MENLO PARK, California — California-based 5AM Ventures has raised $119.25 million for its third venture fund, which will close at at least $150 million, according to Venturebeat.
5AM Ventures specializes in seed and early-stage life science and biopharmaceutical companies, according to its Web site. It invests in companies with “validated and often later-stage technologies or products” as well as “academic initiatives that have been developed beyond the basic laboratory stage as well as through corporate spin-outs,” according to its site.
Its portfolio companies are largely based in California and Massachusetts, but includes Indiana’s Marcadia Biotech. Venturebeat points out that 5AM has had four exits, all from its first fund, including Amgen’s purchase of renal disorder drug-maker Ilypsa’s for $420 million.
A Deep-dive Into Specialty Pharma
A specialty drug is a class of prescription medications used to treat complex, chronic or rare medical conditions. Although this classification was originally intended to define the treatment of rare, also termed “orphan” diseases, affecting fewer than 200,000 people in the US, more recently, specialty drugs have emerged as the cornerstone of treatment for chronic and complex diseases such as cancer, autoimmune conditions, diabetes, hepatitis C, and HIV/AIDS.
