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Foresite Capital raises $969 million fund to invest in healthcare startups across all stages of growth

Health and life science specialist investment firm Foresite Capital has raised a new fund, its fifth to date, totally $969 million in commitments from LPs. This is the firm’s largest fund to date, and was oversubscribed relative to its original target according to fund CEO and founder Dr. Jim Tananbaum, who told me that while the fundraising process started out slow in the early months of the pandemic, it gained steam quickly starting around last fall and ultimately exceeded expectations.

This latest fund actually makes up two separate investment vehicles, Foresite Capital Fund V, and Foresite Capital Opportunity Fund V, but Tananbaum says that the money will be used to fuel investments in line with its existing approach, which includes companies ranging from early- to late-stage, and everything in between. Foresite’s approach is designed to help it be uniquely positioned to shepherd companies from founding (they also have a company-building incubator) all the way to public market exit – and even beyond. Tananbaum said that they’re also very interested in coming in later to startups they have have missed out on at earlier stages of their growth, however.

Image Credits: Foresite Capital

“We can also come into a later situation that’s competitive with a number of hedge funds, and bring something unique to the table, because we have all these value added resources that we used to start companies,” Tananbaum said. “So we have a competitive advantage for later stage deals, and we have a competitive advantage for early stage deals, by virtue of being able to function at a high level in the capital markets.”

Foresite’s other advantage, according to Tananbaum, is that it has long focused on the intersection of traditional tech business mechanics and biotech. That approach has especially paid off in recent years, he says, since the gap between the two continues to narrow.

“We’ve just had this enormous believe that technology, and tools and data science, machine learning, biotechnology, biology, and genetics – they are going to come together,” he told me. “There hasn’t been an organization out there that really speaks both languages well for entrepreneurs, and knows how to bring that diverse set of people together. So that’s what we specialized i,n and we have a lot of resources and a lot of cross-lingual resources, so that techies that can talk to biotechies, and biotechies can talk to techies.”

Foresite extended this approach to company formation with the creation of Foresite Labs, an incubation platform that it spun up in October 2019 to leverage this experience at the earliest possible stage of startup founding. It’s run by Dr. Vik Bajaj, who was previously co-founder and Chief Science Officer of Alphabet’s Verily health sciences enterprise.

“What’s going on, or last couple decades, is that the innovation cycles are getting faster and faster,” Tananbaum said. “So and then at some point, the people that are having the really big wins on the public side are saying, ‘Well, these really big wins are being driven by innovation, and by quality science, so let’s go a little bit more upstream on the quality science.’”

That has combined with shorter and shorter healthcare product development cycles, he added, aided by general improvements in technology. Tananbaum pointed out that when he began Foresite in 2011, even, the time horizons for returns on healthcare investments were significantly longer, and at the outside edge of the tolerances of venture economics. Now, however, they’re much closer to those found in the general tech startup ecosystem, even in the case of fundamental scientific breakthroughs.

CAMBRIDGE – DECEMBER 1: Stephanie Chandler, Relay Therapeutics Office Manager, demonstrates how she and her fellow co-workers at the company administer their own COVID tests inside the COVID testing room at Relay Therapeutics in Cambridge, MA on Dec. 1, 2021. The cancer treatment development company converted its coat room into a room where employees get tested once a week. All 100+employees have been back in the office as a result of regular testing. Relay is a Foresite portfolio company. (Photo by Jessica Rinaldi/The Boston Globe via Getty Images)

“Basically, you’re seeing people now really look at biotech in general, in the same kind of way that you would look at a tech company,” he said. “There are these tech metrics that now also apply in biotech, about adoption velocity, other other things that may not exactly equate to immediate revenue, but give you all the core material that usually works over time.”

Overall, Foresite’s investment thesis focuses on funding companies in three areas – therapeutics at the clinical stage, infrastructure focused on automation and data generation, and what Tananbaum calls “individualized care.” All three are part of a continuum in the tech-enabled healthcare end state that he envisions, ultimately resulting “a world where we’re able to, at the individual level, help someone understand what their predispositions are to disease development.” That, Tananbaum suggests, will result in a transformation of this kind of targeted care into an everyday consumer experience – in the same way tech in general has taken previously specialist functions and abilities, and made them generally available to the public at large.

