# Cormorant Asset Management: portfolio, investments and team

> Cormorant Asset Management is a private equity based in United States. 176 investments on record, 50 in the last 12 months, latest Oct 2026.

Source: https://millionrounds.com/fund/cormorant-asset-management (Millionrounds; every figure on the page links to its filing or article)

United States · [Investor](https://millionrounds.com/investors)

# Cormorant Asset Management

Last cheque observed Oct 2026; 176 cheques on record.

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Deploying now New fund $24M, Jun 2026 Private equity

Series B Series C Venture Pharmaceutical Therapeutics

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Deploying now

**83%** of best year **50** **cheques in 12 months**, 176 on record

Since the last cheque **2** days **00** hrs **00** min **00** sec

Median round **$102M** Rounds led **1 of 176** Sole investor **5 rounds** Mostly in **United States, 82%**

Pitch Cormorant Asset Management

## Cormorant Asset Management highlights

- 01 50 cheques in the last 12 months
- 02 Mostly Series B and Series C: 51% of its rounds
- 03 Sole investor in 5 rounds, median $24M

## What they do

> Filed 4 private fund offerings with the SEC, the most recent in 2026-06 From their own website

- **Type:** Private equity (from a list, unverified)
- **Cheque size:** Not stated
- **Sectors:** Pharmaceutical Therapeutics
- **Based in:** BOSTON, United States
- **Cold pitches:** Not stated

## The record

Every round we can evidence, newest first **176 appearances**

- **2026** 41 rounds
- **Oct** **[Dren Bio](https://millionrounds.com/company/dren-bio)** US · Wowtale **$350M** With 13 others
- **Oct** **[Star Therapeutics](https://millionrounds.com/company/star-therapeutics)** US · Pulse 2.0 **$200M** With 10 others
- **Oct** **[Zai Lab](https://millionrounds.com/company/zai-lab)** CN · Pulse 2.0 **$250M** With 10 others
- **Sept** **[Tyra Biosciences](https://millionrounds.com/company/tyra-biosciences)** US **$400M** With 5 others
- **Sept** **[Orbis Medicines](https://millionrounds.com/company/orbis-medicines)** Venture · DK **$94M** With 4 others
- **Aug** **[Epicrispr Biotechnologies](https://millionrounds.com/company/epicrispr-biotechnologies)** Series C · US **$90M** With 3 others
- **Jul** **[Crystalys Therapeutics](https://millionrounds.com/company/crystalys-therapeutics)** Series B · Frazier Life Sciences **$130M** With 10 others
- **Jul** **[FORE Biotherapeutics](https://millionrounds.com/company/fore-biotherapeutics)** Series D · US · Ventureburn **$67M** With 15 others
- **Jul** **[Erasca](https://millionrounds.com/company/erasca)** US **$633M** With 4 others
- **Jul** **[Clearside Biomedical](https://millionrounds.com/company/clearside-biomedical)** Debt · US **$3.0M** With 2 others
- **Jul** **[Neurogene](https://millionrounds.com/company/neurogene)** US **$125M** With 4 others
- **Jul** **[Cue Biopharma](https://millionrounds.com/company/cue-biopharma)** US **$50M** With 1 other
- **Jul** **[Freenome](https://millionrounds.com/company/freenome)** US **$240M** With 4 others
