Red Tree Venture Capital Announces $272 Million Close

Early-stage, West Coast-focused venture capital firm focused on investing in life science innovation Emerging from leading West Coast academic and research institutions

Led by an accomplished team with over 60 years of combined experience investing, building and operating life science companies across different stages, industries and therapeutic areas

SAN FRANCISCO, Oct. 06, 2022 (GLOBE NEWSWIRE) — Red Tree Venture Capital (“Red Tree”), a West Coast-focused, life sciences-focused venture capital firm, today announced the $272 million final closing of its inaugural fund, Red Tree Venture Capital Fund I. Red Tree is a San Francisco Bay Area-based life sciences venture capital firm focused on investing in innovation emerging from leading West Coast academic and research institutions. The group leverages strong relationships with leading scientists and serial entrepreneurs at key institutions in the region to find opportunities focused on first-in-class and/or first-in-class therapies that address significant unmet needs. in the fields of oncology, neurology and immunology. Red Tree has already committed part of its new fund to investments in ten companies, each of which is at the forefront of scientific innovation in its field.

Red Tree was founded in 2020 by Heath Lukatch, Ph.D. and Jennifer Cochran, Ph.D., two experienced life science industry veterans with strong ties to the West Coast academic and biopharmaceutical ecosystems . Throughout their respective careers, Drs. Lukatch and Cochran, along with CEO Jon Edwards, Ph.D., have demonstrated a knack for translating scientific innovation into successful businesses. The company’s management has over 60 years of combined experience in investing, building and operating life science companies at various stages, sectors and therapeutic areas. Krishna Polu, MD, an experienced drug developer, completes the founding team of Red Tree.

“We are extremely grateful for the support of our sponsors and the trust they have placed in our team and in our vision for Red Tree. We believe there is a significant untapped opportunity for a venture capital group focused on sourcing and supporting innovation emerging from leading West Coast academic and research institutions,” said Dr. Lukatch, Co. -founder and managing partner of Red Tree Venture Capital. “Based on our team’s deep experience, successful track record, and unique access to top West Coast talent, Red Tree is well positioned to serve as the partner of choice for college founders and entrepreneurs looking to creating and building world-class life science companies.

“Red Tree has already generated momentum by launching an exemplary portfolio with investments from our inaugural fund in areas spanning gene editing, cell therapy, bispecific antibodies, oral immunotherapies and non-invasive neural stimulation, among others. . We are particularly proud of the fact that more than half of the companies we have invested in have female founders and/or CEOs,” said Dr. Cochran, Co-Founder and Chief Scientific Advisor of Red Tree Venture Capital, and Professor and president. from the Department of Bioengineering at Stanford University. “We look forward to actively collaborating with our portfolio companies and helping to support the advancement of their transformative science towards the goal of delivering effective treatments to patients around the world.

“The West Coast biotech ecosystem, particularly in California, is truly unique and offers some of the most advanced science and dynamic collaboration I have encountered in my years as a life science investor. “, said Dr Edwards, Managing Director of Red “At Red Tree, we believe that there is a critical need for additional start-up capital alongside the region’s talented academics and entrepreneurs to support the continued efforts to bringing innovative medicines to patients.We are proud to have earned the trust of our limited partners in our vision and look forward to building great businesses on the West Coast.

To date, Red Tree’s portfolio includes:

  • Acrigene Biosciences: Developing the best precision gene editing platforms to improve the safety and efficacy of CRISPR therapies.
  • Alladapt Immunotherapy: A clinical-stage company developing novel oral immunotherapies for the treatment of a wide range of food allergies.
  • Ceribell: Revenue-stage company selling the world’s first brain monitor for point-of-care seizure triage and treatment optimization.
  • Excellergy Therapeutics: Develop cutting-edge therapeutic proteins to rapidly alleviate or prevent allergy-mediated diseases.
  • Magnus Medical: A clinical-stage company developing next-generation neuromodulation technology capable of treating depression without pharmaceutical therapies and associated side effects.
  • Pipeline therapeutics: A clinical-stage company developing cutting-edge therapies for precision neuroregeneration, including myelin restoration, synaptogenesis and axonal repair with applications in hearing loss and multiple sclerosis.
  • Therapeutic Rondo: To develop a novel class of bispecific antibodies that safely engage the immune system to initiate and maintain a robust anti-tumor response.
  • Sardona Therapeutic: Developing new small molecule drugs to destroy refractory tumors and transform patient outcomes by targeting RNA regulators.
  • Syncope Life Sciences: A clinical-stage company developing a new generation of adoptive cell therapies for cancers, focusing on the primary mechanisms of resistance to CAR-T therapies.
  • Virsti Therapeutics: Develop unique tumor-targeting peptide conjugates that selectively kill tumor cells or stimulate the immune system to attack cancer.

The investment approach employed by the Red Tree team is based on the following four pillars:

  • Centered on the West Coast: Focused on investing in life science innovation emerging from leading academic and research institutions on the West Coast of the United States.
  • Early Stage Bias: Support breakthrough science from its earliest stages, seek to establish companies or provide funding to established groups in their seed, pre-clinical or early clinical stages.
  • Best-in-Class and/or First-in-Class therapy: Dedicated to advancing cutting-edge science with the potential to deliver best-in-class and/or first-in-class treatments that transform patients’ lives.
  • Oncology, Neurology & Immunology: Therapeutic orientation in the fields of cancer, neurological diseases and immunological diseases.

The Red Tree team is complemented by a Scientific Advisory Board comprised of academic thought leaders affiliated with the West Coast’s most prestigious institutions. These individuals, who include department heads, division heads, and institute heads, are also established entrepreneurs collectively credited with founding more than 25 companies. Company management is complemented by a team of senior advisors comprised of experienced biopharmaceutical executives who provide Red Tree with extensive expertise in key aspects of the life sciences industry, including company formation/building , commercial operations and drug development.

About Red Tree Venture Capital

Red Tree Venture Capital is a West Coast-focused life sciences venture capital firm. The company was founded on the idea that there is an untapped opportunity for a venture capital firm guided by a focused strategy of leveraging deep relationships with leading West Coast academic and research institutions to source innovation emerging from these organizations. Red Tree Venture Capital has raised an inaugural $272 million fund, Red Tree Venture Capital Fund I, to create and invest in companies developing cutting-edge and/or breakthrough therapies and technologies in the areas of oncology, neurology and immunology.

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