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April 15, 2024

Greenwich-based biotech venture capital fund launches with $500M

Contributed Regeneron Ventures was formed by two former executives of Regeneron Pharmaceuticals.
By David Krechevsky

Regeneron Ventures, a Greenwich-based biotech venture capital fund, announced Monday it has launched with a five-year, $500 million commitment from its exclusive limited partner Regeneron Pharmaceuticals.

Regeneron Ventures will be managed by former Regeneron Pharmaceuticals’ executives Dr. Michael Aberman and Dr. Jay S. Markowitz. The fund will focus on “promising” biopharmaceutical, health care, and health technology companies, it said.

Regeneron Pharmaceuticals has committed $100 million annually for five years to the venture.

“Understanding that the most groundbreaking, transformative approaches to preventing and treating disease may yet to be discovered, the fund will invest for the long-term, agnostic to therapeutic area, technology and stage of development,” Markowitz said.

Both Markowitz and Aberman began their professional careers in medicine before switching to investing and operational roles in biotech. 

“Our goal is to cultivate an ecosystem where the next generation of biotech companies can thrive, drawing on the lessons learned and successes achieved at Regeneron and throughout our careers,” Aberman said. “Together, we will strive to identify and support groundbreaking advancements that push the boundaries of what's possible in science and medicine.”

Before joining Regeneron Ventures, Aberman was CEO and co-founder of XenImmune Therapeutics, a seed stage biotech company. He also previously served as president and CEO of Quentis Therapeutics, an early-stage biotech company. 

Markowitz joined Regeneron Ventures from ARCH Venture Partners, where he was a senior partner. In his three years at ARCH, he was a founder of three companies and served as a board member and advisor for two others. He has 16 years of public market investment experience at T. Rowe Price Associates and Capital World Investors, where he focused on the biotechnology and pharmaceutical industry. From 2017 to 2020, he was an SVP at Regeneron.

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