BioVentures Investors has three funds currently under management; all focused on the commercial development of advanced technology in Life Sciences and Healthcare.
We know this industry. We have seen its potential from the inside, from the boardroom, the lab bench, and the patient bedside. Given economic and demographic trends, there is a rapidly growing market need; there are tremendous advances in biotechnology and materials science. This is a great opportunity for the informed and involved investor.
Historically, investing in private life sciences and healthcare equity has produced excellent returns for investors able to appropriately value both the technology and the strategic plans of potential investments. Because of the cyclical nature of the life sciences and healthcare public equity markets, we seek opportunities that build a defensive portfolio with a variety of liquidity options.
With the dynamic expansion in medical and life sciences research over the past 30 years, large, multinational pharmaceutical and medical device companies have come to rely on entrepreneurial, research-driven biotechnology and medical device companies to provide them with new products. This continues to drive a strong market for new ideas with demonstrated economic and medical value.
The three General Partners have all been CEOs of companies active in the life sciences and healthcare industry, with over 62 years of combined experience and a proven record of identifying and developing promising technologies. As a result, they have extensive networks in the biotechnology industry’s scientific, investment, and professional communities that can be leveraged by the firmâ€™s funded entrepreneurs.
We are active investors, taking board seats in most of our portfolio companies. We led or co-led six of the seven deals closed to date in Fund III.
BioVentures does not expect portfolio companies to achieve profitability or significant sales during its ownership. Instead, our focus is to finance clearly identified scientific experiments and operational goals, which, if successful, will reduce uncertainty and dramatically raise value. Our primary goal during the ownership period is to perfect the patent portfolio and demonstrate efficacy and utility.
Eastern Massachusetts is a world center for the development of life sciences and healthcare technology. The numerous basic science and clinical research institutions in the area allow the General Partners to remain current in the sciences and to access the opinions of leading researchers for deal evaluation. Furthermore, the Cambridge / Boston community is rich in support services in the firmâ€™s areas of interest, such as patent counsel, law firms, regulatory experts, accountants, bankers and business consultants.
The General Partners enjoy excellent, established relationships with the communities critical to building new companies. They have had decades of contact with the scientific, legal, investment and consulting organizations specializing in life sciences and healthcare. In addition, they have established reputations within life sciences and healthcare and bring added value to their investments in the form of management and scientific expertise.
Venture investing is time-consuming, and demands the active participation of fund Partners. Therefore, BioVenturesâ€™ funds have what the Partners believe is an optimal ratio of capital under management and Partner time allocation. Both the size of the firmâ€™s funds and the firmâ€™s proximity to emerging technology allows the Partners to work closely with portfolio companies, to meet regularly with the managers of new ventures, and to stay current on technology and the financial environment. The entire BioVentures team stays current with all portfolio investments, allowing any of us to step in when special expertise is required.
Historically, investing in private life science and healthcare equities has generally produced excellent returns for investors able to appropriately value both the technology and the strategic plan presented by potential investments. BioVentures invests in an assortment of new technologies at varied developmental stages to construct a “market basket” of ventures with varied risk profiles and time horizons, seeking multiple exit routes whenever possible. The firmâ€™s preference is to invest in a company at the first institutional round.
BioVentures currently has over $145 million under management. Investments in individual companies typically range from $3 to $7 million dollars. Fund Partners typically take board seats, or in those transactions in which we do not lead or co-lead, attend all Board meetings as observers. In our current fund, we hold board seats in all of our major investments.
|Cylene Pharmaceuticals||9/10||Series D||$12M||6|
|Claros Diagnostics||3/09||Series B||$4M||4|
|Biolex Therapeutics||10/08||Series D||$60M||12|
|Verax Biomedical||12/07||Series E||$2.54M||3|
|Verax Biomedical||6/07||Venture Round||$3M||1|