OrbiMed — 2025 Investments

Alpheus is a clinical-stage biotechnology company developing Porphyrin Metabolite Activation (PoMA™), a drug-led oncology approach designed to treat glioblastoma using proprietary low-intensity ultrasound to activate tumor-localized porphyrin metabolites.

BiotechHealthtechMedical DevicesChanhassen, US

Jeremy Ling(Executive Officer)inSteve Weiner(Executive Officer)Vijay Agarwal(Founder, President and CEO)inWilliam Davis(Executive Officer, Director)

BoardIEImran Eba(Executive Officer)in

Board seatKVKlaus Veitinger· per SEC Form D

Co-investorsHEHealthQuest CapitalSASamsara BioCapitalSVSV Health InvestorsACAction Potential Venture Capital Ltd.BRBrightEdge

Angiex develops Nuclear-Delivered Antibody-Drug Conjugate (ND-ADC) therapies for solid cancers, using a platform that delivers chemotherapeutic payloads to the nucleus of tumor cells and tumor blood vessel endothelial cells.

BiotechHealthtechMedical DevicesCambridge, US

PJPaul Jaminet(Founder & CEO)inShou-Ching Jaminet(Founder, Scientific Adviser)Hal Dvorak(Founder, SAB Chair)

BoardErrik Anderson(Director)JCJason Camm(Director)in

Board seatIDIain Dukes· per SEC Form D · $28.4M raise · filed Sep 2025

Co-investorsGAGaingelsGRGreen Meadow VenturesK5K5 GlobalMAMana Ventures

Enlaza Therapeutics develops covalent protein therapeutics using its War-Lock technology, which incorporates proprietary unnatural amino acids into protein drugs so they form irreversible covalent bonds with disease-related targets.

BiotechDeep TechSan Diego, US

SDSergio Duron(Co-Founder & Chief Executive Officer)inSMSanford Madigan(Co-Founder, President & Chief Business Officer)inAnaleah Heidt(Chief Scientific Officer)in

BoardMMMarcos Milla(Director)inJLJay Lichter(Director)inTRTighe Reardon(Executive Officer)

Board seatSSStephen Squinto· per SEC Form D · $15M raise · filed Sep 2025

Co-investorsFRFrazier Life SciencesLILightspeed Venture PartnersSASamsara BioCapitalAVAvalon BioVenturesPAPappas CapitalPFPfizer Venture Investments+1 more

Sparrow Pharmaceuticals is a clinical-stage biopharmaceutical company developing targeted therapies for cardiometabolic disease.

BiotechHealthtechMedical DevicesPortland, US

RJRobert Jacks(Executive Officer, Director)inDavid Aaron Katz(Executive Officer, Director)

BoardJRJonathan Root(Director)inNONiall O'Donnell(Director)inZSZach Scheiner(Director)in

Board seatKVKlaus Veitinger· per SEC Form D

Co-investorsRARA CapitalRIRiverVest Venture PartnersUSUS Venture PartnersFOForbion

Treeline develops therapeutics focused on oncology, leveraging insights from clinical practice and laboratory research.

AI & Machine LearningBiotechHealthtechMedical DevicesWatertown, US

JHJoshua H. Bilenker(Executive Officer, Director, Promoter)Jeffrey Engelman(Executive Officer, Director, Promoter)inJosh Bilenker(Founder)inJosh Bilenker Jeff Engelman(Founder)

BoardKBKristina Burow(Director)inAli Satvat(Director)

Board seatDBDavid Bonita· per SEC Form D

Co-investorsAIAisling CapitalARARCH Venture PartnersGVGV (Google Ventures)ARARC VENTURESCACasdin CapitalEXExor+3 more

Aerin Medical develops non-invasive radiofrequency treatment systems for chronic nasal conditions, offering the VivAer stylus for nasal airway obstruction and RhinAer stylus for chronic rhinitis.

HealthtechMedical DevicesMountain View, US

MBMatt Brokaw(CEO & President)inDerrick Sung(Executive Officer)inMSMatthew Salkeld(Executive Officer)IRIrina Ridley(Executive Officer)inAndre Cheng(Executive Officer)inFDFred Dinger(Executive Officer, Director)in

Co-investorsLALaunchCapitalQUQuesta CapitalTATargeted Technology FundsALAlly Bridge GroupHOHorizon

Charm is a payments and savings app that enables users to send money across different platforms (Venmo, Cash App, Zelle) through a unified interface, with funds earning interest when held in the app.

ConsumerCrypto & Web3FintechSocialNew York City, US

GNGray Newfield(Founder)inNNNoah Newfield(Founder)inChristian Rocha(Founder)Toby Padilla(Founder)

Co-investorsPIPioneerY Y Combinator46468 CapitalCACavalry VenturesF-F-Prime CapitalFIFirestreak Ventures+7 more

Charm builds open-source tools and libraries for creating user interfaces and applications in the terminal, including command-line interface frameworks, markdown readers, and components for developers.

Developer Tools

Co-investorsBEBetaworksCACavalry VenturesFEFelix JahnGRGradient VenturesLOLowercarbon CapitalMOMotive Force+6 more

Charm.fi is a decentralized finance platform offering automated liquidity management vaults on Ethereum, letting users browse or create vaults for any token and build LP strategies to manage liquidity and earn yields.

