Therapeutics, Inc., a Delaware corporation (the Company), Baker Brothers Life Sciences, L.P. (BBLS) and 667, L.P. (667 and together with BBLS, the Investor). Click to reveal Notices shall be delivered as follows: Wilmer Cutler Pickering Hale and Dorr LLP, Gunderson Dettmer Stough Villeneuve Franklin& Hachigian, LLP. Baker Bros Advisors was founded in 2000 and is based in New York City. However, the funds investing philosophy does hold up, as the top 10 holdings account for 86.4% of the total capital invested, confirming their inclination towards high-conviction investments. 33. Baker Brothers Life Sciences, L.P. is a hedge fund operated by Baker Brothers Investments and has approximately $13.9 billion in assets. San Francisco Bay Area, Silicon Valley), Operating Status of Organization e.g. Revenues have expanded from around $169 million in 2010 to $3.33 billion over the past four quarters. expressly agree that the provisions of this Agreement may be specifically enforced against each of the parties hereto in any court of competent jurisdiction. (b)Board of Directors means the Board of Directors of the Company. This is compared to ~32M shares in the 13F report. Despite a losing win-record, the firm has managed to post outstanding returns through prudent position sizing. to see more advanced email alert options such as selecting any type of There was a marginal increase in Q1 2021. It invests in the public equity markets of the United States. No delay or omission to Despite the uncertainty surrounding BeiGene, the company has developed into a fully integrated global biotechnology company with operations in China, the United States, Europe, and Australia. The Baker Brothers Entities nominated Fuchs as one of eight nominees to the board of directors at AnorMED, Inc. and, it can be inferred, given the timing, that Fuchs was also appointed by the Baker Brothers Entities to the Mirati This is one of the funds highest conviction picks, as Baker Bros still owns nearly 26% of the companys shares, which have been held since 2010. The Baker brothers have built a truly special hedge fund. BeiGene is an early commercial-stage biopharmaceutical firm working on developing and commercializing innovative molecularly-targeted and immune-oncology drugs for the treatment of cancer. Form D is a form to be used to file a notice of an exempt offering of securities with the Securities and Exchange Commission. There are 20 positions that are significantly large (more than 0.5% of the portfolio each) and they are the focus of this article. This cookie is set by GDPR Cookie Consent plugin. (1)person designated at any time and from time to time by the Investor (the Investor Designee); provided that, the Company shall have no obligation to support the nomination of or cause the Board of Directors to include in The fund is located in New York, New York and will invest in United States. How do I update this listing? Mechelen, Belgium; 24 April 2014 - Galapagos NV ( GLPGF) received notice that Baker Brothers Life Sciences L.P., 667 L.P. and 14159 L.P. currently collectively hold 4.99% of outstanding Galapagos. This is quite odd since the company is based in Beijing, China, which means that the funds due diligence process has to go to the next level due to the weaker Chinese reporting standards. the slate of nominees recommended to the Companys stockholders for election as directors of the Company an Investor Designee if the Investor already has at least one Investor Designee serving as a director on the Board of Directors at the time of interest or (B)to protect trade secrets (unless covered by an enforceable confidentiality agreement, in a form reasonably acceptable to the Company), or a conflict of interest, of if the Investor or Observer is a competitor of the Company. You can email the site owner to let them know you were blocked. I have no business relationship with any company whose stock is mentioned in this article. Fewer than a dozen mutual funds are focused on life sciences, the largest of which are the T. Rowe Price Health Sciences Fund, run by Taymour Tamaddon after the departure of Kris Jenner, and . While the fund has made great gains since, the recent plunge has definitely compressed its unrealized gains, as the position was held stable once again. value remained steady this quarter at $22.77B. The firm primarily invests in life science companies. Kymera Therapeutics (KYMR), Legend Biotech (LEGN), and Pacific Biosciences (PACB): These three very small (less than ~0.65% of the portfolio each) stakes were increased during the quarter. The position was held stable during the quarter. Felix Baker '91, PhD '98. The funds philosophy stands in holding its investments ordinarily for three years, though its higher-conviction investments can be seen held for longer. Edit Lists Featuring This Company Section. Assets under management grew from $250 million in 2003, to $15.2 billion as of November 15th, 2022. Any waiver, permit, consent or approval of any kind or character on the part of the Investor of any breach or default of the Company under this Agreement, or any waiver on the part of any party of any provisions or conditions of this Agreement, in If you have an ad-blocker enabled you may be blocked from proceeding. Form D contains basic information about the offering and the company. To explore Baker Brothers Life Sciencess full profile, request access. The stake was sold this quarter at prices between ~$31.50 and ~$70. For the Baker Bros. -- the biggest shareholder in both companies -- the value of its investments have soared by about $1.4 billion. executed questionnaire in the form that the Company provides to its outside directors generally. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. or to simply have an email sent to you whenever we receive a new (i)Severability. Note: Regulatory filings since the quarter ended show them owning 4.7M shares (15.1% of business) of Entrada Therapeutics (TRDA). Since then, the activity has been minor. Over the years, the firm had a number of home runs as the invested firms got acquired at huge premiums. Specializing in a sector that is challenging to understand by most investors, the firm has historically outperformed the overall market over several years, with its concentrated biotech portfolio. (c)Subject at all times to Section3(n) below and the other limitations set forth in this The Chicago area has 3.4 million square feet of lab space, according to a 2020 report from JLL, far behind a city like Boston, which boasts over 27 million square feet. other electronic means), each of which may be executed by less than all of the parties hereto, each of which shall be enforceable against the parties actually executing such counterparts, and all of which