5AM Ventures Passes Target on Fund Three

5AM Ventures, an early-stage venture capital firm focused on life sciences, has passed $150 million fundraising target on its third fund, according to a regulatory filing. It now has $159.2 million in capital commitments from 34 accredited investors, compared to $119.25 million disclosed in an April filing.

The firm’s second fund closed in 2006 with $150 million.

Based in Waltham, Mass., and Menlo Park, Calif., 5AM was formed in 2004, raising a $65 million fund. It’s led by managing partners Andrew Schwab, Scott Rocklage and John Diekman.

Recent 5AM investments include: Ambrx Inc., a La Jolla, Calif.-based developer of genetically-engineered protein therapeutics; Relypsa Inc., a Santa Clara, Calif.-based developer of polymeric drugs; and Pearl Therapeutics, a Redwood City, Calif.-based drug developer focused on respiratory disorders.

peHUB has requested comment from 5AM, and will update if we hear back…