# Cormorant Asset Management's Biotech Investments: 95 Startups in Its Portfolio (2026) > The 95 Biotech startups Cormorant Asset Management has backed, by stage: $21B raised between them. From the rounds we track; updated nightly. Source: https://millionrounds.com/portfolio-maps/cormorant-asset-management-biotech-portfolio (Millionrounds; every figure on the page links to its filing or article) ## Stage not reported 35 - [Oruka Therapeutics](https://millionrounds.com/company/oruka-therapeutics) - [Candid Therapeutics](https://millionrounds.com/company/candid-therapeutics) - [Structure Therapeutics](https://millionrounds.com/company/structure-therapeutics) - [Spyre Therapeutics](https://millionrounds.com/company/spyre-therapeutics) - [Tyra Biosciences](https://millionrounds.com/company/tyra-biosciences) - [Freenome](https://millionrounds.com/company/freenome) - [*TP* Turning Point Therapeutics](https://millionrounds.com/company/turning-point-therapeutics) - [Enliven Therapeutics](https://millionrounds.com/company/enliven-therapeutics) - [Dren Bio](https://millionrounds.com/company/dren-bio) - [Alumis](https://millionrounds.com/company/alumis) - [Valneva](https://millionrounds.com/company/valneva) - [Monte Rosa Therapeutics](https://millionrounds.com/company/monte-rosa-therapeutics) - [GondolaBio](https://millionrounds.com/company/gondolabio) - [MoonLake Immunotherapeutics](https://millionrounds.com/company/moonlake-immunotherapeutics) - [Rapport Therapeutics](https://millionrounds.com/company/rapport-therapeutics) - [Centessa Pharmaceuticals](https://millionrounds.com/company/centessa-pharmaceuticals) - [Cabaletta Bio](https://millionrounds.com/company/cabaletta-bio) - [X4 Pharmaceuticals](https://millionrounds.com/company/x4-pharmaceuticals) - [OnKure Therapeutics](https://millionrounds.com/company/onkure-therapeutics) - [Replimune Group](https://millionrounds.com/company/replimune-group) - [Quince Therapeutics](https://millionrounds.com/company/quince-therapeutics) - [C4 Therapeutics](https://millionrounds.com/company/c4-therapeutics) - [CARGO Therapeutics](https://millionrounds.com/company/cargo-therapeutics) - [Climb Bio](https://millionrounds.com/company/climb-bio) +11 more ## Series C and later 26 - [Avidity Biosciences](https://millionrounds.com/company/avidity-biosciences) - [Orchard Therapeutics](https://millionrounds.com/company/orchard-therapeutics) - [Solid Biosciences](https://millionrounds.com/company/solid-biosciences) - [Star Therapeutics](https://millionrounds.com/company/star-therapeutics) - [*A* Atreca](https://millionrounds.com/company/atreca) - [*ZL* Zai Lab](https://millionrounds.com/company/zai-lab) - [Terremoto Biosciences](https://millionrounds.com/company/terremoto-biosciences) - [Electra Therapeutics](https://millionrounds.com/company/electra-therapeutics) - [Triveni Bio](https://millionrounds.com/company/triveni-bio) - [908 Devices](https://millionrounds.com/company/908-devices) - [RayzeBio](https://millionrounds.com/company/rayzebio) - [Moximed](https://millionrounds.com/company/moximed) - [FORMA Therapeutics](https://millionrounds.com/company/forma-therapeutics) - [Aspen Neuroscience](https://millionrounds.com/company/aspen-neuroscience) - [AgomAB Therapeutics](https://millionrounds.com/company/agomab-therapeutics) - [FORE Biotherapeutics](https://millionrounds.com/company/fore-biotherapeutics) - [New Horizon Health](https://millionrounds.com/company/new-horizon-health) - [Epicrispr Biotechnologies](https://millionrounds.com/company/epicrispr-biotechnologies) - [Attovia Therapeutics](https://millionrounds.com/company/attovia-therapeutics) - [Strata Oncology](https://millionrounds.com/company/strata-oncology) - [AnaptysBio](https://millionrounds.com/company/anaptysbio) - [Aardvark Therapeutics](https://millionrounds.com/company/aardvark-therapeutics) - [Clearside Biomedical](https://millionrounds.com/company/clearside-biomedical) - [Orionis Biosciences](https://millionrounds.com/company/orionis-biosciences) +2 more ## Series B 20 - [Akero Therapeutics](https://millionrounds.com/company/akero-therapeutics) - [Wave Life Sciences](https://millionrounds.com/company/wave-life-sciences) - [Artiva Biotherapeutics](https://millionrounds.com/company/artiva-biotherapeutics) - [Pliant Therapeutics](https://millionrounds.com/company/pliant-therapeutics) - [*VB* Viela Bio](https://millionrounds.com/company/viela-bio) - [Beam Therapeutics](https://millionrounds.com/company/beam-therapeutics) - [Stoke Therapeutics](https://millionrounds.com/company/stoke-therapeutics) - [Adlai Nortye](https://millionrounds.com/company/adlai-nortye) - [Graphite Bio](https://millionrounds.com/company/graphite-bio) - [MOMA Therapeutics](https://millionrounds.com/company/moma-therapeutics) - [*HT* Harpoon