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 |
PORTFOLIO COMPANIES
| 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
Cardiovascular
- atherosclerosis
- cholesterol reduction
- high triglycerides
- dyslipidemia
- vascular inflammation
- hypertension
- atrial fibrillation
Metabolic Disorders
- diabetes
- hepatic encephalopathy
- Sleep disorders
- gout
- liver failure
CNS
- schizophrenia
- Parkinson’s
- depression
- anesthesia
- acute pain
- migraine
- anxiety
- ADHD
Oncology
- 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
Dermatology
- acne
- Inflammatory skin
- diseases
- hyperhydrosis
Ophthalmology
- macular degeneration
- ocular allergy
- blepharitis
- glaucoma
- macular edema
Genetic Disorders
- cystic fibrosis
- hemophilia
- muscular dystrophy
- urea cycle disorder
Respiratory
- asthma
Infectious Diseases
- hepatitis C
- HIV
- influenza
- community-acquired
- pneumonia
- 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
- Internet ultrasound solution
- B2B ecommerce – bulk foods
- consumer mobile health app
- point-of-care handheld HCIT
- B2B ecommerce – chemicals
- in-office patient portal
- bioinformatics
- molecular dx
- point of care dx
- sleep apnea
- periodontal disease
- cardiac risk score
- endothelial dysfunction
Diversification by Stage
Stage at Initial Investment
CONSISTENT INVESTMENT APPROACH
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.