Deerfield Management

Deerfield Management is a New York-based healthcare-focused investment firm that combines elements of hedge fund investing, growth equity, and venture capital to provide flexible capital solutions to biopharmaceutical, biotechnology, and medical technology companies across the full spectrum from seed stage through publicly listed companies. Founded by James E. Flynn and operating with a long-term, fundamental investment philosophy, Deerfield takes a distinctive integrated approach to healthcare investing: it invests in both public equities and private companies, structures complex financing arrangements including royalty monetizations and convertible instruments, and brings scientific and commercial expertise to help portfolio companies navigate drug development, regulatory strategy, and commercial launch. The firm invests at Series A, B, and growth stages with initial checks from $10 million to $50 million. Portfolio companies include Arcus Biosciences, the immuno-oncology company; Imago BioSciences, the myeloproliferative neoplasm drug developer acquired by Bristol-Myers Squibb for $1.35 billion in 2022; Kymera Therapeutics, the targeted protein degradation company; and Passage Bio, the gene therapy company that completed a Nasdaq IPO in 2020. Beyond its original investments in Arcus, Imago, Kymera, and Passage Bio, the portfolio includes additional clinical-stage biopharmaceutical companies.