Biomatics Capital Partners, a Seattle, WA-based venture capital firm focused on advancing data-enabled healthcare innovations, launched its second fund — raising $300m.
Investors in the vehicle include a mix of family offices, institutions and individuals.
Led by Managing Directors Boris Nikolic, M.D., and Julie Sunderland, the fund will invest in emerging companies with breakthroughs in diagnostics, therapeutics, R&D and clinical care.
Biomatics estimates that it will invest in 15-20 companies through Fund II.
The firm invests primarily in early-stage investments but may also invest in later-stage rounds. Initial investments typically range from $5m to $10m, with up to $30m 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.
In conjunction with the launch of its second fund, the firm 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.
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, he served as vice president and head of neuroscience innovation at AstraZeneca. Dr. Poole 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. Mr. Anderson 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. He is founder and executive chairman of Alloy Therapeutics and has cofounded numerous other biotech companies including Adimab, Compass Therapeutics and Alector.
The announcement comes after Biomatics successfully completed its first fund, which invested $200m into more than a dozen companies including GRAIL, Denali Therapeutics, Verana Health, Aledade, eGenesis, BlackThorn Therapeutics and Omniome.
FinSMEs
08/11/2018