David Mott - New Enterprise Associates

Billion-dollar backstop

Name: David Mott
Title: General Partner at New Enterprise Associates

Billions at his disposal paired with a broad, deep swath of biotech experience make David Mott a key industry figure. Mott has been with NEA since September 2008 and heads up its biopharma investment. Healthcare typically claims $750 million to $1 billion, or 30% to 40%, of each NEA fund; the firm also invests in information technology.

NEA closed a $3.1 billion fund in April. Over the past 35 years, NEA had already raised at least $14 billion--and had about 500 liquidity events. In 2013, Mott led NEA to partner with Pfizer ($PFE) to create orphan drug incubator Cydan.

Mott earned his NEA spot leading one of the biggest biotechs to be bought out by pharma: MedImmune, which was acquired by AstraZeneca ($AZN) in 2007 for $15.6 billion. He had held a variety of executive positions after joining MedImmune in 1992. As part of his tenure at the biotech, he founded MedImmune Ventures and chaired its investment committee.

He originally started out on the banking side, having joined MedImmune from Smith Barney, where he was a VP in Health Care Investment Banking. There, he focused on public and private equity and debt financings as well as mergers and acquisitions. Prior to that, Mott had received his Bachelor of Arts degree in economics and government from Dartmouth College.

During the last major biotech financing downturn that didn't lift until the past few years, Mott and NEA functioned as a bedrock for the sector.

Mott told FierceBiotech in a 2012 interview, "Unfortunately, healthcare investing and biopharma investing have seen a real decrease overall [in] capital availability over the past three to 5 years. The good news from NEA's perspective is we have the same amount available as we did 5 years ago."

Despite its deep pockets, NEA invests across the early and into the late-stage corporate spectrum; it will even take an initial position in a company that is already public. In September, Mott joined the board of Adaptimmune as part of a $104 million Series A round for the oncology and infectious disease T-cell therapy player. NEA has been incredibly active in the IPO window of the past year. Mott sits on the board of several of these companies including Prosensa, which BioMarin ($BMRN) said in November that it would acquire for up to $840 million, as well as Tesaro and Epizyme.

In advance of fundraising, in January, Mott brought in Dr. Elliott Sigal as a venture partner and senior adviser; he is a former EVP and director for Bristol-Myers Squibb ($BMY), one of the pharmas that's been the most aggressive with its biotech deal efforts.

-- Stacy Lawrence (email | Twitter)

For more:
NEA closes funds worth $3.1B after spate of Abbott med tech deals
Mersana grabs a $35M round, posts ex-Millennium chief Protopapas at helm
Top biotech investor NEA outlines plans for another $2.5B-plus venture fund
One of biotech's top R&D chiefs makes the leap to the VC crowd at NEA
NEA's Mott, Kleiner Perkins pump $20M into cancer drug upstart

David Mott - New Enterprise Associates

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