Biomatics Capital Partners has raised $300 million for its second healthcare fund. The fund will focus on emerging companies with breakthroughs in diagnostics, therapeutics, R&D and clinical care. Investors include family offices and institutions.
SEATTLE, Nov. 8, 2018 /PRNewswire/ — Biomatics Capital Partners, a venture capital firm focused on advancing data-enabled healthcare innovations, has launched its second fund — raising $300 million to invest in emerging companies with breakthroughs in diagnostics, therapeutics, R&D and clinical care. Investors in the fund include a mix of family offices, institutions and individuals who are committed to bringing transformational ideas to the marketplace.
The announcement comes after Biomatics successfully completed its first fund, which invested $200 million into more than a dozen companies including GRAIL, Denali Therapeutics, Verana Health, Aledade, eGenesis, BlackThorn Therapeutics and Omniome. (View portfolio.)
In conjunction with the launch of its second fund, Biomatics Managing Directors Boris Nikolic, M.D., and Julie Sunderland announced they have added two venture partners to their team: Mike Poole, M.D., who recently led the Gates Foundation’s investment in R&D technologies and supported Bill Gates’ foray into new Alzheimer’s diagnostics and treatments; and Errik Anderson, a longtime biotech entrepreneur and investor based in Boston.
“We’ve gained incredible momentum in our first couple of years as we’ve seen our investments become a tangible force in moving big ideas closer to the patients who may ultimately benefit,” said Dr. Nikolic. “As we bring on two experienced venture partners for our second fund, we look forward to expanding our deal flow to include even more companies that seek to make a lasting impact on human health.”
In his role at Biomatics, Dr. Poole will seek out data- and genomics-enabled approaches to diagnose and treat neurological disorders. Prior to joining the Gates Foundation, Dr. Poole served as vice president and head of neuroscience innovation at AstraZeneca. He also specialized in neurodegenerative disease as chief medical officer for Link Medicine and Hypnion, and was vice president of neuroscience at Pfizer.
Mr. Anderson is founder and managing partner of Ulysses Diversified Holdings, which supports entrepreneurs with company creation and early-stage growth. He will join Biomatics’ new Boston office, along with investment associate Liz Birch. He will leverage his deep networks throughout the biotech and digital health sectors on the East Coast, as well as his vast experience building successful companies. Mr. Anderson is founder and executive chairman of Alloy Therapeutics and has cofounded numerous other biotech companies including Adimab, Compass Therapeutics and Alector.
“We are at an inflection point today in the development of new therapeutics and diagnostics, with a growing trove of data that will lead to improvements across healthcare, from drug discovery to clinical practice,” Ms. Sunderland said. “With the addition of Mike and Errik, we will continue to combine the best of science with sound investment practice to make inroads into high-need areas of healthcare.”
Biomatics estimates that it will invest in 15-20 companies through Fund II. Biomatics invests primarily in early-stage investments but may also invest in later-stage rounds. Initial investments typically range from $5 million to $10 million, with up to $30 million over the life of the investment. With early-stage investments, Biomatics takes an active role in supporting startups with hiring, intellectual property, regulatory issues and exit strategy.
“We are decidedly not dogmatic about when we choose to invest in a portfolio company,” Ms. Sunderland said. “The bottom line is that we want great people and transformational science. We don’t want to do incremental.”
About Biomatics Capital
Biomatics Capital invests in transformational innovation at the intersection of healthcare and technology. Co-founders and General Partners Dr. Boris Nikolic and Julie Sunderland have invested together in emerging technology, health care and life science ventures since 2010, leveraging their deep technical knowledge and partnering expertise with an established network of leading academics, pharma executives and venture capital firms. For more information, visit www.biomaticscapital.com.