Therapeutics](https://millionrounds.com/company/harpoon-therapeutics) - [Chroma Medicine](https://millionrounds.com/company/chroma-medicine) - [Pharvaris](https://millionrounds.com/company/pharvaris) - [Vigil Neuroscience](https://millionrounds.com/company/vigil-neuroscience) - [Akouos](https://millionrounds.com/company/akouos) - [*DP* DTx Pharma](https://millionrounds.com/company/dtx-pharma) - [*M* MyoKardia](https://millionrounds.com/company/myokardia) - [Arkuda Therapeutics](https://millionrounds.com/company/arkuda-therapeutics) - [*C* Corvidia](https://millionrounds.com/company/corvidia) - [858 Therapeutics](https://millionrounds.com/company/858-therapeutics) ## Series A 14 - [Tango Therapeutics](https://millionrounds.com/company/tango-therapeutics) - [Erasca](https://millionrounds.com/company/erasca) - [Verve Therapeutics](https://millionrounds.com/company/verve-therapeutics) - [Neurogene](https://millionrounds.com/company/neurogene) - [Nexo Therapeutics](https://millionrounds.com/company/nexo-therapeutics) - [Icosavax](https://millionrounds.com/company/icosavax) - [Axonis Therapeutics](https://millionrounds.com/company/axonis-therapeutics) - [Synnovation Therapeutics](https://millionrounds.com/company/synnovation-therapeutics) - [Avrobio](https://millionrounds.com/company/avrobio) - [GC Therapeutics](https://millionrounds.com/company/gc-therapeutics) - [BioShin](https://millionrounds.com/company/bioshin) - [Third Arc Bio](https://millionrounds.com/company/third-arc-bio) - [Stratus Therapeutics](https://millionrounds.com/company/stratus-therapeutics) - [Garuda Therapeutics](https://millionrounds.com/company/garuda-therapeutics) ## Segment by segment ### Stage not reported 35 startups · $9.4B raised - [**Oruka Therapeutics**](https://millionrounds.com/company/oruka-therapeutics) Oruka Therapeutics is advancing innovative biologics to redefine patient care standards in chronic skin diseases. United States $880M - [**Candid Therapeutics**](https://millionrounds.com/company/candid-therapeutics) Candid Therapeutics was a clinical-stage biotechnology company based in San Diego, California, founded in 2024. United States $875M - [**Structure Therapeutics**](https://millionrounds.com/company/structure-therapeutics) Structure Therapeutics specializes in the discovery and development of drugs against a type of targets called GPCR. United States $748M - [**Spyre Therapeutics**](https://millionrounds.com/company/spyre-therapeutics) Spyre Therapeutics is a biotechnology business that is developing a strong pipeline of antibody therapies. United States $678M - [**Tyra Biosciences**](https://millionrounds.com/company/tyra-biosciences) Tyra Biosciences is a biotechnology company targeting new pathways of acquired resistance in oncology with purpose-built drugs. United States $600M - [**Freenome**](https://millionrounds.com/company/freenome) Freenome is a biotechnology company with a comprehensive multiomics platform for cancer detection using a routine blood draw. United States $553M - [*TP* **Turning Point Therapeutics**](https://millionrounds.com/company/turning-point-therapeutics) Turning Point Therapeutics is a pharmaceutical company that discovers and develops precision medicines for cancer and other diseases. - $460M - [**Enliven Therapeutics**](https://millionrounds.com/company/enliven-therapeutics) Enliven 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 - [**Avidity Biosciences**](https://millionrounds.com/company/avidity-biosciences) Synapse Energy Economics is a consulting firm providing economic and policy analysis for the electric power sector. United States $790M - [**Orchard Therapeutics**](https://millionrounds.com/company/orchard-therapeutics) Orchard Therapeutics is a biotechnology company dedicated to assisting patients through innovative gene therapies. United Kingdom $377M - [**Solid Biosciences**](https://millionrounds.com/company/solid-biosciences) Solid Biosciences is a life science company that conducts research for the treatment of Duchenne muscular dystrophy. United States $333M - [**Star Therapeutics**](https://millionrounds.com/company/star-therapeutics) Star Therapeutics is a clinical-stage biotechnology company based in South San Francisco, California, founded in 2018. United States $325M - [*A* **Atreca**](https://millionrounds.com/company/atreca) Atreca develops a technology to identify the set of antibodies produced during an immune response, without prior knowledge of an antigen. United States $313M - [*ZL* **Zai Lab**](https://millionrounds.com/company/zai-lab) China $310M - [**Terremoto Biosciences**](https://millionrounds.com/company/terremoto-biosciences) Terremoto Biosciences is a clinical-stage biotechnology company founded in 2021, focused on covalent drug discovery and development. United