Get Cash Back and $0 Commissions + The Power of TradeStation
5AM Ventures Celebrates 20th FDA Product Approval Investing in Breakthrough Science
Globe Newswire 23-Mar-2023 10:19 AM
SAN FRANCISCO and BOSTON, March 23, 2023 (GLOBE NEWSWIRE) -- 5AM Ventures is pleased that the U.S. Food and Drug Administration (FDA) approved REZZAYO™ (rezafungin for injection) for the treatment of candidemia and invasive candidiasis in adults with limited or no alternative treatment options. REZZAYO is the first new treatment option approved for patients with candidemia and invasive candidiasis in over a decade.
REZZAYO was developed by Cidara Therapeutics, Inc. (NASDAQ:CDTX), a company seeded and then supported by 5AM Ventures through its Series A and Series B rounds. 5AM's Scott Rocklage served as chair of the board of directors from the company's inception in 2012 through 2019.
"Success for 5AM Ventures is achieved when we make a difference in patients' lives," said Andrew Schwab, Managing Partner. "We are proud that REZZAYO can now be a life-saving alternative for patients confronted with difficult-to-treat and often deadly candidemia and invasive candidiasis."
Kush Parmar, Managing Partner added "At 5AM Ventures, over the last 21 years, we have created and funded companies that have brought 20 life-changing products to market for patients with cardiovascular, respiratory and infectious diseases, as well as cancer, addiction and other neurological areas, and those requiring surgical intervention."
5AM Ventures drives advances in breakthrough science through its investments across a wide spectrum of biotherapeutics and platform technologies and is currently investing out of its $450 million 5AM Ventures VII, L.P. and $300 million 5AM Opportunities II, L.P. funds.
ABOUT 5AM VENTURES Founded in 2002, 5AM Ventures is a leading venture capital firm focused on building next-generation life science companies. Based in San Francisco and Boston, 5AM takes a hands-on approach to investing and company building, often going beyond traditional board roles to leverage our diverse team of scientists, clinicians, drug developers and executives throughout a company's life. With more than $2.2 billion raised since inception, 5AM has invested globally in 114 public and private companies.
5AM has guided portfolio companies through 21 IPOs and 20 M&A exits. Since January 1, 2020, 5AM companies that exited into the public markets are CinCor Therapeutics (NASDAQ:CINC), Enliven Therapeutics (NASDAQ:ELVN), Entrada Therapeutics (NASDAQ:TRDA), Impel Therapeutics (NASDAQ:IMPL), Pear Therapeutics (NASDAQ:PEAR), RallyBio (NASDAQ:RLYB) and Vor Therapeutics (NASDAQ:VOR). Since January 1, 2020, 5AM companies that were acquired are Akouos, Inc. acquired by Eli Lilly for up to $610 million, Audentes Therapeutics (NASDAQ:BOLD) acquired by Astellas for $3 billion, CinCor Therapeutics (NASDAQ:CINC) acquired by AstraZeneca for up to $1.8 billion, Precision NanoSystems acquired by Danaher Corporation, and Purigen acquired by Bionano Genomics. For more information, please visit www.5amventures.com.
