PALO ALTO, Calif. — Frazier Life Sciences has closed an oversubscribed $1.3 billion venture fund to fuel the creation and early-stage growth of companies developing novel therapeutics. The new fund, Frazier Life Sciences XII, L.P. (FLS XII), marks a significant expansion of the firm’s commitment to biopharmaceutical innovation.
Backed by both longtime and new investors, FLS XII will continue Frazier’s strategy of building and funding private biotech startups aimed at addressing critical unmet medical needs.
“We appreciate the continued support of our limited partners, many of whom have been with us since our first dedicated venture fund in 2016,” said Patrick Heron, Managing Partner at Frazier Life Sciences. “With FLS XII, we look forward to working with exceptional entrepreneurs to advance programs that have the potential to transform patient care.”
Frazier Life Sciences has raised more than $3.6 billion across five venture funds since 2016, in addition to $1.7 billion in public market-focused funds since 2021. The firm’s 35-plus member team brings deep biopharma experience across therapeutic areas and company stages.
Frazier has launched 25 new companies since 2020, with notable investments including Alpine Immune Sciences (acquired by Vertex), Mirum Pharmaceuticals (NASDAQ: MIRM), Arcutis Biotherapeutics (NASDAQ: ARQT), NewAmsterdam Pharma (NASDAQ: NAMS), Tarsus Pharmaceuticals (NASDAQ: TARS), and Amunix Pharmaceuticals (acquired by Sanofi).
FLS XII underscores the firm’s ongoing commitment to hands-on company building and advancing breakthrough therapeutics through early-stage investment.