States $283M - [**Electra Therapeutics**](https://millionrounds.com/company/electra-therapeutics) Electra 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 - [**Akero Therapeutics**](https://millionrounds.com/company/akero-therapeutics) Akero Therapeutics is a biotechnology company focused on reversing the NASH epidemic by restoring the body’s metabolism to a balanced state. United States $502M - [**Wave Life Sciences**](https://millionrounds.com/company/wave-life-sciences) Wave Life Sciences is a clinical-stage RNA medicines company committed to delivering life-changing treatments for people battling United States $434M - [**Artiva Biotherapeutics**](https://millionrounds.com/company/artiva-biotherapeutics) Artiva Biotherapeutics is a biotech company focused on developing and commercializing allogeneic natural killer (NK) cell therapies. United States $420M - [**Pliant Therapeutics**](https://millionrounds.com/company/pliant-therapeutics) Pliant Therapeutics focuses on discovering, developing, and commercializing breakthrough treatments for fibrotic diseases. United States $350M - [*VB* **Viela Bio**](https://millionrounds.com/company/viela-bio) Viela Bio is a clinical-stage biotechnology company pioneering and advancing treatments for severe inflammation and autoimmune diseases. United States $325M - [**Beam Therapeutics**](https://millionrounds.com/company/beam-therapeutics) Beam Therapeutics is a biotechnology company developing precision genetic medicines through the use of base editing technology. United States $322M - [**Stoke Therapeutics**](https://millionrounds.com/company/stoke-therapeutics) Stoke is developing antisense oligonucleotide medicines that target RNA splicing to increase gene expression for treatment. United States $255M - [**Adlai Nortye**](https://millionrounds.com/company/adlai-nortye) Adlai Nortye is a clinical-stage biopharmaceutical company that deveops cancer treatments for diverse tumor types. China $190M ### Series A 14 startups · $2.8B raised - [**Tango Therapeutics**](https://millionrounds.com/company/tango-therapeutics) Tango Therapeutics is a biotechnology company that is developing next generation cancer therapies. United States $852M - [**Erasca**](https://millionrounds.com/company/erasca) Erasca is a developer of oncology drugs intended to provide precision oncology options. United States $739M - [**Verve Therapeutics**](https://millionrounds.com/company/verve-therapeutics) Verve Therapeutics is a genetic medicine firm that is developing treatments for cardiovascular disease. United States $202M - [**Neurogene**](https://millionrounds.com/company/neurogene) Neurogene is a developer of genetic medicines intended to improve patient outcomes for neurological disorders. United States $194M - [**Nexo Therapeutics**](https://millionrounds.com/company/nexo-therapeutics) Nexo Therapeutics is a biotechnology company dedicated to discovering and developing small-molecule therapies, particularly in onc United States $120M - [**Icosavax**](https://millionrounds.com/company/icosavax) Icosavax is focused on developing safe and effective vaccines against infectious diseases that address important unmet medical needs. United States $119M - [**Axonis Therapeutics**](https://millionrounds.com/company/axonis-therapeutics) Axonis Therapeutics is a Boston-based biotechnology company founded in 2019, focused on developing innovative oral therapies for n United States $115M - [**Synnovation Therapeutics**](https://millionrounds.com/company/synnovation-therapeutics) Synnovation 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. ## More portfolio maps [All portfolios](https://millionrounds.com/portfolio-maps) [Sector portfolio **Cormorant Asset Management's Pharma portfolio** 14 startups · $2.6B](https://millionrounds.com/portfolio-maps/cormorant-asset-management-pharma-portfolio)[Sector portfolio **Cormorant Asset Management's Healthtech portfolio** 12 startups · $1.1B](https://millionrounds.com/portfolio-maps/cormorant-asset-management-healthtech-portfolio)[Portfolio map **Cormorant Asset Management portfolio map** 123 startups · $25B](https://millionrounds.com/portfolio-maps/cormorant-asset-management-portfolio-map)[Co-investors **Who invests with Cormorant Asset Management** 97 co-investors](https://millionrounds.com/portfolio-maps/cormorant-asset-management-co-investors)[Sector portfolio **RA Capital Management's Biotech portfolio** 197 startups · $38B](https://millionrounds.com/portfolio-maps/ra-capital-management-biotech-portfolio)[Sector portfolio **OrbiMed's Biotech portfolio** 176 startups · $28B](https://millionrounds.com/portfolio-maps/orbimed-biotech-portfolio) ## Raising from investors like Cormorant Asset Management? 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