These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc. Co-Founder and Managing Partner, Baker Brothers Investments. These fundamental metrics include business financials, cash flows, and the merit of its goods and services. It does not store any personal data. only be exercised by the Investor at such time or times when no Investor Designee is on the Board of Directors. Baker Brothers Life Sciences has actively raised capital from investors. Baker Brothers, a biotech investment firm, was founded by Julian & Felix Baker in 2000. BeiGene Limited (BGNE): The large (top three) 18.60% BGNE stake has been in the portfolio since their US listing in Q1 2016. (k)Jurisdiction. Baker Brothers Life Sciences LP; Firm: Fund # CIK # 0001363364: Sale: Fund: Phone: 2123395633: Address: 667 Madison Avenue New York, New York 10065: Source The rest of the stakes are very small. their obligations under this Agreement. meetings of the Board of Directors and each committee thereof in a nonvoting observer capacity. Note: Regulatory filings since the quarter ended show them owning 4.7M shares (15.1% of business) of Entrada Therapeutics (TRDA). Incyte Corporation (INCY): INCY was already a 1.67M share stake in their first 13F filing in Q2 2003. Shares started trading at ~$25 and currently goes for ~$16. Last major activity was in Q4 2018 when there was a ~40% stake increase at prices between ~$14 and ~$22. Founded in 2000 by Julian and Felix Baker, Baker Bros. Advisors is a private hedge fund based out of New York City. Your IP: We'll assume you're ok with this, but you can opt-out if you wish. To ensure our website performs well for all users, the SEC monitors the frequency of requests for SEC.gov content to ensure automated searches do not impact the ability of others to access SEC.gov content. Agreement); WHEREAS, the Company and the Investor desire to amend and restate the Original Agreement pursuant to the terms and This is compared to ~32M shares in the 13F report. Broker-Dealer(s): Goldman, Sachs & Co., . the Investor pursuant to the Purchase Agreement, or such number of shares of Common Stock (whether voting or non-voting) issued upon conversion of such number of shares of Series C Preferred (in either case, H1 2018 saw the stake built from ~3.8M shares to ~12M shares at prices between ~$100 and ~$215. This website uses cookies to improve your experience. (c)Subject at all times to Section3(n) below and the other limitations set forth in this Additionally, the rights set forth in this Section2(c) may The Adviser has complete and unlimited discretion and authority with respect to the investment and voting power of the securities held by the Funds. Baker Bros owns around 25.5% of the company, the stock occupies around 38.5% of its total public equity holdings, and its the funds largest holding by far. (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 Form D is a form to be used to file a notice of an exempt offering of securities with the Securities and Exchange Commission. Please send any feedback, corrections, or questions to support@suredividend.com. NEW YORK, NY Investor and its Affiliates, collectively, no longer beneficially own the Required Shares, the Company shall invite a designee of the Investor (the Observer) to attend all 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. The stock currently trades at $3.46. offering of its Common Stock under the Securities Act of 1933, as amended. Custodian(s): Continental Stock Transfer & Trust Company, . 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. The filing was for a pooled investment fund: other investment fund The notice included securities offered of Pooled Investment Fund Interests. Note: Baker Brothers controls ~10% of BioCryst Pharmaceuticals. Either party may change its notice All text and design is copyright 2020 WhaleWisdom.com. 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 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). Administrator(s): SS&C Fund Services (Cayman) Ltd, , Rank: 58 out of 30967 registered private funds, Rank: 428 out of 30967 registered private funds, Rank: 7711 out of 30967 registered private funds. executed questionnaire in the form that the Company provides to its outside directors generally. We give you the access and tools to invest like a Wall Street money manager at a Main Street price. Contact Info baker brothers life sciences lp 860 WASHINGTON STREET NEW YORK NY 10014 Business Phone: 212-339-5600 SEC SIC CODE: 8731-SERVICES-COMMERCIAL PHYSICAL & BIOLOGICAL RESEARCH Insider Information Trimeris Inc - Other Owner (06/22/2015) Xoma Corporation - Other Owner (07/22/2015) Genomic Health Inc - Director (10/01/2019) The action you just performed triggered the security solution. As a percentage of AUM, allocation to the highest conviction picks can be very high at over 30%. This article is part of a series that provides an ongoing analysis of the changes made to Baker Brothers 