Aisling Capital Hauls $280M in Funding For Life Sciences Companies
New York-based venture capital firm Aisling Capital has closed its newest fund, raising $280 million in committed capital with a focus on improving global health.
Led by managing partners Steve Elms and Andrew Schiff, M.D., Aisling Capital will assist companies developing therapeutics to complete their clinical studies, obtain approval and reach commercialization. Portfolio companies gain access to the firm’s strategic counsel and experience in both financial and medical fields, along with its network that extends from regulatory organizations to pharmaceutical companies and financial institutions.
Though the $280 million it received this time is less than its previous round of $650 million back in 2009.
In its portfolio, it includes the antifungal immunotherapy and Cidara Therapeutics, sepsis diagnostics maker T2 Biosystems and Seragon Pharmaceuticals, which was acquired by Roche a couple years ago for an upfront amount of $725 million. Also, in September of 2017, it backed early-stage California based biotech company BridgeBio Pharma for its round that raised $135 million.
One of its more well-known backings is Immune Therapeutics, which currently has a $1.4B market cap, and just last year reported positive results from a mid-stage clinical test of its oral
immunotherapy AR101.Aisling Capital reports the $280 million will allow it “to continue helping clinical stage ventures improve global health by more rapidly bringing breakthrough medical treatments to market.”
“Today, every biotech company must develop treatments that generate significant upside for patient care through a profound impact on disease, fewer side effects, and a shift away from toxic therapies toward a personalized approach,” said Steve Elms, managing partner, Aisling Capital. “We are pleased to have the resources to continue to be a significant participant in our market and help the companies we invest in to achieve this goal.”
“We’re extremely excited about the fund’s potential and remain dedicated to increasing the number of quality medical treatments in development across a broad range of therapeutic areas including oncology, aesthetic dermatology, and women’s health,” stated Andrew Schiff, M.D., managing partner at Aisling Capital, in a release. “Over the last 17 years, we’ve helped bring to market some amazing medical innovations and look forward to getting these new treatments into the hands of people who need them as quickly and efficiently as possible.”