Frazier Life Sciences (FLS), a healthcare investment firm focused on innovative therapeutics, announced it has closed on over $630 million in capital commitments to its evergreen Public Fund from new and existing investors in an oversubscribed fundraise.
Launched as a dedicated vehicle three years ago, the FLS Public Fund has raised about $1.7 billion under the leadership of Albert Cha, Jamie Brush, Jamie Topper and Patrick Heron. And the Public Fund is long-only and designed to navigate volatility and liquidity in small- and mid-cap public biotech companies. The Public Fund also has the flexibility to invest in later stage private companies via crossover financings.
Since the Public Fund’s funding, several of the Fund’s largest positions have been acquired including Sierra Oncology (acquired by GSK for $1.9 billion), Chinook Therapeutics (acquired by Novartis for up to $3.5 billion) and Alpine Immune Sciences (acquired by Vertex Pharmaceuticals for $4.9 billion).
KEY QUOTES:
“We’re pleased by the strong growth and meaningful milestones we’ve seen from many companies in our portfolio within the Fund’s first three years. We are grateful to have the support of our limited partners, who appreciate the positive impact the therapeutics we invest in can have on patients.”
-Albert Cha, Managing Partner at FLS
“Since 2010, FLS companies have received FDA approval for over 50 new therapeutics. We look forward to continuing to invest in management teams that we believe drive innovation and deliver transformational treatments to patients in need.”
-Jamie Brush, General Partner and Portfolio Manager at FLS
