Sector portfolio · Private equity · United States

Cormorant Asset Management's Biotech portfolio

Cormorant Asset Management has backed 95 Biotech startups in rounds we track, $21B between them, shown by the stage each has reached. The best-funded is Oruka Therapeutics.

95startups backed
4stages
$21Braised between them
Stage not reportedbiggest stage

Cormorant Asset Management's whole portfolioCormorant Asset Management's profile

Stage not reported

35

+11 more

Series C and later

26

+2 more

Series B

20

Series A

14

Segment by segment

Stage not reported

35 startups · $9.4B raised

  1. Oruka TherapeuticsOruka Therapeutics is advancing innovative biologics to redefine patient care standards in chronic skin diseases.United States$880M
  2. Candid TherapeuticsCandid Therapeutics was a clinical-stage biotechnology company based in San Diego, California, founded in 2024.United States$875M
  3. Structure TherapeuticsStructure Therapeutics specializes in the discovery and development of drugs against a type of targets called GPCR.United States$748M
  4. Spyre TherapeuticsSpyre Therapeutics is a biotechnology business that is developing a strong pipeline of antibody therapies.United States$678M
  5. Tyra BiosciencesTyra Biosciences is a biotechnology company targeting new pathways of acquired resistance in oncology with purpose-built drugs.United States$600M
  6. FreenomeFreenome is a biotechnology company with a comprehensive multiomics platform for cancer detection using a routine blood draw.United States$553M
  7. TPTurning Point TherapeuticsTurning Point Therapeutics is a pharmaceutical company that discovers and develops precision medicines for cancer and other diseases.-$460M
  8. Enliven TherapeuticsEnliven Therapeutics is a precision oncology company developing small molecule therapies to extend and improve patient lives.United States$460M

Series C and later

26 startups · $4.8B raised

  1. Avidity BiosciencesSynapse Energy Economics is a consulting firm providing economic and policy analysis for the electric power sector.United States$790M
  2. Orchard TherapeuticsOrchard Therapeutics is a biotechnology company dedicated to assisting patients through innovative gene therapies.United Kingdom$377M
  3. Solid BiosciencesSolid Biosciences is a life science company that conducts research for the treatment of Duchenne muscular dystrophy.United States$333M
  4. Star TherapeuticsStar Therapeutics is a clinical-stage biotechnology company based in South San Francisco, California, founded in 2018.United States$325M
  5. AAtrecaAtreca develops a technology to identify the set of antibodies produced during an immune response, without prior knowledge of an antigen.United States$313M
  6. ZLZai LabChina$310M
  7. Terremoto BiosciencesTerremoto Biosciences is a clinical-stage biotechnology company founded in 2021, focused on covalent drug discovery and development.United States$283M
  8. Electra TherapeuticsElectra Therapeutics is a clinical-stage biotechnology company based in South San Francisco, California, founded in 2018.United States$183M

Series B

20 startups · $4.1B raised

  1. Akero TherapeuticsAkero Therapeutics is a biotechnology company focused on reversing the NASH epidemic by restoring the body’s metabolism to a balanced state.United States$502M
  2. Wave Life SciencesWave Life Sciences is a clinical-stage RNA medicines company committed to delivering life-changing treatments for people battling United States$434M
  3. Artiva BiotherapeuticsArtiva Biotherapeutics is a biotech company focused on developing and commercializing allogeneic natural killer (NK) cell therapies.United States$420M
  4. Pliant TherapeuticsPliant Therapeutics focuses on discovering, developing, and commercializing breakthrough treatments for fibrotic diseases.United States$350M
  5. VBViela BioViela Bio is a clinical-stage biotechnology company pioneering and advancing treatments for severe inflammation and autoimmune diseases.United States$325M
  6. Beam TherapeuticsBeam Therapeutics is a biotechnology company developing precision genetic medicines through the use of base editing technology.United States$322M
  7. Stoke TherapeuticsStoke is developing antisense oligonucleotide medicines that target RNA splicing to increase gene expression for treatment.United States$255M
  8. Adlai NortyeAdlai Nortye is a clinical-stage biopharmaceutical company that deveops cancer treatments for diverse tumor types.China$190M

Series A

14 startups · $2.8B raised

  1. Tango TherapeuticsTango Therapeutics is a biotechnology company that is developing next generation cancer therapies.United States$852M
  2. ErascaErasca is a developer of oncology drugs intended to provide precision oncology options.United States$739M
  3. Verve TherapeuticsVerve Therapeutics is a genetic medicine firm that is developing treatments for cardiovascular disease.United States$202M
  4. NeurogeneNeurogene is a developer of genetic medicines intended to improve patient outcomes for neurological disorders.United States$194M
  5. Nexo TherapeuticsNexo Therapeutics is a biotechnology company dedicated to discovering and developing small-molecule therapies, particularly in oncUnited States$120M
  6. IcosavaxIcosavax is focused on developing safe and effective vaccines against infectious diseases that address important unmet medical needs.United States$119M
  7. Axonis TherapeuticsAxonis Therapeutics is a Boston-based biotechnology company founded in 2019, focused on developing innovative oral therapies for nUnited States$115M
  8. Synnovation TherapeuticsSynnovation Therapeutics is a clinical-stage biotechnology company based in Wilmington, Delaware, founded in 2021.United States$102M

How this map is made. Every startup here works in Biotech and has raised money in a round we track that names Cormorant Asset Management as an investor. Each sits under the stage of its latest round. Rebuilt nightly; updated 15 November 2026.

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