CAMBRIDGE, Mass. and SOUTH SAN FRANCISCO, Calif., June 9, 2015 /PRNewswire/ -- Clarus Ventures, a leading life science investment firm, announced today the close of Clarus Lifesciences III, L.P. and affiliated funds ("Clarus III"), a $500 million fund, well above its initial $375 million target. This is the third investment fund formed and managed by Clarus Ventures, bringing its total assets under management to more than $1.7 billion.
"We are thrilled by the interest both from our existing investors as well as a select group of new investors," said Robert Liptak, Managing Director. "It is a testament to the performance of our prior funds as well as our unique and differentiated strategy."
Clarus III will commit an average of $15 million to $50 million per investment, primarily in two areas of focus: (1) therapeutics-focused companies at all stages, with breakthrough science and/or best in class assets, and (2) R&D risk-sharing partnerships with the pharmaceutical and biotech industry.
"We've entered a promising new era of innovation in life sciences, both in terms of important scientific advances as well as new business and risk-sharing models," said Scott Requadt, Managing Director. "Given our team's deep expertise in drug development and deal structuring, Clarus is well-positioned to be a leader in both areas."
The Clarus Ventures Team is led by Nicholas Galakatos, Dennis Henner, Robert Liptak, Scott Requadt, Nicholas Simon, and Kurt Wheeler. The team includes Partners Emmett Cunningham and Michele Park, Principal Finny Kuruvilla, Associate Ari Brettman, Senior Advisors, Jeff Leiden and Edward Scolnick and Venture Partners Barry Gertz and William Young.
Snowbridge Advisors acted as exclusive financial advisor to Clarus and Sagent Advisors, LLC acted as placement agent.
About Clarus Ventures
Clarus Ventures is a leading global investment firm dedicated to life sciences. Founded in 2005 by a team of accomplished investment and operating professionals, Clarus manages over $1.7 billion invested in more than 50 private and public companies in the biotechnology, medical device and diagnostic spaces. In every investment, Clarus employs a hands-on philosophy and adheres to investment principles that are founded on core competencies in drug development, complex partnership structuring and the ability to adapt to an ever-changing investment landscape. Clarus strives to generate outstanding returns for its investors by identifying and financing innovative medicines that improve people's lives. Clarus has offices in Cambridge, MA, and South San Francisco, CA. For more information please visit, www.clarusventures.com.
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SOURCE Clarus Ventures, LLC