On January 16, 2020 Frazier Healthcare Partners reported the closing of Frazier Life Sciences X, L.P., exceeding its target and closing on more than $617 million in capital commitments in an oversubscribed fundraise (Press release, Frazier Healthcare, JAN 16, 2020, View Source [SID1234553297]). Investing in life sciences has been a core strategy since the firm’s inception 29 years ago, and Frazier Life Sciences X marks the third dedicated Life Sciences fund, bringing the firm’s total committed capital raised since inception to nearly $4.8 billion.
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Led by General Partners Patrick Heron, James Topper and Dan Estes, the Frazier Life Sciences team invests primarily in therapeutics-focused companies developing and commercializing innovative biopharmaceuticals that address important unmet medical needs. Frazier Life Sciences X will continue its three-pronged strategy of investing in company creation, early-stage venture and late private/public opportunities, with two-thirds of its investments expected to be in Seed and Series A rounds.
"We are extremely grateful to our limited partners for their continued support of our Life Sciences strategy, which includes creating innovative therapeutics through company creation, early-stage venture, and late private and public investing," said Patrick Heron. "We were also happy to welcome a small number of new, high-quality institutional investors to our fund."
Recent Frazier Life Sciences IPOs and exits include Acerta (acquired by AstraZeneca), Mirum Pharmaceuticals (NASDAQ: MIRM), and Ignyta (acquired by Roche), as well as Frazier-founded companies Mavupharma (acquired by AbbVie), Phathom Pharmaceuticals (IPO: PHAT), and Silvergate Pharmaceuticals (acquired by CutisPharma). The Frazier Life Sciences team has created or seeded 23 companies since 2005.