BLUE: Invested ahead of transformative data for Lenti-Globin, a cutting edge gene therapy seeking to transform treatment modalities in Beta-Thalassemia & Sickle Cell Disease. A potential future large cap gene therapy and editing platform company, Bluebird Bio is a critical part of the transformation of the therapeutics industry from treatments to cures.

BMY: Financed immunotherapy drug candidates such as Ipilimumab (approved as Yervoy) in early clinical development by Medarex (MEDX), which was acquired by BMY in 2009. This acquisition represented the birth of the Immunotherapeutic landscape. Today, Yervoy is approved to treat metastatic melanoma, a disease that previously had no efficacious therapeutic options. The drug is annualizing at $1B and underpins BMY’s industry leading Immuno-Oncology (IO) pipeline that is valued at $35B.

CGRB: Positioned ahead of Phase 2 data for Abiraterone Acetate which was acquired by Johnson & Johnson in 2009 and approved as Zytiga, a prostate cancer treatment used to treat men with metastatic castration-resistant prostate cancer. Zytiga is expected to sell $2B in 2014.

DNDN: Participated in financings from Phase 2 through Phase 3 for Sipuleucel-T (approved as Provenge), which was one of the first immunotherapies ever approved by the FDA for the treatment of metastatic castration-resistant prostate cancer. This opened the floodgates for other immunotherapies to be approved that now collectively make up an Immuno-Oncology (IO) therapeutic landscape that is valued at >$50B annually.

ILMN: Beginning in 2007, financed the world leader in genetic sequencing leading to the commercialization of the Genome Analyzer and subsequently the HiSeq instrument. Over that time frame, ILMN has emerged from an unknown small cap company to a $20B+ behemoth dominating the high throughput sequencing space. ILMN’s instrument and algorithms have enabled the clinical development of next generation targeted therapeutics that have led to disruptive innovations across the healthcare industry. These innovations have reduced clinical and regulatory cost & timelines, offered patients personalized therapeutic solutions, and improved R&D productivity across several industries.

ITMN: Top holder and strong advocate of U.S. and European Approval ahead of the March 2010 U.S. FDA Advisory Committee meeting for Pirfenidone. InterMune developed Pirfenidone, which was approved as Esbriet in Europe in 2010. Esbriet is the only approved therapy for Idiopathic Pulmonary Fibrosis (IPF) and recent Phase 3 ASCEND data strongly support the safety and efficacy of the drug, offering criticism of the FDA's 2010 decision to require additional Phase 3 trials before considering a New Drug Application (NDA) for Esbriet. ITMN was acquired by Roche in September 2014 for $7.8B.

KERX: Led several Phase 2 and 3 financings from 2010-2012 as a top holder for Zerenex, a phosphate binder for the treatment of End Stage Renal Disease & Chronic Kidney Disease that has the potential to reduce dialysis treatment cost under the bundled reimbursement system by over 20% through its ability to reduce the need for Erythropoietin Stimulating Agents (ESAs) and IV Iron. Zerenex was approved as Auryxia in September 2014.

MDVN: Took part in several financings as early as Phase 1 development for MDV3100 (approved as Xtandi), an androgen receptor antagonist drug to treat men with metastatic castration-resistant prostate cancer. Xtandi is expected to sell nearly $1B in 2014.

MYGN: Led financings as a top holder in 2008 for MYGN—the marketer os the BRACAnalysis test for hereditary breast and ovarian cancer, which was popularized by Angelina Jolie and other high profile breast cancer advocates. These financings enabled Myriad’s spinoff of its therapeutic business and increased focused on delivery of predictive molecular diagnostics that now spans Breast, Ovarian, Prostate, and other cancers.

VRUS: Participated in Phase 2 financings of HCV pipeline beginning in 2010 through the acquisition of the company by Gilead Sciences (GILD) in 2012. Sofosbuvir was subsequently FDA approved as Sovaldi, which cures Hepatitis C (HCV). Sovaldi launched in late 2013 and has been the most successful drug launch of all time. It is on pace to sell >$11B in 2014.

September 2014

RNA: Invested in Prosensa's leading edge RNA platform with blocking intellectual property on the exon-skipping therapeutics space in 2014. Lead asset Drisapersen for Duchenne Muscular Dystrophy targets an area of extreme clinical and regulatory controversy, seeking accelerated approval on a negative Phase 3 trials with signals of benefit in a subgroup of patients in this critical unmet need. RNA was acquired by BMRN in December 2014 for $680M plus $160M in contingent milestones.

April 2014

RCPT: Participated in multiple financings for Phase 2/3 Multiple Sclerosis (MS) & Ulcerative Colitis (UC) asset Ozanimod. Ozanimod is an S1P1 modulator that has shown potential to offer superior cardiovascular and liver safety to the blockbuster Novartis (NVS) MS drug Gilenya, which is expected to achieve almost $3B in sales in 2015. Receptos (RCPT) was acquired by Celgene (CELG) for $7.3B in July 2015.

March 2014

THC: Invested in hospital operator Tenet Healthcare Corporation throughout the 2010-2014 timeframe on the back of the passage and implementation of the Affordable Care Act, which resulted in an explosion of hospital paid patient volumes and margins as millions of previously uninsured Americans obtained coverage through government and healthcare exchange plans.