- **Jun** **[MoonLake Immunotherapeutics](https://millionrounds.com/company/moonlake-immunotherapeutics)** CH **$200M** With 2 others
- **Jun** **[Tango Therapeutics](https://millionrounds.com/company/tango-therapeutics)** US **$600M** With 2 others
- **Jun** **[Triveni Bio](https://millionrounds.com/company/triveni-bio)** Series C · US **$65M** With 4 others
- **Jun** **[Enliven Therapeutics](https://millionrounds.com/company/enliven-therapeutics)** US **$460M** With 3 others
- **May** **[Quince Therapeutics](https://millionrounds.com/company/quince-therapeutics)** US **$115M** With 1 other
- **May** **[Cabaletta Bio](https://millionrounds.com/company/cabaletta-bio)** US **$150M** With 4 others
- **May** **[Artiva Biotherapeutics](https://millionrounds.com/company/artiva-biotherapeutics)** US **$300M** With 3 others
- **May** **[Pharvaris](https://millionrounds.com/company/pharvaris)** CH **$132M** With 4 others
- **Apr** **[Climb Bio](https://millionrounds.com/company/climb-bio)** US **$110M** With 4 others
- **Apr** **[Spyre Therapeutics](https://millionrounds.com/company/spyre-therapeutics)** US **$403M** With 3 others
- **Apr** **[Oruka Therapeutics](https://millionrounds.com/company/oruka-therapeutics)** US **$700M** With 3 others
- **Apr** **[Valneva](https://millionrounds.com/company/valneva)** FR **$43M** With 4 others
- **Apr** **[GH Research](https://millionrounds.com/company/gh-research)** IE **$118M** With 4 others
- **Apr** **[Terremoto Biosciences](https://millionrounds.com/company/terremoto-biosciences)** Series C · US **$108M** With 3 others
- **Mar** **[OnKure Therapeutics](https://millionrounds.com/company/onkure-therapeutics)** US **$150M** With 4 others
- **Mar** **[Korro Bio](https://millionrounds.com/company/korro-bio)** US **$85M** With 2 others
- **Mar** **[Ovid Therapeutics](https://millionrounds.com/company/ovid-therapeutics)** US **$60M** With 3 others
- **Mar** **[Candid Therapeutics](https://millionrounds.com/company/candid-therapeutics)** Venture · US **$505M** With 5 others
- **Mar** **[Tessera Therapeutics](https://millionrounds.com/company/tessera-therapeutics)** Venture · US **Undisclosed** With 3 others
- **Mar** **[Solid Biosciences](https://millionrounds.com/company/solid-biosciences)** US · Firms' own news pages **$240M** With 8 others
- **Feb** **[Third Arc Bio](https://millionrounds.com/company/third-arc-bio)** Series A · US **$52M** With 4 others
- **Feb** **[Beam Therapeutics](https://millionrounds.com/company/beam-therapeutics)** Debt · US **$100M** With 5 others
- **Feb** **[Adlai Nortye](https://millionrounds.com/company/adlai-nortye)** **$140M** With 2 others
- **Jan** **[Corvus Pharmaceuticals](https://millionrounds.com/company/corvus-pharmaceuticals)** US **$201M** With 4 others
- **Jan** **[Parabilis Medicines](https://millionrounds.com/company/parabilis-medicines)** Series F · US **$305M** With 4 others
- **Jan** **[Alumis](https://millionrounds.com/company/alumis)** US **$345M** With 6 others
- **Jan** **[Monte Rosa Therapeutics](https://millionrounds.com/company/monte-rosa-therapeutics)** CH **$300M** With 5 others

