Cormorant Asset Management

Cormorant Asset Management is a Boston-based healthcare and biotech-focused crossover investment firm that invests in both public and private life science companies, operating as a long-short equity hedge fund alongside a dedicated venture investment practice for private biotech companies. The firm specializes in biopharmaceuticals, biotechnology, and medical technology investments, applying rigorous scientific and financial diligence to identify companies at the forefront of drug discovery, precision medicine, and clinical development. Cormorant functions as a crossover investor, building positions in private companies before IPO and maintaining or expanding those positions in the public markets, giving portfolio companies a stable institutional investor who understands the science deeply. Portfolio companies include Achaogen, the antibiotic-focused biopharmaceutical company that unfortunately filed for bankruptcy in 2019 after its FDA-approved drug Plazomicin did not achieve sufficient commercial traction; Arctus, a biopharmaceutical company; Eidos Therapeutics, a clinical-stage company developing treatments for transthyretin amyloidosis that was acquired by BridgeBio; and Passage Bio, a gene therapy company that completed a Nasdaq IPO in 2020. Beyond its original investments in Achaogen, Arctus, Eidos, and Passage Bio, the portfolio includes additional clinical-stage biotech companies.