Frazier Life Sciences (FLS) has announced the closing of its twelfth venture fund, Frazier Life Sciences XII, L.P. (FLS XII), securing over $1.3 billion in capital commitments. This oversubscribed fund garnered significant support from both long-standing and new limited partners. Consistent with prior FLS venture funds, FLS XII will primarily focus on investing in company creation and early-stage private biopharmaceutical companies.
The firm has raised over $3.6 billion across five dedicated venture funds since 2016, and more than $1.7 billion in long-only public funds since 2021. Since 2020, FLS has launched 25 new companies. Some of their investments have resulted in acquisitions, such as Vertex Pharmaceuticals' purchase of Alpine Immune Sciences for $4.9 billion and Novartis' acquisition of Chinook Therapeutics for $3.5 billion. Frazier was also among the most active venture investors in 2024, backing 17 private life sciences companies.
Frazier Life Sciences has been involved in several noteworthy investments, including Alpine Immune Sciences (acquired by Vertex), Arcutis Biotherapeutics (NASDAQ: ARQT), Mirum Pharmaceuticals (NASDAQ: MIRM), NewAmsterdam Pharma (NASDAQ: NAMS), Tarsus Pharmaceuticals (NASDAQ: TARS), and Amunix Pharmaceuticals (acquired by Sanofi). The firm's recent investments have been in oncology, funding drugmakers such as Alentis Therapeutics, Tubulis, and Enlaza Therapeutics. It has also invested in emerging areas of drug research, such as Maze Therapeutics, a kidney disease treatment developer, and Sudo Biosciences, a TYK2 drugmaker.
Patrick Heron, Managing Partner at Frazier Life Sciences, expressed gratitude for the continued support of their limited partners, many of whom have been with them since the launch of their first dedicated venture fund in 2016. He added that with FLS XII, they look forward to continuing to work with exceptional entrepreneurs to advance therapeutic programs with the potential to address significant medical needs.
Frazier Life Sciences is headquartered in Palo Alto, CA, with offices in San Diego, Seattle, and Boston. The FLS team includes seven investment partners and a growing group of over 35 investment professionals, operating professionals, and senior advisors with broad biopharmaceutical experience across therapeutic areas and company stages. The firm takes a hands-on, collaborative approach to company building.
