Scion Life Sciences, a New York City-based life sciences venture capital firm dedicated to founding and building biotechnology companies, held the final close of its inaugural fund, at $310m.
An affiliate of Petrichor, Scion Life Sciences is dedicated to founding and building biotechnology companies that discover, develop, and seek to commercialize clinically transformational or curative new medicines.
Founded and led by Samuel W. Hall, PhD, and Aaron M. Kantoff, together with Tadd S. Wessel, founder, and Managing Partner of Petrichor, Scion aims to create medicines that cure or transform the clinical management of serious and life-threatening diseases and this overriding objective informs every aspect of the firm’s strategy and approach. The firm forms and builds companies around translational innovations with the right bone structure to become clinically important medicines and is structured to support portfolio companies with the long-term capital and operational resources required to realize the mature clinical potential of the therapies they discover and develop.
Scion is able to make initial investments as small as a few thousand dollars in early-stage incubation efforts but is resourced to cumulatively deploy $60m or more over the life of each portfolio company investment and to support promising portfolio companies from pre-seed stage through to IPO and beyond.
The firm leverages an asset selection strategy built on three investment pillars to mitigate risk and increase the probability of delivering transformational medicines for patients:
- Invest in therapeutic modalities and enabling technologies that are sufficiently mature to make clinically important medicines today or in the near term
- Invest in therapeutic areas, diseases, and drug targets where deep understanding of the underlying science makes powerful intervention possible
- Focus on clinical problems that can be addressed with the resources available to an independent biotechnology company
Petrichor partners with world-class healthcare managers and businesses to provide customized investment structures and support. The Petrichor team has completed over 125 investments representing more than $6 billion in invested capital and has held over 55 board seats. Petrichor maintains a deep in-house understanding of healthcare products and services, including scientific, technical, and commercial expertise. This healthcare expertise, together with a breadth of experience investing across sectors, geographies, and capital structures, provides a unique combination to help build companies.