Palo Alto, Calif. — Frazier Life Sciences announced the closing of more than $1.1 billion in capital commitments to its Public Fund from new and existing investors, bringing total committed capital to approximately $2.8 billion.
The oversubscribed fundraiser expands the investment firm’s capital base for investments in small- and mid-cap public biotechnology companies and later-stage private biotech companies.
Launched as a dedicated vehicle in 2021, the Frazier Life Sciences Public Fund is led by Albert Cha, M.D., Ph.D., Jamie Brush, M.D., Patrick Heron and Jamie Topper, M.D., Ph.D.
The long-only fund is designed to invest through volatility and liquidity changes in small- and mid-cap public biotech companies. It can also invest in later-stage private companies through crossover financing.
Since its launch, several of the fund’s largest portfolio positions have been acquired, including Verona Pharma, which was acquired by Merck for $10 billion, and Alpine Immune Sciences, which was acquired by Vertex Pharmaceuticals for $4.9 billion.
“We greatly appreciate the strong support from the institutional investor community of our fund, which enables us to pursue our mission of investing in therapeutics that we believe can change the standard of care,” said Albert Cha, M.D., Ph.D., Managing Partner at Frazier Life Sciences. “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.”
“Frazier is committed to funding transformative innovation in life sciences,” said Jamie Brush, M.D., General Partner and Portfolio Manager 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.”
