences
“With the continued backing of our Limited Partners, we hope to support the development of life-changing new medicines across a wide spectrum of diseases.”
Jamie Brush, M.D., General Partner and Portfolio Manager at Frazier Life Sciences
