Frazier racks up more than $617 mln for fund

Frazier Healthcare Partners has closed its 12th life sciences fund at more than $617 million.

Frazier Healthcare Partners has closed its 12th life sciences fund at more than $617 million. Frazier Life Sciences X will invest in early-stage venture and late private/public opportunities, with two-thirds of its investments expected to be in seed and Series A rounds.

Correction: A previous version of this news report misstated Frazier’s fund as its 10th. That was incorrect and the information has since been rectified. 

PRESS RELEASE

MENLO PARK, Calif., Jan. 16, 2020 /PRNewswire/ — Frazier Healthcare Partners announced today the closing of Frazier Life Sciences X, L.P., exceeding its target and closing on more than $617 million in capital commitments in an oversubscribed fundraise. Investing in life sciences has been a core strategy since the firm’s inception 29 years ago, and Frazier Life Sciences X marks the third dedicated Life Sciences fund, bringing the firm’s total committed capital raised since inception to nearly $4.8 billion.

Led by General Partners Patrick Heron, James Topper and Dan Estes, the Frazier Life Sciences team invests primarily in therapeutics-focused companies developing and commercializing innovative biopharmaceuticals that address important unmet medical needs. Frazier Life Sciences X will continue its three-pronged strategy of investing in company creation, early-stage venture and late private/public opportunities, with two-thirds of its investments expected to be in Seed and Series A rounds.

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

Recent Frazier Life Sciences IPOs and exits include Acerta (acquired by AstraZeneca), Mirum Pharmaceuticals (NASDAQ: MIRM), and Ignyta (acquired by Roche), as well as Frazier-founded companies Mavupharma (acquired by AbbVie), Phathom Pharmaceuticals (IPO: PHAT), and Silvergate Pharmaceuticals (acquired by CutisPharma). The Frazier Life Sciences team has created or seeded 23 companies since 2005.

About Frazier Healthcare Partners
Founded in 1991, Frazier Healthcare Partners is a leading provider of growth and venture capital to healthcare companies. With nearly $4.8 billion total capital raised, Frazier has invested in over 200 companies, with investment types ranging from company creation and venture capital to buyouts of profitable lower-middle market companies. The firm’s Growth Buyout team invests in healthcare and pharmaceutical services, medical products and related sectors. The Life Sciences team invests in therapeutics and related areas that are addressing unmet medical needs through innovation. Frazier has offices in Seattle, WA, and Menlo Park, CA, and invests broadly across the U.S., Canada and Europe.

For more information about Frazier Healthcare Partners, visit the company’s website at http://www.frazierhealthcare.com.