13F stock portfolio on a quarterly basis. Nominating Agreement as of the date first above written. (h)Counterparts. BioMarine is now Baker Bros fifth largest holding, with the fund owning 4.14% of the companys outstanding shares. This quarter saw a marginal increase. Note that this policy may change as the SEC manages SEC.gov to ensure that the website performs efficiently and remains available to all users. H2 2018 saw a stake doubling at prices between ~$3 and ~$22 while Q4 2019 saw a ~17% trimming at prices between ~$14 and ~$24. Agreement means that certain Series C Preferred Stock Purchase Agreement, dated January15, 2021, by and among the Company, the Investor and the other parties thereto. Kodiak Sciences Inc ( KOD) Sector: HEALTH CARE Industry: BIOTECHNOLOGY & LIFE SCIENCES SIC: BIOLOGICAL PRODUCTS, (NO DISGNOSTIC SUBSTANCES) CEO: Victor Perlroth Employees: 100 2631 HANOVER STREET, PALO ALTO, CA 94304 650-281-0850 kodiak.com Kodiak Sciences Inc. researches, develops, and commercializes therapeutics to treat retinal diseases. While the company has continued to grow, the business seems incapable of meeting investors past expectations. Prior to joining Baker Brothers in 2005, Mr. Goller was an associate of JPMorgan Partners, LLC where he focused on venture investments in the life sciences sector from 1999 to 2003. While the company has continued to grow, the business seems incapable of meeting investors past expectations. This is a profile preview from the PitchBook Platform. (e)IPO means the Companys first underwritten public 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. Baker Brothers Life Sciences is based out of New York. Necessary cookies are absolutely essential for the website to function properly. The funds strategy includes utilizing a fundamentally-driven way of investing to come up with its investment decisions, also known as bottom-up investing. attendance at such meeting is reasonably likely to adversely affect the attorney-client privilege between the Company and its counsel or (ii)access to such information or attendance at such meeting is reasonably likely to result in a conflict Blue Sky Digital Outdoor Advertising Fund Fund Data, Sarasin Ie Global Equity Opportunities (Usd) Fund Data, Themelios Ventures Ii-A, L.P. Fund Data. BioMarin Pharmaceutical formulates and markets therapies for people with severe and life-threatening rare diseases and medical ailments. I am not receiving compensation for it (other than from Seeking Alpha). The stake was sold this quarter at prices between ~$31.50 and ~$70. The company was incorporated in 1991 and is headquartered in Wilmington, Delaware. Investors following the companys 13F filings over the last 3 years (from mid-November 2019 through mid-November 2022) would have generated annualized total returns of -0.82%. Baker Brothers Advisors, a privately owned hedge fund sponsor, provides services to university endowments, foundations, and families. Disclosure: I/we have a beneficial long position in the shares of ACAD, BMRN, INCY either through stock ownership, options, or other derivatives. The stock currently trades at $47.55. Its. Note: Baker Brothers controls ~10% of Madrigal Sciences. Angel, Fund of Funds, Venture Capital), This describes the stage of investments made by this organization (e.g. Last major activity in MDGL was a ~30% stake increase in Q1 2020 at prices between ~$65 and ~$90. DBV Technologies therapies are investigational and not FDA approved. Mr. Goller holds a B.S. In this respect, the Company shall give the Observer copies of all notices, minutes, consents, and other materials that it provides to its directors at The firm typically provides services to university endowments, foundations, and families. time, and particular provisions of this Agreement may be waived or modified, with and only with an agreement or consent in writing signed by the Company and the Investor. Current guidelines limit users to a total of no more than 10 requests per second, regardless of the number of machines used to submit requests. Edit Lists Featuring This Company Section. Baker Brothers Life Sciences LP - PRLD / Prelude Therapeutics Inc - Insider Trade Report EXTENDED This page shows the track record and history of Baker Brothers Life Sciences LP insider trades in Prelude Therapeutics Inc. The cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. In March of 2021, Acadia had announced deficiencies identified by the FDA regarding its marketing application for Pimavanserin in hallucinations and delusions associated with dementia-related psychosis. in Molecular and Cell Biology from The Pennsylvania State University, and a Masters in both Biotechnology and Business Administration from the University of Pennsylvania. 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. Note: Baker Brothers controls ~29% of the business. You can email the site owner to let them know you were blocked. 