Experienced Life Sciences Investors

Founded in 1997, Bay City Capital LLC is a life sciences investment firm with a global diversified strategy ranging from seed stage to public companies, and including innovation, restructuring opportunities, and growth investing. Our investment team brings a wealth of experience across all areas of the life sciences industry. Nearly all of our partners have been with the firm for 12 years or more, and they are supported by over 20 investment professionals, distinguished advisers, and scientific advisory board members.

1997 5 Venture Capital Funds $1.3B Capital Commitments

General Life Sciences Funds

Bay City Capital’s general life sciences funds represent approximately $1.3 billion in capital commitments. These funds target a diverse group of life sciences companies, across all stages of development.

Bay City Capital Fund V $500,000,000
Bay City Capital Fund IV $350,000,000
Bay City Capital Fund III $250,000,000
Bay City Capital Fund II $200,000,000
Bay City Capital Fund I $150,000,000

Strategic Relationships

Bay City Capital has a history of strategic relationships with other venture capital firms or funds targeting specific sectors or geographies within the life sciences.  These working relationships help give us a global footprint and vastly expand our deal flow.

Bay City Capital GF Xinde International Life Sciences USD Fund, L.P. Formed in 2016
Earlybird Health Tech Fund Formed in 2016
Decheng Capital China Life Sciences USD Fund I Formed in 2011
Birchmere Ventures III Formed in 2005
North American Nutrition and Agribusiness Fund Formed in 1999


100 Portfolio Companies

Bay City Capital funds have invested in a total of 100 portfolio companies covering a broad range of life science sectors, including biopharmaceuticals, drug discovery and research tools, medical devices, diagnostics, healthcare IT, nutrition, and agribusiness.

Diversification by Healthcare Sector

Products developed by Bay City Capital portfolio companies

  • atherosclerosis
  • cholesterol reduction
  • high triglycerides
  • dyslipidemia
  • vascular inflammation
  • hypertension
  • atrial fibrillation
Metabolic Disorders
  • diabetes
  • hepatic encephalopathy
  • Sleep disorders
  • gout
  • liver failure
  • schizophrenia
  • Parkinson’s
  • depression
  • anesthesia
  • acute pain
  • migraine
  • anxiety
  • ADHD
  • acute leukemia
  • multiple myeloma
  • small cell lung cancer
  • lung cancer
  • solid tumors
  • breast cancer
  • prostate cancer
  • colorectal cancer
  • melanoma
  • myelodysplastic syndrome
  • ovarian cancer
  • non-Hodgkin lymphoma
  • MLL-r leukemia
  • acne
  • Inflammatory skin
  • diseases
  • hyperhydrosis
  • macular degeneration
  • ocular allergy
  • blepharitis
  • glaucoma
  • macular edema
Genetic Disorders
  • cystic fibrosis
  • hemophilia
  • muscular dystrophy
  • urea cycle disorder
  • asthma
Infectious Diseases
  • hepatitis C
  • HIV
  • influenza
  • community-acquired
  • pneumonia
XMedical Dev
  • acute MI
  • chronic pain
  • obesity
  • surgical tools
  • prostate cancer
  • respiratory failure
  • vein valve incompetence
  • large bore cardiac procedures
  • radiocontrast nephropathy
  • peripheral arterial stenosis
  • organic food bars
  • alternative medicine
  • plant-based supplements
  • children’s vitamins
  • flavor enhancers
  • home nutrition
  • DHA supplements
  • transgenic salmon
  • veterinary medicine
  • agribiotech
  • assays & kits
  • systems biology
  • gene expression modulation
  • stem cell collection
  • genomic sequencing
XHealthcare IT
  • Internet ultrasound solution
  • B2B ecommerce – bulk foods
  • consumer mobile health app
  • point-of-care handheld HCIT
  • B2B ecommerce – chemicals
  • in-office patient portal
  • bioinformatics
XMedical Dx
  • molecular dx
  • point of care dx
  • sleep apnea
  • periodontal disease
  • cardiac risk score
  • endothelial dysfunction


Diversification by Stage

Stage at Initial Investment



Bay City Capital seeks to invest its capital in life sciences companies where our operational, financial, and scientific expertise can assist management in building companies. This investment approach has remained largely consistent since 1997.

90% Board Representation 86% lead or co-lead Investor

Partnering with Effective Management
Effective management is critical to the success of our portfolio companies. We assist our portfolio companies in recruiting and retaining key management and advisors, identifying product opportunities, establishing and negotiating strategic partnerships, and providing assistance with product development and execution. We develop close working relationships with our management teams to establish ourselves as true partners in business building. We strongly prefer board representation, and have received a board seat with 90% of our portfolio companies (based on invested capital). We believe this commitment of intellectual capital increases the likelihood of positive outcomes for our investments, and has established us as a preferred partner in the industry.

270 Co-Investors $3.60 Syndication Multiplier

Lead Investor and Syndication
We are typically a lead or co-lead investor in our investments, and have done so 86% of the time (based on invested capital). 270 investor groups have co-invested in Bay City Capital portfolio companies, providing these companies with significant capital beyond our investment. More specifically, for $1.00 invested by Bay City Capital, an additional $3.60 was invested by co-investors.

Liquidity Events
Achieving liquidity for our portfolio companies is an essential component of our investment performance. Not surprisingly, mergers and acquisitions represent our primary exit path, one that is not dependent upon the public market perception of life sciences companies at the time of exit. To help facilitate the acquisition of our portfolio companies, we have developed an extensive network throughout the life sciences industry. We have also encouraged potential acquirers to make co-investments in our portfolio companies early in the development stage. We believe such early and continued involvement from strategic investors increases the likelihood of a successful outcome.