October 29, 2013 - Frazier Healthcare, a leading provider of venture and growth buyout capital to emerging healthcare companies, announced today that Carol Gallagher Pharm.D., former CEO of Calistoga Pharmaceuticals, has joined the Frazier Healthcare team as a Venture Partner.
Dr. Gallagher has a long and distinguished track record as an entrepreneur, executive, and drug developer. She started her career at Eli Lilly, and subsequently held senior positions at Biogen-Idec, Agouron Pharmaceuticals, CancerVax and Anadys Pharmaceuticals. Most recently, she was the CEO of Calistoga Pharmaceuticals, a Frazier-founded company based on a set of novel, preclinical assets spun out of Icos Pharmaceuticals. Dr. Gallagher joined the company in 2008 as the CEO, and together with an experienced team she helped to build, advanced a first-in-class product (CAL-101, now called idelalisib) through definitive, proof-of-concept studies in patients with certain lymphomas and leukemias. These efforts ultimately led to the acquisition of Calistoga by Gilead Sciences in 2011 for a total consideration of $600 million, and Gilead has filed for FDA approval of idelalisib in Q3 2013. Dr. Gallagher currently serves on several biotech boards, including AnaptysBio and Atterocor, both of which are Frazier portfolio companies.
"I have had a great working relationship with the Frazier Healthcare team for many years. Their approach to building innovative companies focused on unmet clinical needs is aligned with my own and I am very pleased to join them as a Venture Partner" commented Dr. Gallagher.
"We are thrilled to have Carol join our life science team. Her experience ranges from early stage drug development through successful commercialization strategies, and we are excited about leveraging those skills to continue our successes in life science investing," commented Jamie Topper, General Partner.
"We have known and worked with Carol over the past 15 years through collaboration on several successful investments. We are pleased to have her join our team as we invest our Frazier Healthcare VII capital," commented Patrick Heron, General Partner
Frazier Healthcare recently completed the fundraising effort for its seventh healthcare fund, Frazier Healthcare VII, surpassing its fund target of $300 million with commitments of $377 million.
About Frazier Healthcare
Founded in 1991, Frazier Healthcare is a leading provider of venture and growth buyout capital to emerging healthcare service and biopharma companies. With over $2 billion under management across seven funds, Frazier Healthcare has invested in more than 150 companies across the entire developmental spectrum. From venture investments to leveraged recapitalizations, Frazier Healthcare has established itself among entrepreneurs and seasoned executives as a preferred partner to help create and grow successful healthcare companies. The Life Science team at Frazier Healthcare focuses on investments in Biopharmaceuticals and related areas that are addressing areas of unmet medical need through innovation.
For more information about Frazier Healthcare, visit the company's website at www.frazierhealthcare.com.