5AM Venture Management, LLC (5AM) of San Francisco, CA and Boston, MA announced on 2/13/19 the closing of two new venture capital funds, totaling $497 million in committed capital. The capital was raised from a broad range of institutional investors including corporate and public pensions, endowments and foundations, family offices and funds-of-funds. 5AM Ventures VI, L.P. is a $350 million venture capital fund focused on building new biotech companies.
In addition, 5AM closed its inaugural coinvestment fund, 5AM Opportunities I, L.P., which will target existing 5AM portfolio companies where there are opportunities to invest additional capital. Since inception, 5AM has raised approximately $1.5 billion for investments in innovative life science companies. Created by seasoned industry executives and experienced venture capitalists, the 5AM team takes a focused, hands-on approach to company building. 5AM will continue to target early-stage life science companies with investments focused on the discovery and development of therapeutics, drug delivery technologies and research instruments and reagents. Within each sector, the firm will invest across therapeutic areas and will consider opportunities based on innovative platform technologies, corporate spin-outs and products with shorter development cycles.
Founded in 2002, 5AM actively invests in next-generation biotech companies. With approximately $1.5 billion raised since inception, 5AM has invested in 73 companies including Arvinas (NASDAQ: ARVN), Audentes Therapeutics (NASDAQ: BOLD), Crinetics Pharmaceuticals (NASDAQ: CRNX), DVS Sciences (acquired by Fluidigm), Envoy Therapeutics (acquired by Takeda), Flexion Therapeutics (NASDAQ: FLXN), Homology Medicines (NASDAQ: FIXX), Ikaria (acquired by Mallinckrodt), Ilypsa (acquired by Amgen), Marcadia Biotech (acquired by Roche), Novira Therapeutics (acquired by J&J), Pearl Therapeutics (acquired by AstraZeneca) and Relypsa (acquired by Vifor Pharma).