Shots:
- Welcome to the September edition of Know Your Investor, featuring leading investors fuelling healthcare & life sciences
- This edition spotlights Cormorant Asset Management, an investment firm focused on biotechnology and healthcare companies
- In 2024, Cormorant completed 31 investments ~$3.88B, spanning PIPEs, private financings, IPO, and venture rounds. For the full report, contact us at connect@pharmashots.com
Cormorant Asset Management is a healthcare-focused investment firm founded in 2013 and headquartered in Boston, Massachusetts. The firm invests in both public and private companies across all stages of development. Its diverse portfolio includes biopharma, devices, diagnostics, manufacturing, and service companies.
In 2024, Cormorant participated in eight funding rounds across various stages, including PIPE, IPO, and Series A–F. Key additions to its portfolio include:
- BioAge Labs
- Alumis
- Freenome
- Nkarta
The Firm’s largest single investment in 2024 was $300M in GondolaBio.
Cormorant Asset Management focuses primarily on biotechnology and life sciences, with investments spanning therapeutic innovation and advanced technologies. Its strategy includes backing companies developing innovative products across diverse modalities.
Therapeutic Areas of Focus (2024):
- Oncology
- Autoimmune
- Neurologic
- Endocrine/Metabolic
- Musculoskeletal
- Gastrointestinal
- Cardiovascular
Technological Focus (2024):
- Small molecules
- Antibodies
- Stem cell therapies
- Gene therapies
- Cell therapies
- Proteins
- Devices
- AI/ML
- Diagnostics
In 2024:
- Total Companies Invested In: 31
- PIPE Funding: 29.03% of investments
- Series A: 22.5% of investments
Key Investments in 2024:
- $300M Private Funding – GondolaBio
- $259M Series C – Alumis
- $254M Private Funding – Freenome
Quarterly Investments in 2024:
- Q1: 11 investments worth $1.93B
- Q2: 6 investments worth $0.73B
- Q3: 7 investments worth $0.73B
- Q4: 7 investments worth $0.47B
The table below depicts the top 5 out of the 31 investments made by Cormorant Asset Management:
Note: For a complete report, reach out to us at connect@pharmashots.com with the subject line “Cormorant Asset Management – 2024 Completed Rounds,” or for early access to complete data for future reports and analysis, register here: https://forms.office.com/r/VwFu6aUm80
Related Post: Know Your Investor: Venrock Healthcare Capital Partners (August’25 Edition)