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 Out of these cookies, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. on which the proxy materials related to any such designee are to be mailed by the Company in connection with such election of directors, and in no event less than the first business day after such determination by the Board of Directors, so as to You can adjust your settings for these cookies and other trackers via this cookie banner. Positions that are between 0.10% and 0.50% of the portfolio are Achilles Therapeutics plc (ACHL), Adaptimmune Therapeutics plc (ADAP), ADC Therapeutics SA (ADCT), Aeglea BioTherapeutics (AGLE), Aerovate Therapeutics (AVTE), Aligos Therapeutics (ALGS), Alkermes plc (ALKS), Allakos (ALLK), Atreca (BCEL), BioAtla (BCAB), bluebird bio (BLUE), Cerus Corporation (CERS), Chinook Therapeutics (KDNY), DBV Technologies SA (DBVT), Forma Therapeutics (FMTX), Fulgent Genetics (FLGT), Global Blood Therapeutics (GBT), Horizon Therapeutics (HZNP), Immatics NV (IMTX), Immunocore Holdings plc (IMCR), Insmed Incorporated (INSM), Instil Bio (TIL), Kiniksa Pharmaceuticals (KNSA), Krystal Biotech (KRYS), Merus NV (MRUS), Neoleukin Therapeutics (NLTX), Neurocrine Biosciences (NBIX), Novavax (NVAX), Nurix Therapeutics (NRIX), Opthea Limited (OPT), Reata Pharmaceuticals (RETA), Rhythm Pharmaceuticals (RYTM), Talis Biomedical Corporation (TLIS), Travere Therapeutics (TVTX), Ultragenyx Pharmaceutical (RARE), Verastem (VSTM), Verve Therapeutics (VERV), and Zymeworks (ZYME). That was followed with a ~45% stake increase in Q1 2017 at prices between ~$100 and ~$150. investment firm, was founded by Julian & Felix Baker in 2000. 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 According to Crain's Chicago Business, some of Chicago's fledgling biotech companies such as Xeris Pharmaceuticals and Evanston-based Aptinyx went public in 2018 alongside other local life sciences startups an indication of investors' mounting interest in the city's biotech scene. Amarin Corp plc (AMRN): The original AMRN stake was built in Q3 2016 at prices between ~$2.15 and ~$3.15. Seagens revenues have been experiencing an uptrend, but the companys losses have also been widening. The stake goes back to funding rounds prior to their IPO last September. The firm primarily invests in life science companies. 2023 PitchBook. Retail investors should be wary of just copying the funds portfolio. I am not receiving compensation for it (other than from Seeking Alpha). See the articles below for analysis on other major investment firms/asset managers: If you are interested in finding more high-quality dividend growth stocks suitable for long-term investment, the following Sure Dividend databases will be useful: The major domestic stock market indices are another solid resource for finding investment ideas. Please declare your traffic by updating your user agent to include company specific information. The increase happened at ~$72 per share. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. As a percentage of AUM, allocation to the highest conviction picks can be very high at over 30%. Management owns 12 percent of the fund. To allow for equitable access to all users, SEC reserves the right to limit requests originating from undeclared automated tools. Mr. Goller began his career as an investment banker with Merrill Lynch and Co. from 1997 to 1999. The parties agree to use their best efforts and act in good faith in carrying out This cookie is set by GDPR Cookie Consent plugin. Still, some minor stakes in the industrial sector had been reported in the past. Most recently, BioMarine got a positive CHMP opinion in Europe for ValRox for the treatment of Hemophilia type A. BioMarine has had a place in Baker Bros portfolio since Q2 2012. 151.252.56.27 Updated on November 23rd, 2022 by Nikolaos Sismanis. For more information, please check out our Cookies Policy. 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. ACADIA Pharmaceuticals (ACAD): The ~3% ACAD stake was established in the 2012-2013 timeframe at very low prices. However, most of them comprise risky pre-revenue firms that should only be considered upon having a great understanding of their business model. Mr. Goller serves as a Partner of Baker Brothers Investments, a fund management company focused on long-term investments in life-sciences companies. Q1 2014 to Q1 2016 saw another stake doubling at prices between ~$30 and ~$55. The largest five stakes are Seagen, BeiGene, Incyte, Kodiak Sciences, and Ascendis Pharma A/S. [Remainder of page intentionally left blank]. These cookies track visitors across websites and collect information to provide customized ads. EPS over the medium-term is expected to grow by around 30% since Incyte is an industry leader, having essentially monopolized its areas of treatment. Analytical cookies are used to understand how visitors interact with the website. Phone: 212-339-5600. Baker Brothers Life Sciences