Venture luminary Frazier Healthcare just closed an overcommitted $377 million fund, and now the Seattle investor has a biotech veteran onboard to help it make bets in life sciences, recruiting former Calistoga Pharmaceuticals CEO Carol Gallagher to serve as partner.
Amid renewed optimism in biotech venture capital, Seattle stalwart Frazier Healthcare has pulled down a $377 million fund, surpassing its goal as it scouts for the next wave of emerging drug developers.
A new report on the future growth in pharma packaging says a move toward use of more contract operations like Frazier's PCI will be a big driver for those companies that make the plastic bottles, parental containers, blister packs, labels and other products that go into packaging up the drugs needed worldwide.
Frazier Healthcare has grabbed commitments of $281.8 million toward a targeted $300 million for the venture firm's seventh fund, according to an SEC filing. The firm seeks to raise half as much as the $600 million it secured for its previous fund launched in 2008, yet the crew at Frazier have done well enough to survive a serious drought fundraising for VC outfits.
Pharma contracting giant AmerisourceBergen is ditching its commercial packaging business, selling the unit to Frazier Healthcare for $308 million in cash.
Frazier Healthcare, the Seattle-based investment firm, sees opportunity in drug packaging. For the second time in 11 months, it has put together a deal to buy a pharmaceutical packaging operation, this time picking up the largest contract operator in the U.S.
Newly hatched Atterocor has gained the wherewithal to push ahead with a lead drug for adrenal cancer. The Ann Arbor, MI-based biotech snapped up $16 million from Frazier Healthcare and early-stage specialist 5AM Ventures, the company announced this morning.
Global CMO Catalent Pharma Solutions will unload its U.S. commercial packaging operations and sell it to venture capital group Frazier Healthcare for an undisclosed fee, according to a Catalent release.