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Former rockstar D.A. Wallach and drug development executive Tim Wright announce contrarian biotech strategy with support from notable investors Chris Sacca, Ron Burkle, and Wildcat Partner Holdings.
LOS ANGELES, Oct. 26, 2022 /PRNewswire/ -- Time BioVentures, an early-stage life sciences venture firm, today announced the close of its first fund, Time BioVentures I, LP with $100 Million in assets under management. Backed by an A-List roster of biotech and healthcare luminaries, the fund will finance game-changing innovations in medicine. Its initial investments include Neuralink, Elon Musk's brain-computer interface start-up, and Kling Biotherapeutics, a groundbreaking Amsterdam-based drug development company.
The firm's general partners are an unlikely duo: former rockstar D.A. Wallach and accomplished drug developer Tim Wright, who pioneered multiple blockbuster drugs while at Pfizer and Novartis, where he led Global Pharma Development. Beyond pharma, Wright has served on the boards of numerous private and public biotechs and as an advisor to the Bill & Melinda Gates Foundation. Wallach, an acclaimed musician discovered by Pharrell Williams, has been investing for over a decade in start-ups ranging from Spotify to SpaceX, with a specific focus on healthcare innovators including Beam Therapeutics and Devoted Health.
Together, Wallach and Wright are seeking iconoclastic founders aiming to reinvent today's broken healthcare system with radically better drugs, diagnostics, research tools, devices, and care delivery models. "This is perhaps the largest addressable market in the global economy, and we believe that the Mark Zuckerbergs and Larry Pages of healthcare are out there and will build generationally important companies that will transform medicine for decades to come," says Wallach.
Bolstering the core investment team, Time BioVentures advisors include Sean Parker, Nobel Prize winner Jim Allison, oncology pioneer Dr. Padmanee Sharma, and former Illumina Chairman and CEO Jay Flatley. Founding LPs in the fund include Chris Sacca, Ron Burkle, and Wildcat Partner Holdings.
About Time BioVenturesTime BioVentures is a life sciences and healthcare investment firm based in Southern California. www.TimeBioVentures.com
CONTACT
Shannon Wilsey, Public Relations | Time BioVentures
Press@TimeBioVentures.com
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SOURCE Time BioVentures