Capital (GP) LLC New York, New York BlueMountain Capital Management Investment Management New York, NY . Last two quarters have seen minor increases. AbCellera Biologics (ABCL): ABCL had an IPO in December 2020. Julian has a business background from Harvard, while Felix has a Ph.D. in Immunology from Stanford. Q3 2015 saw a ~30% stake increase at prices between ~$105 and ~$130. I wrote this article myself, and it expresses my own opinions. There was a ~10% stake increase in Q1 2021 at prices between ~$268 and ~$380. This Agreement may be executed in any number of counterparts (including by facsimile or This website is using a security service to protect itself from online attacks. BioMarin Pharmaceutical (BMRN): A small stake in BMRN was first purchased in 2006 but was eliminated the following year at higher prices. We reserve the right to block IP addresses that submit excessive requests. Baker Brothers controls ~16% of the business. The stock is now at $87.22, and the stake is at 2.59% of the portfolio. THIS AMENDED AND RESTATED NOMINATING AGREEMENT (this Agreement), dated as of April22, 2021, by and among TScan It is still a very small position at 0.80% of the portfolio. Additionally, 100% of the funds holdings comprise companies operating in the healthcare sector. In . (b)Board of Directors means the Board of Directors of the Company. The life sciences sector is changing by the minute. Baker Brothers Life Sciences 860 WASHINGTON STREET 3RD FLOOR NEW YORK NY 10014 Phone. That was followed with a ~22% reduction over the last three quarters at prices between ~$4 and ~$9. Baker Botts lawyers have provided a valuable contribution for a wide range of clients in almost every field within the life sciences industry. Unauthorized attempts to upload information and/or change information on any portion of this site are strictly prohibited and are subject to prosecution under the Computer Fraud and Abuse Act of 1986 and the National Information Infrastructure Protection Act of 1996 (see Title 18 U.S.C. Shares started trading at ~$33 and currently goes for $11.43. This website uses cookies to improve your experience while you navigate through the website. There are 20 positions that are significantly large (more than 0.5% of the portfolio each) and they are the focus of this article. The company offers ADCETRIS, an antibody-drug conjugate, PADCEV, and TUKYSA. Finally, the two brothers dont believe in diversifying the funds portfolio. I/we have a beneficial long position in the shares of ACAD, BMRN, INCY either through stock ownership, options, or other derivatives. Ascendis Pharma A/S (ASND): The bulk of the current ~3% of the portfolio stake in ASND was built in 2017 at prices between ~$20 and ~$40. For security purposes, and to ensure that the public service remains available to users, this government computer system employs programs to monitor network traffic to identify unauthorized attempts to upload or change information or to otherwise cause damage, including attempts to deny service to users. The fund is located in New York, New York and will invest in United States. There are 20 positions that are significantly large (more than 0.5% of the portfolio each) and they are the focus of this article. 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). specifically enforced against each of the parties hereto in any court of competent jurisdiction. (a)Subject at all times to Sections 2(b) and 3(n) below, during the period beginning immediately following the Performance & security by Cloudflare. Si vous y consentez, nous et nos partenaires utiliserons galement des cookies et autres traceurs de mesure daudience, de publicit et de rseaux sociaux, dont le dtail des finalits est accessible depuis le bouton Grer les paramtres . now or hereafter have to the venue of such action or proceeding in any such court or that such action or proceeding was brought in an inconvenient forum. (g)Required Shares means at least 75% of the shares of the Series C Preferred purchased by Once the rate of requests has dropped below the threshold for 10 minutes, the user may resume accessing content on SEC.gov. Q4 2016 saw a stake doubling at prices between ~$28 and ~$36. 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 holds significant cash, which should hopefully be enough until the next drug commercialization before further diluting shareholders. This Agreement, the Bylaws and Upon looking at Baker Bros portfolio, one can see that it holds 109 individual stocks, questioning the funds disbelief in diversification. Note: Baker Brothers controls ~6% of the business. If any provision of this Agreement shall be invalid, illegal or unenforceable, the In that regard, the valuation seems compressed. Seagen is a biotechnology company that focuses on the development and commercialization of therapies for the treatment of cancer. Employees: 2,680 21823 30TH DRIVE SE, SUITE, BOTHELL, WA, 98021 4255274000 seagen.com