Perceptive And Xontogeny’s Second VC Fund Brings In $515m

Fund II Is More Than Double Their $210m Fund I In 2019

 
• By Mandy Jackson
  
Generate a summary of this article
Listen to this article
Beta

The strategy for both funds is to back companies with a preclinical drug candidate that can be advanced through clinical proof-of-concept with a mid-sized series A round. 

Wooden blocks with blue up arrows
Perceptive and Xontogeny have tripled the amount of venture capital they have under management • Source: Alamy

Perceptive Advisors and Xontogeny LLC thought their first $210m venture capital fund, known as Perceptive Xontogeny Venture Fund I (PXV Fund I), was differentiated from other VC funds, but the niche the investors sought to fill had even more demand from high-quality start-ups than anticipated. That’s one reason why, just 18 months later, they closed the $515m Perceptive Xontogeny Venture Fund II (PXV Fund II) on 12 May with more than two times the capital they raised in the first fund.

Xontogeny CEO and chairman Chris Garabedian told Scrip that “I was pleasantly surprised with the number of companies that wanted...

Scrip Podcast

Keep up with the top pharma business news of the week. On the go.

Scrip brings you a weekly bulletin of top picks.

SpotifyApple PodcastsWebsite

More from Financing

More from Business

  • How A New Healthcare Dialogue Is Driving Market Access In Mexico

    Companies stand a better chance of securing public reimbursement in Mexico for innovative medicines if they understand changing approaches to healthcare. The shift means the emergence of managed entry agreements and a focus on economic impact, explains AMIIF, Mexico's research-based pharmaceutical industry association.

  • How Novartis Is Elevating CVD Outcomes, Driving ‘Personalized Access’ In APMA

    Novartis’s APMA chief outlines the company’s tailored approach to deliver long-term outcomes, novel access solutions via innovative financing options and shape the CVD disease ecosystem in the extraordinarily diverse region. Partnering to build AI infrastructure is another key prong.

  • India Rare Diseases: Court Shows Path For Policy Action, Funding, Price Issues-- Test-2

    A court order encompassing funding, drug pricing, clinical trials and overall policy implementation aspects is expected to bring about a paradigm shift in the treatment of rare diseases in India. Sarepta, Roche and Sanofi are among the key players that have been part of pricing discussions.