Frazier Sees Opportunity For New $987m Fund Despite Financial Market Turmoil
Start-Ups, Growth-Stage And Public Investments All Targeted
Frazier Life Sciences managing partner James Topper described how the firm will use its 11th fund to launch new companies, support growing firms and take advantage of public market opportunities.
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Public Company Edition: The last biopharma IPO in the US was on 17 February and none have been scheduled, so far, for March. Also, another SPAC merger is called off, Travere sells $275m worth of notes and Xeris secures $150m in new debt, while Ovid, Passage Bio and others are cutting jobs.
Both Atlas and Foresite Capital announced new funds focused on start-ups. Also, Flagship launched Vesalius with $75m in initial funding, Innoviva sold $225m in notes, Hookipa priced a $75m follow-on offering and job cuts were revealed by Epizyme, Flexion, Deciphera and Gemini.
Venture capitalists speaking at Biocom’s Global Life Science Partnering Conference looked forward to a return to rational valuations that could enable better returns for investors and pharma buyers.