Seagen Inc. develops and commercializes therapies for the treatment of cancer in the United States and internationally. Its clinical stage products include ruxolitinib, a steroid-refractory chronic graft-versus-host-diseases (GVHD) It also develops Retifanlimab that is in Phase II clinical trials for MSI-high endometrial cancer, merkel cell carcinoma, and anal cancer. There was a marginal increase last quarter. Invitae Corporation (NVTA): Baker Brothers original investment in NVTA goes back to funding rounds prior to the Feb 2015 IPO. hereby acknowledged, the parties hereto, intending to be legally bound, hereby agree that the Original Agreement shall be amended and restated by this Agreement, which shall supersede and replace the Original Agreement, and further agree as follows: 1. It invests in the public equity markets of the United States. The stock is now at $89.08. AND RESTATED NOMINATING AGREEMENT]. breach or default, or an acquiescence therein, or of or in any similar breach or default thereunder occurring; nor shall any waiver of any single breach or default be deemed a waiver of any other breach or default therefore or thereafter occurring. email address below and choose 'Submit'. reserves the right to withhold any information and to exclude the Observer from any meeting or portion thereof that the (A)Board of Directors determines based upon the advice of outside counsel that (i)access to such information or The stock currently trades at $13.72. This information is available in the PitchBook Platform. Over the years, the firm had a number of home runs as the invested firms got acquired at huge premiums. The Baker brothers have built a truly special hedge fund. The parties expressly agree that the provisions of this Agreement may be 33. Cloudflare Ray ID: 7a1449174e9cb39d After giving effect to the transactions reported herein and as a result of their ownership interest in Baker Brothers Life Sciences Capital (GP), LLC, Julian C. Baker and Felix J. Baker each may be deemed to have an indirect pecuniary interest in the Issuer's shares of Common Stock reported in column 5 of Table I directly held by Baker Brothers . Angel, Fund of Funds, Venture Capital). Note: We do not offer technical support for developing or debugging scripted downloading processes. Keep reading this article to learn more about Baker Brothers Advisors. or to simply have an email sent to you whenever we receive a new Julian Baker joined the board in January 2021. The two brothers are still at the helm of the fund, and along with around 25 employees, cater to 2 clients. The funds philosophy stands in holding its investments ordinarily for three years, though its higher-conviction investments can be seen held for longer. ***Log In or (e)Entire Agreement. Linda Rosenberg Ach P '12. subject to the conditions set forth herein. Note: Baker Brothers controls ~13% of the business. value $0.0001 per share. The position is now at 1.23% of the portfolio. It is a very long-term stake that has been in the portfolio for over fifteen years. Shares started trading at ~$18 and currently goes for $27.21. We are EVERSANA. 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. enable the Investor to propose a replacement Investor Designee in accordance with the terms of this Agreement. All rights reserved. Unlike many biotech companies, which are pre-revenue, Incyte has been growing its top and bottom line for years. (a)Governing Law. The position was built to ~20.5M shares in the 2004-2011 timeframe at prices between low-single-digits and low-20s. the Investor and its Affiliates, collectively, no longer beneficially own the Required Shares, (ii)the third (3rd) anniversary of the closing of the IPO, and (iii)the consummation of a Deemed Liquidation Event (as defined in the Baker Bros. Advisors LP 860 Washington Street, 3rdFloor New York, NY 10014 (212) 339-5690 (Name, address and telephone number of person authorized to receive notices and communications) January 12, 2023 (Date of event which requires filing of this statement) If the filing person has previously filed a statement on Schedule from time to time. 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. A privately owned hedge fund sponsor. Last major activity was a ~60% stake increase in 2017 at prices between ~$80 and ~$95. Brothers Julian and Felix Baker have earned their guru status on Wall Street, having delivered an exceptional track record of annualized returns over the years. They add up to ~73% of the portfolio. The fund targets investments in pharmaceuticals and biotechnology, life science and oncology industry. closing of the IPO and for three (3)years thereafter, at any time at which the Investor and its Affiliates, collectively, beneficially own (i)the Required Shares and (ii)at least 2% of the Companys then-outstanding voting Shares started trading at ~$10 and currently goes for $85.56.

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