# Cormorant Asset Management Portfolio Map 2026: 123 Startups by Sector > Cormorant Asset Management's portfolio mapped: 123 startups it has backed, in 3 sectors from Biotech, Pharma and Healthtech on. Source: https://millionrounds.com/portfolio-maps/cormorant-asset-management-portfolio-map (Millionrounds; every figure on the page links to its filing or article) ## Biotech 95 - [Oruka Therapeutics](https://millionrounds.com/company/oruka-therapeutics) - [Candid Therapeutics](https://millionrounds.com/company/candid-therapeutics) - [Tango Therapeutics](https://millionrounds.com/company/tango-therapeutics) - [Avidity Biosciences](https://millionrounds.com/company/avidity-biosciences) - [Structure Therapeutics](https://millionrounds.com/company/structure-therapeutics) - [Erasca](https://millionrounds.com/company/erasca) - [Spyre Therapeutics](https://millionrounds.com/company/spyre-therapeutics) - [Tyra Biosciences](https://millionrounds.com/company/tyra-biosciences) - [Freenome](https://millionrounds.com/company/freenome) - [Akero Therapeutics](https://millionrounds.com/company/akero-therapeutics) - [*TP* Turning Point Therapeutics](https://millionrounds.com/company/turning-point-therapeutics) - [Enliven Therapeutics](https://millionrounds.com/company/enliven-therapeutics) - [Wave Life Sciences](https://millionrounds.com/company/wave-life-sciences) - [Artiva Biotherapeutics](https://millionrounds.com/company/artiva-biotherapeutics) - [Orchard Therapeutics](https://millionrounds.com/company/orchard-therapeutics) - [Dren Bio](https://millionrounds.com/company/dren-bio) - [Pliant Therapeutics](https://millionrounds.com/company/pliant-therapeutics) - [Alumis](https://millionrounds.com/company/alumis) - [Solid Biosciences](https://millionrounds.com/company/solid-biosciences) - [*VB* Viela Bio](https://millionrounds.com/company/viela-bio) - [Star Therapeutics](https://millionrounds.com/company/star-therapeutics) - [Beam Therapeutics](https://millionrounds.com/company/beam-therapeutics) - [*A* Atreca](https://millionrounds.com/company/atreca) - [*ZL* Zai Lab](https://millionrounds.com/company/zai-lab) +71 more ## Pharma 15 - [Parabilis Medicines](https://millionrounds.com/company/parabilis-medicines) - [Autolus](https://millionrounds.com/company/autolus) - [*CT* Crystalys Therapeutics](https://millionrounds.com/company/crystalys-therapeutics) - [Corvus Pharmaceuticals](https://millionrounds.com/company/corvus-pharmaceuticals) - [GH Research](https://millionrounds.com/company/gh-research) - [Edgewise Therapeutics](https://millionrounds.com/company/edgewise-therapeutics) - [Antares Therapeutics](https://millionrounds.com/company/antares-therapeutics) - [Ovid Therapeutics](https://millionrounds.com/company/ovid-therapeutics) - [Tessera Therapeutics](https://millionrounds.com/company/tessera-therapeutics) - [Elpiscience Biopharmaceuticals](https://millionrounds.com/company/elpiscience-biopharmaceuticals) - [Umoja Biopharma](https://millionrounds.com/company/umoja-biopharma) - [Interius BioTherapeutics](https://millionrounds.com/company/interius-biotherapeutics) - [Rain Oncology](https://millionrounds.com/company/rain-oncology) - [Elevation Oncology](https://millionrounds.com/company/elevation-oncology) - [Ventyx Biosciences](https://millionrounds.com/company/ventyx-biosciences) ## Healthtech 13 - [Tricida](https://millionrounds.com/company/tricida) - [Orbis Medicines](https://millionrounds.com/company/orbis-medicines) - [Axonics Modulation Technologies](https://millionrounds.com/company/axonics-modulation-technologies) - [Supira Medical](https://millionrounds.com/company/supira-medical) - [Kezar Life Sciences](https://millionrounds.com/company/kezar-life-sciences) - [Renovia](https://millionrounds.com/company/renovia) - [Akura Medical](https://millionrounds.com/company/akura-medical) - [Adona Medical](https://millionrounds.com/company/adona-medical) - [Myra Vision](https://millionrounds.com/company/myra-vision) - [Tioga Cardiovascular](https://millionrounds.com/company/tioga-cardiovascular) - [Navigantis](https://millionrounds.com/company/navigantis) - [*AM* Averto Medical](https://millionrounds.com/company/averto-medical) - [connectRN](https://millionrounds.com/company/connectrn) ## Segment by segment ### Biotech 95 startups · $21B 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 - [**Tango Therapeutics**](https://millionrounds.com/company/tango-therapeutics) Tango Therapeutics is a biotechnology company that is developing next generation cancer therapies. United States $852M - [**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 - [**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 - [**Erasca**](https://millionrounds.com/company/erasca) Erasca