together shall constitute one instrument. this Agreement, to the jurisdiction of the courts of the United States located in the State of Delaware or in any Delaware state court and consent that any such action or proceeding may be brought in such courts and waive any objection that they may The stock currently trades at $47.55. Baker Bros held its position steady last quarter, though the fund still owns nearly 11.4% of the company. of the Election Meeting and the term of such Investor Designee as a director on the Board of Directors does not expire at such Election Meeting. The below charts are illustrative of the type of graphical data available to our clients and do not represent live data. Contact Information Fund Manager Baker Brothers Investments Fund Category Baker Brothers Life Sciences Capital, L.P. is entitled to a performance allocation under the Issuer's organizational documents. These fundamental metrics include business financials, cash flows, and the merit of its goods and services. The stake goes back to funding rounds prior to their IPO last September. Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. Baker Brothers Life Sciences LP; Firm: Fund # CIK # 0001363364: Sale: Fund: Phone: 2123395633: Address: 667 Madison Avenue New York, New York 10065: Source The two brothers are still at the helm of the fund, and along with around 25 employees, cater to 2 clients. The company has a robust pipeline of pharmaceuticals, strengthening its reputation. The 2007-2008 timeframe saw the position increased from ~3.2M shares to ~11.1M shares at prices in the high single digits. The company offers ADCETRIS, an antibody-drug conjugate, PADCEV, and TUKYSA. (a)Subject at all times to Sections 2(b) and 3(n) below, during the period beginning immediately following the This Agreement may be executed in any number of counterparts (including by facsimile or Updated on November 23rd, 2022 by Nikolaos Sismanis. Michael Goller has served as a member of the Board of Directors since 2015. BeiGene Limited (BGNE): The large (top three) 18.60% BGNE stake has been in the portfolio since their US listing in Q1 2016. BioMarine is now Baker Bros fifth largest holding, with the fund owning 4.14% of the companys outstanding shares. But opting out of some of these cookies may have an effect on your browsing experience. Unlike many biotech companies, which are pre-revenue, Incyte has been growing its top and bottom line for years. Thank you for your interest in the U.S. Securities and Exchange Commission. Sign-up Its flagship products include JAKAFI, which is a drug for the treatment of myelofibrosis and polycythemia, and Iclusig, a kinase inhibitor to treat chronic myeloid leukemia. Performance & security by Cloudflare. IN WITNESS WHEREOF, each of the parties hereto has executed this Amended and Restated This cookie is set by GDPR Cookie Consent plugin. By: /s/ Scott Lessing Madrigal Pharmaceuticals (MDGL) and Mirati Therapeutics (MRTX): These two small (less than ~1.10% of the portfolio each) stakes were kept steady this quarter. The company features extraordinary revenue growth, with its 5-year CAGR standing at 40.6%. Mr. Goller serves as a Partner of Baker Brothers Investments, a fund management company focused on long-term investments in life-sciences companies. address or email address (and with such copies, which shall not constitute notice) as identified below. IGM Biosciences (IGMS): The ~1% of the portfolio stake in IGMS goes back to funding rounds prior to the September 2019 IPO. designate an individual as a nominee to the Board of Directors or its rights under this Agreement. The company holds significant cash, which should hopefully be enough until the next drug commercialization before further diluting shareholders. Last major activity in MDGL was a ~30% stake increase in Q1 2020 at prices between ~$65 and ~$90. The SEC defines Insiders as officers, directors, or significant investors (greater than 10% ownership) in a company. Our clients include: large branded pharmaceutical companies established and emerging biotechnology companies international medical devices companies food and beverage companies specifically enforced against each of the parties hereto in any court of competent jurisdiction. The stock currently trades at ~$133. Note: Baker Brothers controls ~13% of the business. The rest of the stakes are very small. Q1 2014 to Q1 2016 saw another stake doubling at prices between ~$30 and ~$55. each case, must be in writing and shall be effective only to the extent specifically set forth in such writing. ACADIA Pharmaceuticals focuses on the development and commercialization of small molecule drugs aimed at unmet medical needs in central nervous system disorders. (c)Enforcement. (n)Termination. The firm typically provides services to university endowments, foundations, and families. The fund has grown rapidly over the years due to its extraordinary returns and currently boasts approximately $15.2 billion of assets under management (AUM). The stake had roughly doubled by 2006. The parties also agree, without further consideration, to execute such further instruments and to take such further actions as may be necessary or desirable to carry out the purposes and intent of this Performance over the past three years has lagged, but it could be a temporary phase for the fund, which, after all, focuses on long-term returns. Total number of diversity investments made by an investor, Total number of employee profiles an organization has on Crunchbase, Total number of organizations similar to the given organization, Where the organization is headquartered (e.g. While the company has continued to grow, the business seems incapable of meeting investors past expectations. (b)Notwithstanding the provisions of Section2(a), the Investor shall not be entitled to designate any I wrote this article myself, and it expresses my own opinions. Baker Brothers Life Sciences is based out of New York. value $0.0001 per share. You can adjust your settings for these cookies and other trackers via this cookie banner. With respect to the Observer, the Companys obligations under this Section2(c) are contingent upon such Observers (x)entering into a confidentiality agreement with the Company in a form that is reasonably acceptable to the BAKER BROTHERS LIFE SCIENCES, L.P. By: BAKER BROS. ADVISORS LP, management company and investment adviser to Baker Brothers Life Sciences, L.P., pursuant to authority granted to it by Baker Brothers Life Sciences Capital, L.P., general partner to Baker Brothers Life Sciences, L.P., and not as the general partner. Felix Baker owns about 15,967,504 units of Kodiak Sciences Inc common stock. Since then the activity has been minor. 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