Frazier Healthcare Partners raises $617m for life sciences fund

Frazier Healthcare Partners has closed its third life sciences fund – Frazier Life Sciences X, at more than $617 million in capital commitments.

The Seattle-based private equity and venture capital firm has been investing in life sciences since more than 29 years ago

Since its inception, Frazier Healthcare Partners has raised its total committed capital to approximately $4.8 billion.

Headed by general partners Patrick Heron, Dan Estes, and James Topper, the Frazier Life Sciences team mainly invests across therapeutics-focused firms that develop and commercialize innovative biopharmaceuticals that address major unmet medical needs.

According to Frazier Healthcare Partners, Frazier Life Sciences X will continue a three-pronged strategy of investing in the creation of companies, early-stage venture, and late private/public opportunities. Two-thirds of its investments are likely to be made in Seed and Series A rounds, said the private equity and venture capital firm.

Frazier Healthcare Partners raises $617m for life sciences fund. Photo courtesy of mohamed Hassan from Pixabay.

Patrick Heron said: “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.

“We were also happy to welcome a small number of new, high-quality institutional investors to our fund.”

The IPOs and exits of Recent Frazier Life Sciences include Acerta, which was acquired by AstraZeneca, Mirum Pharmaceuticals, and Ignyta – which was acquired by Roche. The company had also founded companies such as Mavupharma, which was acquired by AbbVie, Phathom Pharmaceuticals, and Silvergate Pharmaceuticals, which was acquired by CutisPharma.

Since 2005, the Frazier Life Sciences team has either founded or seeded 23 companies.