PIF had an active year in 2017. We closed on $171 million in capital, launched two new companies, and made eight follow-on investments. We also had three exits, including two IPOs and one transformative acquisition.

Allergan purchased an exclusive option right to acquire Lysosomal Therapeutics (LTI) in January 2017. LTI focuses on small-molecule treatments for patients with severe neurological diseases, including Parkinson’s.

Spero completed their IPO on October 2, 2017 (NASDAQ: SPRO). Spero is advancing novel treatments for multi-drug resistant bacterial infections.

Market Cap $205 million.

Denali completed the largest biotech IPO of 2017, raising $248 million on 12/8/17 (NASDAQ: DNLI). Denali is developing new treatments for neurodegenerative disorders including Parkinson’s and Alzheimer’s.  

Market Cap $1.9 billion

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