An announcement gives the size of the round, not the size of this investor's cheque: the only rounds that imply a cheque are those where they were the sole named investor.

## The team

Named by the firm itself, on a filing, its Form ADV or its company registration **3 named**

BC **Bihua Chen** Ms. Chen is the founder and Managing Member of the General Partner of the Issuer and the founder and portfolio manager of the Investment Manager i Filing they signed

CT **Caleb Tripp** Mr. Tripp is the Chief Financial Officer and Chief Operating Officer of both the General Partner and the Investment Manager i Filing they signed

JS **Jay Scollins** Mr. Scollins is the Chief Financial Officer and Chief Operating Officer of both the General Partner and the Investment Manager i Filing they signed

We also hold **2** people at this firm from the lists this database was built from: a weaker source than the filings, since a list does not say when a title ended. Login to see them.

## What the register says

From the firm's own filings with the SEC, which it must file accurately by law

**$3.8B** assets it manages Oct 2026

**Registered** investment adviser full reporting to the SEC

- **Legal name:** Cormorant Asset Management, LP
- **SEC number:** CRD 167820

New fund on file

**$24M**

raised in Jun 2026

From its SEC filing, not a journalist: a firm that has just raised has money to deploy.

## The cheque

Series B Series C Venture

Median round joined **$102M** the round, not its cheque Alone, median **$24M**

Led 1 of 176 rounds **1%**

- **Sole investor:** 5 rounds
- **Last cheque:** Oct 2026

Rounds by stage said on their site

- Series B *27*
- Series C *22*
- Venture *17*
- Series A *17*
- Series D *13*

Cheques by month Led Joined

Nov 2023 Oct 2026

Often in the room with

- [RA Capital Management](https://millionrounds.com/fund/ra-capital-management) 45
- [Janus Henderson Investors](https://millionrounds.com/fund/janus-henderson-investors) 39
- [OrbiMed](https://millionrounds.com/fund/orbimed) 27
- [Perceptive Advisors](https://millionrounds.com/fund/perceptive-advisors) 26
- [Wellington Management](https://millionrounds.com/fund/wellington-management) 25
- [Redmile Group](https://millionrounds.com/fund/redmile-group) 19

**Pitching Cormorant Asset Management?** Put them on your fundraising board with this record on the card, and follow them to hear when they write a new cheque.

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## Who they invest alongside

The investors most often in the same rounds as Cormorant Asset Management. A count of rooms they were both in, not a relationship either has claimed.

[**RA Capital Management** Private equity **45** rounds together](https://millionrounds.com/fund/ra-capital-management)[**Janus Henderson Investors** Private equity **39** rounds together](https://millionrounds.com/fund/janus-henderson-investors)[**OrbiMed** Private equity **27** rounds together](https://millionrounds.com/fund/orbimed)[**Perceptive Advisors** Asset manager **26** rounds together](https://millionrounds.com/fund/perceptive-advisors)[**Wellington Management** VC firm **25** rounds together](https://millionrounds.com/fund/wellington-management)[**Redmile Group** VC firm **19** rounds together](https://millionrounds.com/fund/redmile-group)[**RTW Investments LLC** Growth equity **18** rounds together](https://millionrounds.com/fund/rtw-investments-lp)[**Foresite Capital** Private equity **17** rounds together](https://millionrounds.com/fund/forsite-capital)[**Vivo Capital** Private equity **14** rounds together](https://millionrounds.com/fund/vivo-capital)[**Samsara BioCapital** VC firm **13** rounds together](https://millionrounds.com/fund/samsara-biocapital)[**ARCH Venture Partners** VC firm **11** rounds together](https://millionrounds.com/fund/arch-venture-partners)[**Fidelity** VC firm **11** rounds together](https://millionrounds.com/fund/fidelity)

## Recently backed

The latest companies Cormorant Asset Management put money into.

[**Dren Bio** $350M · Oct 2026](https://millionrounds.com/company/dren-bio)[**Star Therapeutics** $200M · Oct 2026](https://millionrounds.com/company/star-therapeutics)[**Tyra Biosciences** $400M · Sept 2026](https://millionrounds.com/company/tyra-biosciences)[**Orbis Medicines** $94M · Sept 2026](https://millionrounds.com/company/orbis-medicines)[**Epicrispr Biotechnologies** $90M · Aug 2026](https://millionrounds.com/company/epicrispr-biotechnologies)[**FORE Biotherapeutics** $67M · Jul 2026](https://millionrounds.com/company/fore-biotherapeutics)

## Quick answers about Cormorant Asset Management

### What does Cormorant Asset Management invest in?

Cormorant Asset Management invests most often at Series B and Series C (51% of the rounds on record), in sectors such as Pharmaceutical and Therapeutics.

### How active is Cormorant Asset Management?

176 investments on record, 50 of them in the last 12 months, and it led 1. The most recent was in Oct 2026.

### What has Cormorant Asset Management invested in recently?

Its most recent investments on record: Dren Bio (Undisclosed round, Oct 2026), Star Therapeutics (Undisclosed round, Oct 2026) and Zai Lab (Undisclosed round, Oct 2026).

### How big are Cormorant Asset Management's cheques?

The median round it joins is $102M.

### Does Cormorant Asset Management lead rounds?

Sometimes: it led 1 of its 176 investments on record (1%).

### Where does Cormorant Asset Management invest?

Most of the companies it backs are in the United States (82%) and Switzerland (8%).

### Is Cormorant Asset Management investing now?

Yes: it is actively investing, with 50 investments in the last 12 months.

### Who does Cormorant Asset Management invest alongside?

Most often RA Capital Management (45 rounds together), Janus Henderson Investors (39 rounds together) and OrbiMed (27 rounds together).

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