Frazier Life Sciences raises practically $1B for brand spanking new enterprise fund targeted on earlier-stage firms
Frazier Life Sciences introduced the closure of a $987 million fund targeted on biopharmaceuticals. The life sciences arm of the enterprise capital agency Frazier Healthcare Companions exceeded its $800 million goal.
The fund will deal with firm creation and earlier-stage enterprise funding (Collection A and B), with 80% put aside for personal firms, common accomplice Dan Estes informed Endpoints Information. Public firms will obtain 20%. The fund, known as FLS XI, will likely be led by Estes and companions Patrick Heron and James Topper, who’re all based mostly in Menlo Park, Calif. The fund’s predecessor, FLX X, raised $617 million in 2020.
The brand new fund augments a $831 million public fund (FLSPF) that Frazier Life Sciences raised in 2021 to put money into public firms and late-stage personal firms.
Frazier’s life sciences portfolio ranges from biotech startups to bigger, public firms. The agency lately invested in preclinical cell remedy firm Sonoma Biotherapeutics, which is predicated in South San Francisco and has operations in a lab on Seattle’s waterfront. It additionally lately led a $91 million personal placement funding spherical for Alpine Immune Sciences, to assist scientific trials on the Seattle public firm.
“Between FLS XI and FLSPF, we now have over $1.8 billion of lively funds to assist biopharmaceutical firms in any respect levels of progress, from firm formation by way of public choices,” mentioned Topper in a press release.
Frazier Life Sciences is headquartered in Menlo Park and has places of work in Seattle, Boston, London and different cities.