is a developer of oncology drugs intended to provide precision oncology options. United States $739M - [**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 ### Pharma 15 startups · $2.8B raised - [**Parabilis Medicines**](https://millionrounds.com/company/parabilis-medicines) Parabilis Medicines is a Grupo Bugio is a biopharmaceutical firm that specializes in creating medicines. United States $380M - [**Autolus**](https://millionrounds.com/company/autolus) Autolus is a biopharmaceutical company focused on T-cell programming and manufacturing technology. United Kingdom $350M - [*CT* **Crystalys Therapeutics**](https://millionrounds.com/company/crystalys-therapeutics) United States $335M - [**Corvus Pharmaceuticals**](https://millionrounds.com/company/corvus-pharmaceuticals) Corvus Pharmaceuticals is a clinical-stage biopharmaceutical company. United States $310M - [**GH Research**](https://millionrounds.com/company/gh-research) GH Research is a biopharmaceutical company developing novel therapies for the management of mental illness. Ireland $268M - [**Edgewise Therapeutics**](https://millionrounds.com/company/edgewise-therapeutics) Edgewise Therapeutics is a clinical-stage biopharmaceutical company focused on the discovery, development and commercialization. United States $200M - [**Antares Therapeutics**](https://millionrounds.com/company/antares-therapeutics) Antares Therapeutics, Inc. United States $177M - [**Ovid Therapeutics**](https://millionrounds.com/company/ovid-therapeutics) Ovid Therapeutic's purpose is to solve intractable medical problems. United States $166M ### Healthtech 13 startups · $1.1B raised - [**Tricida**](https://millionrounds.com/company/tricida) Tricida operates in the healthcare industry focusing on pharmaceutical business. United States $327M - [**Orbis Medicines**](https://millionrounds.com/company/orbis-medicines) Orbis Medicines is a biotechnology company based in Copenhagen, Denmark, with an additional presence in Lausanne, Switzerland. Denmark $187M - [**Axonics Modulation Technologies**](https://millionrounds.com/company/axonics-modulation-technologies) Axonics Modulation Technologies is a pre-revenue company developing novel implantable neuromodulation. United States $144M - [**Supira Medical**](https://millionrounds.com/company/supira-medical) Supira Medical is a clinical-stage medical device company based in Los Gatos, California. United States $136M - [**Kezar Life Sciences**](https://millionrounds.com/company/kezar-life-sciences) Kezar Life Sciences company focused on the discovery and development of drugs targeting protein homeostasis for autoimmune disorde United States $85M - [**Renovia**](https://millionrounds.com/company/renovia) Renovia provides commercial painting, sealants, wood replacement, pressure washing, wet glazing, and tuckpointing services. United States $59M - [**Akura Medical**](https://millionrounds.com/company/akura-medical) Tecnología e innovación para profesionales de la odontología. United States $53M - [**Adona Medical**](https://millionrounds.com/company/adona-medical) Adona Medical is a clinical-stage medical technology company based in Los Gatos, California, founded in 2017. United States $36M **How this map is made.** Every startup here has raised money in a round we track that names Cormorant Asset Management as an investor, the first in 2015. Each sits under its main sector, read from its rounds, and each sector shows its best-funded first; sectors with fewer than three companies are left off. Rebuilt nightly; updated 15 November 2026. ## More portfolio maps [All portfolios](https://millionrounds.com/portfolio-maps) [Private equity · United States **Gaingels** 493 startups · 12 sectors · $40B](https://millionrounds.com/portfolio-maps/gaingels-portfolio-map)[Private equity · United States **Goldman Sachs** 294 startups · 12 sectors · $163B](https://millionrounds.com/portfolio-maps/goldman-sachs-portfolio-map)[Private equity · United States **Pioneer Fund** 289 startups · 12 sectors · $5.9B](https://millionrounds.com/portfolio-maps/pioneer-fund-2-portfolio-map)[Private equity · United States **RA Capital Management** 264 startups · 5 sectors · $48B](https://millionrounds.com/portfolio-maps/ra-capital-management-portfolio-map)[Private equity · United States **OrbiMed** 221 startups · 4 sectors · $34B](https://millionrounds.com/portfolio-maps/orbimed-portfolio-map)[Private equity · United States **Morgan Stanley Investment Management** 112 startups · 12 sectors · $171B](https://millionrounds.com/portfolio-maps/morgan-stanley-investment-management-portfolio-map) ## Raising from investors like Cormorant Asset Management? 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