10 of the best workout apps for people looking to build healthier routines

10 of the best workout apps for people looking to build healthier routines

Whether you work at home, don’t like the idea of working out in front of other people, or don’t have the time and money to hire a personal trainer, you don’t have to abandon the idea of working out altogether. There are lots of roads to personal fitness, and some can be found right from your phone. Even better: you don’t need expensive equipment to use fitness apps either.

Whether you want to go for daily runs, do strength training, try easy yoga poses, or engage in HIIT (high intensity interval training), there is undoubtedly an app to help you do it — and some will even help you eat more nutritiously and meal plan along the way too.  Read more…

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IMAGE: Mashable


BEST OVERALL

Nike Training Club

This app is great no matter what your fitness level or budget is.

  • Devices: Android, iOS
  • Free version?: Yes, but limited
  • Price: $14.95 per month


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IMAGE: Mashable


BEST FOR BEGINNERS

Sworkit

This app is perfect for beginners, thanks to its customizable workouts and access to experts.

  • Devices: Android, iOS
  • Free version?: No
  • Price: $5 per month


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IMAGE: Mashable


MOST MOTIVATING

Charity Miles

This app motivates you because it donates to charity for every mile of activity you log.

  • Devices: Android, iOS
  • Price: Free


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IMAGE: Mashable


BEST FOR YOGA

Daily Yoga

With over 100 classes aimed at beginners and the experienced, this app will guide you through your daily yoga workouts.

  • Devices: Android, iOS
  • Price: Free to download, but with in-app purchases


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IMAGE: Mashable


BEST FOR QUICK WORKOUTS

Seven

This app features a variety of science-backed short workouts aimed at deriving maximum benefits.

  • Devices: Android, iOS
  • Free version?: Yes, but limited
  • Price: $9.99 per month or $79.99 per year


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IMAGE: Mashable


BEST WITH COACHING

PEAR Personal Fitness Coach

An app that features eyes-free, hands-free audio coaching to guide you through your daily workout.

  • Devices: Android, iOS
  • Free version?: No, but 30-day free trial
  • Price: $5.99 per month plus in-app purchases


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IMAGE: Mashable


BEST FOR HIIT

8fit

Ideal for people looking for an all-in-one fitness tracker.

  • Devices: Android, iOS
  • Free version?: Yes, but very limited
  • Price: $79.99 per year


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IMAGE: Mashable


BEST FOR WEIGHTLIFTING

Jefit

An ideal fitness app for those most interested in weight-training.

  • Devices: Android, iOS
  • Free version?: Yes, but limited
  • Price: $7 per month


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IMAGE: Mashable


BEST FOR RUNNERS

Runkeeper

This tried-and-true running app is accurate, easy to use, and comes with a wide array of features.

  • Devices: Android, iOS
  • Free version?: Yes, but limited
  • Price: $39.99 per year


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IMAGE: Mashable


BEST FOR BARRE

Barre by Down Dog

This barre app is great for beginners and advanced users looking for clear instruction.

  • Devices: Android, iOS
  • Free version?: Yes, but limited
  • Price: $8 per month


What’s the deal with nano weed edibles?

What’s the deal with nano weed edibles?

The information contained in this article is not a substitute for, or alternative to information from a healthcare practitioner. Please consult a healthcare professional before using any product and check your local laws before making any purchasing decisions.

Edibles are always a gamble, but up-and-coming  nanotechnology in the cannabis space may make popping a weed gummy a more predictable experience.

As someone who lives in a state where marijuana is recreationally legal and regularly consumes potent cannabis products, I like to think that I have a relatively high tolerance for weed. Edibles, though, are a wild card; it’s difficult to find a consistent happy medium between not feeling anything at all or getting too high and being too aware of my eyelids.  Read more…

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