February 21, 2019
MPM Capital Raises $400 Million to Fund Early-Stage Biotech Innovation
Cambridge, MA and Brisbane, CA – February 21, 2019 – MPM Capital, a life-sciences venture capital firm investing in early-stage therapeutics companies, announced today the closing of its seventh venture fund, BioVentures 2018 (BV2018). MPM is currently investing out of BV2018 and its two oncology-only funds with a total of over $1 billion in capital.
With BV2018, MPM will continue to create and invest in innovative companies developing breakthrough therapies to treat severe unmet medical needs. The fund will focus on disruptive scientific developments across multiple therapeutic areas including oncology, immunology and neuroscience as well as emerging modalities of cell, gene and nucleic acid therapies.
“We’re grateful for our investors’ support of BV2018, which will allow us to continue to pursue our proven company-building strategy with the goal of improving healthcare outcomes while creating value for our investors,” said Ansbert Gadicke, M.D., co-founder and Managing Director of MPM. “The opportunity to drive innovation in drug development is more attainable than ever before. We believe this is particularly true in oncology where MPM has 29 oncology portfolio investments and approximately $1 billion of capital dedicated to developing novel cancer therapies.”
At the core of MPM’s company-building strategy is a team of fifteen Executive Partners working in close collaboration with the investment team to jointly harness scientific creativity, entrepreneurship, and financial and business insights. The Executive Partner team includes senior biopharma leaders with decades of experience in drug discovery, clinical development and commercialization. MPM’s team is involved in all aspects of company building, from identifying and evaluating new opportunities to creating companies and assuming senior leadership roles across the portfolio. Recent examples of companies founded and led by MPM Executive Partners include Harpoon Therapeutics and TCR2 Therapeutics, both of which recently completed IPOs, and Mitobridge and Potenza Therapeutics, both of which were recently acquired.
Since its first fund in 1997, MPM has raised $3.9 billion of capital. MPM’s BioVentures portfolio has collectively boasted 49 FDA-approved drugs and realized over 100 IPOs and acquisitions. With BV2018, MPM will continue to capitalize on favorable industry trends and the unprecedented rate of biomedical discovery and, importantly, leverage its well-established academic and industry relationships.
“Over two decades of investing, MPM has developed long-standing and strategic partnerships with academia, biotech and large pharma,” said Luke Evnin, Ph.D., co-founder and Managing Director of MPM. “Vital to our objective of delivering new treatments to improve the lives of patients, these relationships support our ongoing discovery of next-generation translational science and provide financing and acquisition opportunities across our portfolio.”
About MPM Capital
MPM Capital is a healthcare investment firm with over two decades of experience founding and investing in life-sciences companies that seek to translate scientific innovations into cures for major diseases. With its experienced and dedicated team of investment professionals and Executive Partners, MPM strives to power novel medical breakthroughs that transform patients’ lives. The firm invests across three vehicles: BV2018, a venture capital fund; an oncology-only crossover fund (both private and public equities); and another oncology-focused investment initiative with Dana-Farber Cancer Institute. For more information visit www.mpmcapital.com