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Ascenta Capital Announces Final Close of $325 Million Inaugural Fund to Back Development-Stage Biotechs

via Business Wire

The fund has led or co-led six syndicates for private biotechs in Phase 1 or Phase 2

Ascenta Capital (“Ascenta”), a venture firm investing in multi-medicine development-stage biotechnology companies, today announced the $325 million close of its inaugural fund (the “Fund”).

Ascenta was founded in 2023 by Evan Rachlin, MD, and Lorence Kim, MD, who bring deep biotech operating and investment expertise. The firm leads or co-leads investments in multi-medicine biotech companies at the early stages of human trials. Ascenta’s 14-person team comprises eight investment professionals and three executive advisors, who have collectively played critical roles in more than 30 approved medicines during their careers.

“Ascenta pursues an intentionally selective investment strategy founded on deep relationships,” said Dr. Rachlin. “By focusing on a small number of exceptional biotechs, we can concentrate our thought-partnership on clinical, regulatory, manufacturing, scientific, and capital strategy. Investing at this stage is inherently a collaborative effort, not just with biotechs but also other world-class investors in our syndicates.”

“We take a deliberate approach with every one of our portfolio companies, who understand that we don’t want to simply act as a financial partner,” said Dr. Kim. “We want to earn both our board positions and the companies’ trust, and we do that through our team’s deep, technical, interdisciplinary expertise across clinical, scientific, and financial dimensions.”

As of today, Ascenta has deployed more than $100 million of capital into six biotechs that, collectively, are active in 14 clinical trials and have more than 40 pipeline programs. Ascenta’s investment strategy supports companies at the nexus of two core pillars: early clinical development and multi-medicine therapeutic platforms that balance risk through diversified pipelines.

Ascenta’s investment philosophy is therapeutic area agnostic. Current portfolio companies include ADARx Pharmaceuticals, Iambic Therapeutics, Odyssey Therapeutics, Cardurion Pharma, OrsoBio, and Alpha9 Oncology. Investors in the flagship fund span the institutional audience, including family and multi-family offices, endowments & foundations, and high net-worth individuals.

About Ascenta Capital

Ascenta Capital is a venture capital firm founded in 2023 that specializes in the biotechnology sector. The firm was born to help innovative companies as they translate from scientific foundations to clinical development of meaningful medicines for patients. For more information, please visit ascentacap.com.

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