Frazier Life Sciences raises over $1.1 billion for its public biotech fund, now $2.8 billion total

Frazier Life Sciences announced that its public fund has secured more than $1.1 billion in new capital, bringing the fund’s total assets to $2.8 billion.

The fund, launched in 2021, targets small- and mid‑cap public biotechnology companies and can also invest in later‑stage private firms through crossover financings.

Among its past holdings, Verona Pharma was bought by Merck & Co. for $10 billion in 2025 and Alpine Immune was acquired by Vertex Pharmaceuticals for $4.9 billion in 2024.

Managing partner Albert Cha, M.D., Ph.D., said the continued momentum from promising clinical trials, FDA approvals and commercial launches fuels confidence in the sector’s future.

Overall, Frazier Life Sciences now manages over $6.9 billion across its venture and public funds, having raised more than $3.6 billion in five dedicated venture funds since 2016.