Crypto & Web3Fintech

Co-investorsCOCoinbase VenturesCACavalry VenturesF-F-Prime CapitalFUFuel CapitalGRGradient VenturesKHKhosla Ventures+2 more

Curevo Vaccine is a biotech company developing next-generation non-mRNA vaccines, with a focus on infectious diseases.

BiotechHealthtechBothell, US

GSGeorge Simeon(CEO)inGregory S. Curhan(CFO)GDGuy De La Rosa(CMO)in

Co-investorsADAdjuvant CapitalHBHBM Healthcare InvestmentsMEMedicxiRARA CapitalSASanofi VenturesJAJanus Henderson Investors

Electra Therapeutics develops antibody therapeutics targeting Signal Regulatory Protein (SIRP) for immunological diseases and cancer treatment.

BiotechHealthtechMedical DevicesSouth San Francisco, US

ARAdam Rosenthal(Co-founder and former CEO; Director)inQuehuong (Kathy) Dong, Pharm.D.(Executive Officer, Director)Kathy Dong(President, Chief Executive Officer and Director)in

BoardBeth Seidenberg, M.D.(Director)Thomas Geninatti, Ph.D.(Director)Carl Gordon, Ph.D.(Director)

Co-investorsHBHBM Healthcare InvestmentsHBHBM PartnersRARA CapitalWEWestlake Village BioPartnersKLKleiner PerkinsNVNVIDIA

Helicore Bio develops long-acting antibody-peptide conjugate therapies for obesity and cardiometabolic disease, using proprietary GLP-1R agonist and amylin receptor agonist peptide libraries combined with a GIP ligand-binding antibody backbone.

BiotechHealthtechSouthbury, US

KRKevin Russ(Chief Executive Officer)inPDPeter DiLaura(Chief Executive Officer and Board Director)inWaters Kellogg(Director)Lucas B. Turner(Director)Joshua Dotson(Director)Holger Koehler(Director)

Co-investorsLOLongitude CapitalWEWellington ManagementVEVersant Ventures

Laxmi Dental Limited is a dental products company operating multiple business lines in the dental industry.

Advanced ManufacturingHealthtechMedical DevicesMumbai, IN

Rajesh Khakhar(Founder)inSameer Merchant(CEO)in

Co-investorsGOGoldman SachsMAMax Life InsuranceNONomura

Myriad Genetics is a genetic testing and precision medicine company that delivers molecular diagnostic test results across hereditary cancer risk, reproductive health, oncology, urology, and mental health.

AI & Machine LearningBiotechDigital HealthHealthtechSalt Lake City, US

Richard Marsh(Executive Officer)Lawrence C. Best(Director)W. Lloyd Sanders(Executive Officer)Dennis Langer(Director)Mark C. Capone(Executive Officer, Director)S. Louise Phanstiel(Director)

Co-investorsHAHack VCTETen VC

A biopharmaceutical company developing therapies for neurology, immunology, and rare diseases.

BiotechHealthtech

Co-investorsFOForesite CapitalTTTTM

Renasant Bio is a biopharmaceutical company developing oral small molecule corrector and potentiator therapies to restore the function of polycystin 1 and 2 proteins in autosomal dominant polycystic kidney disease (ADPKD).

BiotechHealthtechBerkeley, US

Jeremy Reiter(Scientific Co-Founder)Markus Delling(Scientific Co-Founder)TGThomas Gustafson(Executive Officer)inECEmily Conley(Executive Officer, Director)in

BoardECEvan Caplan(Director)inCharlotte McKee(Director)

Co-investors5A5AM VenturesATAtlas VentureQIQiming Venture PartnersQIQiming Venture Partners USA

Star Therapeutics develops treatments aimed at addressing real-world patient needs.

BiotechSouth San Francisco, US

ARAdam Rosenthal(Founder & CEO)inNSNancy Stagliano(Director)inMichelle Carpenter(Executive Officer)Sandip Panicker(Executive Officer)SRScott Robertson(Executive Officer)inGary Patou(Executive Officer)in

Co-investorsFRFrazier Life SciencesRARA CapitalSASanofi VenturesSOSofinnova VenturesVIViking GlobalWEWestlake Village BioPartners+11 more

Urotronic develops drug-coated balloons for interventional urology, including the Optilume products for treating benign prostatic hyperplasia (BPH) and urethral strictures.

HealthtechMedical DevicesPlymouth, US

Junfeng Wang(Director)David Perry(Executive Officer, Director)Tan Ching(Director)Hui Hu(Director, Promoter)Lixiao Wang(Director, Promoter)Doug Kohrs(Director)

Co-investorsHMHM Venture PartnersENEnterprise IrelandGIGilde HealthcareIRIreland Strategic Investment FundLELegend CapitalLILightstone Ventures+1 more

Windward Bio is a clinical-stage biotechnology company developing long-acting monoclonal and bispecific antibodies for serious immunological conditions such as asthma, COPD, and dermatological diseases.

BiotechHealthtech

Co-investorsQUQuan CapitalRARA CapitalSASanofi VenturesSRSR One Capital ManagementJAJanus Henderson InvestorsNONovo Holdings+3 more