Notices shall be effective upon receipt. 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. or to simply have an email sent to you whenever we receive a new Baker Brothers Life Sciences 860 WASHINGTON STREET 3RD FLOOR NEW YORK NY 10014 Phone. Agreement. Once the rate of requests has dropped below the threshold for 10 minutes, the user may resume accessing content on SEC.gov. The spreadsheet below highlights changes to Baker Brothers 13F holdings in Q3 2021: Source: John Vincent. This Agreement shall automatically terminate upon the earliest of (i)such time as These cookies ensure basic functionalities and security features of the website, anonymously. This SEC practice is designed to limit excessive automated searches on SEC.gov and is not intended or expected to impact individuals browsing the SEC.gov website. The stock currently trades at $3.46. (a)Subject at all times to Sections 2(b) and 3(n) below, during the period beginning immediately following the Since then the activity has been minor. They add up to ~73% of the portfolio. Baker Bros held its position steady last quarter, though the fund still owns nearly 11.4% of the company. 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 Baker Bros. Advisors LP 860 Washington Street, 3 rd Floor New York, NY 10014 (212) 339-5690 (Name, address and telephone number of person authorized to receive notices and communications) October 11, 2019 (Date of event which requires filing of this statement) (d)Common Stock means shares of the Companys Common Stock, par Definitions. substantially the same time and in the same manner as provided to such directors; provided, however, that such Observer shall agree to hold in confidence all information so provided; and provided, further, that the Company If you accept, we, along with our partners, will also use analytics, advertising and social media cookies and other trackers, whose the details of the purposes are accessible from the button Set Preferences. Thank you for your interest in the U.S. Securities and Exchange Commission. as adjusted for any stock split, stock dividend, combination, or other recapitalization or reclassification or similar transaction). In that regard, the valuation seems compressed. 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). Although there are ~120 positions in the 13F portfolio, the holdings are concentrated among a few large stakes. Prior to joining Baker Brothers in 2005, Mr. Goller was an associate of JPMorgan Partners, LLC where he focused on [] recommended to the Companys stockholders for election as directors of the Company at each annual or special meeting of the Companys stockholders at which directors are to be elected (an Election Meeting),one Note: Baker Brothers controls ~13% of the business. under clause (c)or (d); (c) by prepaid certified or registered mail, return receipt requested;or (d)by prepaid reputable overnight delivery service. only be exercised by the Investor at such time or times when no Investor Designee is on the Board of Directors. 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. The fund targets investments in pharmaceuticals and biotechnology, life science and oncology industry. (b)Board of Directors means the Board of Directors of the Company. The original stake goes back to funding rounds prior to its Q4 2018 IPO. 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. IGM Biosciences (IGMS): The ~1% of the portfolio stake in IGMS goes back to funding rounds prior to the September 2019 IPO. Since then, the activity has been minor. Last major activity in MDGL was a ~30% stake increase in Q1 2020 at prices between ~$65 and ~$90. By: /s/ Scott Lessing As Chicago's biotech ecosystem continues to expand . Linda Rosenberg Ach P '12. BioMarin Pharmaceutical (BMRN): A small stake in BMRN was first purchased in 2006 but was eliminated the following year at higher prices. Note: Baker Brothers controls ~8.5% of the business. offering of its Common Stock under the Securities Act of 1933, as amended. Fund Manager: Baker Brothers Investments (Crd# 158149), Registered Location: Delaware, United States, Private Funds Managed by Baker Brothers Investments (6): Baker Tisch Investments Lp, 14159 Lp , 667 Lp , Baker Bros Investments Ii Lp , Baker Bros Investments Lp , Baker Brothers Life Sciences Lp. The position was boosted by less than 1% in the previous quarter. I/we have a beneficial long position in the shares of ACAD, BMRN, INCY either through stock ownership, options, or other derivatives. The position was left unchanged during the previous quarter. NOW, THEREFORE, for good and valuable consideration, the receipt and adequacy of which are The fund owns around 16.3% of the company, with a market cap of $23 billion. A privately owned hedge fund sponsor. But opting out of some of these cookies may have an effect on your browsing experience. Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors. Necessary cookies enable the website to function properly. Unlike top-down investing, which suggests studying the bigger picture of economic factors to make investment decisions, bottom-up investing involves looking at the company-specific fundamentals. Baker Brothers Life Sciences LP; Firm: Fund # CIK # 0001363364: Sale: Fund: Phone: 2123395633: Address: 667 Madison Avenue New York, New York 10065: Source Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet. 1001 and 1030). Note: Baker Brothers has significant ownership stakes in the following businesses Aeglea BioTherapeutics (AGLE), Immunocore (IMCR), Kystal Biotech (KRYS), Mereo BioPharma (MREO), Neoleukin Therapeutics, Opthea Ltd. (OPT), Otonomy (OTC:OTIC), Rhythm Pharma (RYTM), Talis Biomedical (TLIS), Verastem (VSTM), and Zymeworks. Common Stock, the Company shallsupport the nomination of, and cause the Board of Directors (or the nominating committee thereof), subject to the requirements of fiduciary duties under applicable law, to include in the slate of nominees You can also sign up for email updates on the SEC open data program, including best practices that make it more efficient to download data, and SEC.gov enhancements that may impact scripted downloading processes. 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 . Pour plus dinformations, veuillez consulter notre politique de gestion des cookies. 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 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. In the event of any change in the capitalization of the Company, as a result of any stocksplit, stock dividend or stock combination or otherwise, Note: In December 2019, Baker Brothers stuck a deal for a capped 4.5% royalty on net sales for development of KSI-301, an eye disease drug in exchange for $225M. Sure Dividend compiles the following stock market databases and updates them monthly: Thanks for reading this article. The stake had roughly doubled by 2006. (d)Successors and Assigns. Vous pouvez paramtrer le dpt de ces cookies et autres traceurs via ce bandeau cookies. This cookie is set by GDPR Cookie Consent plugin. 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. Assets under management grew from $250 million in 2003, to $15.2 billion as of November 15th, 2022. Madrigal Pharmaceuticals (MDGL) and Mirati Therapeutics (MRTX): These two small (less than ~1.10% of the portfolio each) stakes were kept steady this quarter. 2023 PitchBook. In . The rest of the stakes are very small. They have a ~29% ownership stake in the business. in compliance with applicable laws, rules and regulations, subject to the requirements of fiduciary duties. 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. If a user or application submits more than 10 requests per second, further requests from the IP address(es) may be limited for a brief period. AND RESTATED NOMINATING AGREEMENT]. Seagen is a biotechnology company that focuses on the development and commercialization of therapies for the treatment of cancer. This is a profile preview from the PitchBook Platform. 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 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 14159 capital, l.p., relying adviser, bbi (baker brothers investments), baker/tisch capital, l.p., relying adviser, baker brothers life sciences capital, l.p . Angel, Fund of Funds, Venture Capital). individual as a nominee to the Board of Directors if a majority of the disinterested members of the Board of Directors reasonably and in good faith determines, after consultation with the Companys outside legal counsel and upon written advice Please visit our Tracking Baker Brothers Portfolio series to get an idea of their investment philosophy and our previous update the funds moves during Q2 2021. Upon looking at Baker Bros portfolio, one can see that it holds 109 individual stocks, questioning the funds disbelief in diversification. That was followed with a ~45% stake increase in Q1 2017 at prices between ~$100 and ~$150. (g)Required Shares means at least 75% of the shares of the Series C Preferred purchased by 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%. Please send any feedback, corrections, or questions to support@suredividend.com. In the event that the Investor Designee resigns from his or her seat on the Board of Directors or is 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. The Adviser has complete and unlimited discretion and authority with respect to the investment