Life Sciences Specialist venBio Closes $528 Million Fifth Fund

VenBio Partners has held an above-target and oversubscribed closing of its fifth fund, venBio Global Strategic Fund V LP, with $528 million in capital commitments.

Fundraising for Fund V began in April 2024. Institutional limited partners in the new fund include sovereign wealth funds, corporate pensions, financial institutions, university endowments, medical institutions, foundations, family offices, and funds-of-funds.

venBio invests in life sciences companies at various stages of clinical development, spanning from seed funding to Series C and beyond. The firm has a specific interest in biopharmaceutical businesses that are addressing unmet medical needs. Over the past six years, venBio’s portfolio companies have received nine FDA drug approvals. venBio Fund V is led by Managing Partners Richard Gaster, M.D., Ph.D., Corey Goodman, Ph.D., and Aaron Royston, M.D.

“Our portfolio is directly impacting patient lives, and we could not have achieved this without the ongoing commitment from our limited partners,” said Dr. Goodman. “Fund V is structured to enable us to continue our proven approach of being highly selective in company building, while doubling down on winners around key inflection points, including in crossover rounds and at IPO.”

venBio’s investment portfolio includes companies that have made significant strides in the life sciences sector. Some notable examples are Labrys Biologics (sold to Teva Pharmaceuticals), Aragon Pharmaceuticals (sold to Johnson & Johnson), Seragon Pharmaceuticals (sold to Roche), Aurinia Pharmaceuticals (traded on the NASDAQ as AUPH), Apellis Pharmaceuticals (NASDAQ: APLS), and Checkmate Pharmaceuticals (NASDAQ: CMPI).

“This cohort of companies has generated significant value for venBio, and it’s motivating to reco gnize that by turning science into impactful medicine, our firm and our partners have been rewarded,” said Dr. Royston.

Simultaneous with the closing of Fund V, Dr. Yvonne Yamanaka was promoted to Partner at venBio.

“We are also delighted to announce that with the closing of Fund V, our colleague Dr. Yvonne Yamanaka has been promoted to Partner,” said Dr. Gaster. “In structuring Fund V, our primary goal was to maintain consistency in our strategy, core team, and investment discipline, and we look forward to her continued contributions to the firm.”

The life sciences sector is witnessing rapid growth, driven by advancements in biopharmaceuticals and substantial investments in medical innovations. According to market projections, the global biopharmaceutical market is expected to reach $526 billion by 2028, with a compound annual growth rate (CAGR) of 7.2% from 2021 to 2028. Factors such as the rising prevalence of chronic diseases, an aging population, and the demand for advanced treatments are significant drivers of this growth.

San Francisco-headquartered venBio was founded in 2011 and has raised a total of $2 billion in capital and has invested in more than 40 life sciences companies.