The Pritzker Family, long known for its investment savvy in real estate, is making its formal foray into life sciences through newly formed Bay City Capital (BCC), a merchant banking and management advisory partnership between The Craves Group and Pritzker Family interests. BCC will manage a $100 million fund focused on later-stage private and public companies and corporate spinouts.

Tom Pritzker, president of Hyatt Corp., told Ebb & Flow that he sees BCC as his way of making a long-term mark in the health sciences industry. "We want to create a world class merchant bank specifically in the life sciences sector that offers advisory services and conducts direct investing," Pritzker said. "We want to do this in a more organized fashion and create a going concern rather than buying a few stocks here and there, taking profits and then you're done."