VenBio Closes $528 Million Venture Fund

<p><strong>SAN FRANCISCO<&sol;strong> &&num;8212&semi; Venture capital firm venBio has closed venBio Global Strategic Fund V &lpar;&OpenCurlyDoubleQuote;venBio Fund V”&rpar;&comma; its fifth life sciences venture capital fund&comma; exceeding its target and closing on approximately &dollar;528 million in capital commitments&period; The firm initiated the fundraise for Fund V in mid-April&period; Limited partners of Fund V include a broad range of institutional investors comprising sovereign wealth funds&comma; corporate pensions&comma; financial institutions&comma; university endowments&comma; medical institutions&comma; foundations&comma; family offices and funds-of-funds&period;<&sol;p>&NewLine;<p>Under the fund leadership of Managing Partners Richard Gaster&comma; M&period;D&period;&comma; Ph&period;D&period;&comma; Corey Goodman&comma; Ph&period;D&period;&comma; and Aaron Royston&comma; M&period;D&period;&comma; venBio Fund V will maintain its focus on life science companies that are developing biopharmaceuticals to address unmet medical needs&period; The venBio team takes an active role with each portfolio company&comma; providing strategic guidance on a range of research&comma; clinical&comma; and business activities&period; venBio seeks opportunities spanning all stages of clinical development&comma; with a focus on those providing meaningful clinical data and value inflection within three to five years&period;<&sol;p>&NewLine;<p>&OpenCurlyDoubleQuote;With a highly concentrated portfolio and active involvement in each company&comma; we are proud to have helped build companies that have achieved nine FDA drug approvals over the past six years&comma; with many more generating promising clinical efficacy and safety data&comma;” said Dr&period; Royston&period; &OpenCurlyDoubleQuote;This cohort of companies has generated significant value for venBio&comma; and it’s motivating to recognize that by turning science into impactful medicine&comma; our firm and our partners have been rewarded&period;”<&sol;p>&NewLine;<p>Since inception in 2011&comma; venBio has raised roughly &dollar;2B billion in capital commitments and led investment rounds in 40&plus; companies&comma; including Labrys Biologics &lpar;acquired by Teva&rpar;&comma; Aragon Pharmaceuticals &lpar;acquired by Johnson &&num;038&semi; Johnson&rpar;&comma; Seragon Pharmaceuticals &lpar;acquired by Roche&rpar;&comma; Aurinia Pharmaceuticals &lpar;NASDAQ&colon; AUPH&rpar;&comma; Apellis Pharmaceuticals &lpar;NASDAQ&colon; APLS&rpar;&comma; Checkmate Pharmaceuticals &lpar;NASDAQ&colon; CMPI&comma; acquired by Regeneron&rpar;&comma; Turning Point Therapeutics &lpar;NASDAQ&colon; TPTX&comma; acquired by BMS&rpar;&comma; Akero Therapeutics &lpar;NASDAQ&colon; AKRO&rpar;&comma; Harmony Biosciences &lpar;NASDAQ&colon; HRMY&rpar;&comma; Pharvaris &lpar;NASDAQ&colon; PHVS&rpar;&comma; CinCor Pharma &lpar;NASDAQ&colon; CINC&comma; acquired by Astra Zeneca&rpar;&comma; RayzeBio &lpar;NASDAQ&colon; RYZB&comma; acquired by BMS&rpar;&comma; and many others&period; <&sol;p>&NewLine;