Perceptive launches $210M early-stage fund tied to Garabedian’s accelerator Xontogeny

Two and a half years after Perceptive Advisors’ Chris Garabedian launched Xontogeny to foster biotech start-ups’ growth, the firm has created a $210 million fund that will invest in companies the accelerator is nurturing through the clinical proof-of-concept stage.

Perceptive Xontogeny Venture Fund (PXV) will aim to be the lead or sole investor in about 8-10 series A rounds of $10-$20 million, and will participate in subsequent series B rounds. LPs include endowments, foundations, family offices and institutional investors...