and voting power of the securities held by the Funds. (h)Series C Preferred means shares of the Companys Series C Preferred Stock, par value Management owns 12 percent of the fund. This is crucial when investing in the biotech industry, as each company is very unique, requiring niche knowledge to understand its business model. Note: Baker Brothers controls ~26% of the business. Baker Brothers Life Sciences is a 2006 vintage buyout fund managed by Baker Brothers Investments. [Remainder of page intentionally left blank]. Nonetheless, BeiGene produces miniature revenues against its $18.7 billion market cap, indicating that investors are betting heavily on the companys long-term prospects. It is still a very small position at 0.80% of the portfolio. These cookies will be stored in your browser only with your consent. Shares plunged by a massive 45%, and they have yet to recover since then. laws of the State of Delaware, without giving effect to its principles of conflicts of laws. 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. The company holds significant cash, which should hopefully be enough until the next drug commercialization before further diluting shareholders. Your request has been identified as part of a network of automated tools outside of the acceptable policy and will be managed until action is taken to declare your traffic. (l)Further Assurances. We are EVERSANA. Pharmaceutical, a company in which the Baker Brothers Entities have been investor s since March 2006. The stock currently trades at ~$344 and the stake is at 1.48% of the portfolio. Mr. Goller began his career as an investment banker with Merrill Lynch and Co. from 1997 to 1999. San Francisco Bay Area, Silicon Valley), Operating Status of Organization e.g. 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. The life sciences sector is changing by the minute. Note: Baker Brothers controls ~6% of the business. Julian has a business background from Harvard, while Felix has a Ph.D. in Immunology from Stanford. from time to time. Fund structure AUM Fund type; Baker Brothers Investments: $25.71 bn: 667, L.P. $2.27 bn: Hedge Fund: Baker Brothers Life Sciences, L.P. $23.42 bn: Hedge Fund: Hcif Offshore LP: Latest filings (excl ownership) All remedies, either under this Agreement, or by law or otherwise afforded to any party, shall be cumulative and not alternative. Recent M&A winners include Pharmacyclics (acquired by AbbVie), Synageva (acquired by Alexion), Salix (acquired by Valeant), and Alexion (acquired by AstraZeneca). 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. Baker Brothers Life Sciences LP. Analytical cookies are used to understand how visitors interact with the website. This analysis helps to understand if the insider consistently generates abnormal returns, and is worth following. For more information, contact opendata@sec.gov. Lists Featuring This Company Early Stage Venture Investors (Top 10K) 10,000 Number of Organizations $63B Total Funding Amount 1,945 Number of Investors Track Private New York Companies (Top 10K) Baker Brothers, a biotech investment firm, was founded by Julian & Felix Baker in 2000. Note: Baker Brothers controls ~10% of Madrigal Sciences. Shares started trading at ~$20 and currently goes for $14.36. Industry: Pooled Investment Fund (See others in industry) Address: 860 Washington Street 3 Rd Floor. in Molecular and Cell Biology from The Pennsylvania State University, and a Masters in both Biotechnology and Business Administration from the University of Pennsylvania. Either party may change its notice Despite a losing win-record, the firm has managed to post outstanding returns through prudent position sizing. Founded in 2000 by Julian and Felix Baker, Baker Bros. Advisors is a private hedge fund based out of New York City. Please. value remained steady this quarter at $22.77B. I am not receiving compensation for it (other than from Seeking Alpha). Shares started trading at ~$24 and currently goes for ~$246. validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired thereby. Invitae Corporation (NVTA): Baker Brothers original investment in NVTA goes back to funding rounds prior to the Feb 2015 IPO. The stock currently trades at ~$133. BAKER BROTHERS LIFE SCIENCES CAPITAL, L.P. N/A BAKER BROTHERS LIFE SCIENCES CAPITAL, L.P. GENERAL PARTNER BAKER BROTHERS LIFE SCIENCES CAPITAL, L.P. GENERAL PARTNER OF THE GENERAL PARTNER BAKER BROTHERS LIFE SCIENCES CAPITAL (GP), LLC. (k)Jurisdiction. The 2007-2008 timeframe saw the position increased from ~3.2M shares to ~11.1M shares at prices in the high single digits. 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.
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