By Steve Elms and Andrew Schiff, M.D., Managing Partners, Aisling Capital
Today, we have the pleasure of announcing the close of our most recent round of funding at Aisling Capital, a $280 million late-stage venture capital fund aimed at accelerating breakthrough medical treatments to market and improving global health.
One thing we are continually impressed by at Aisling is the constant evolution of both the biotech industry and medical science, especially in regard to improving patients’ lives. We would like to think that thanks in part to our work, Aisling has helped to increase the number of quality medical treatments in development — which today is larger than ever before.
As experience from across Wall Street and medicine came together in 2000 to form what would become Aisling, we observed a pattern of venture capital supporting company formation and raw scientific research. Ultimately however, these companies required substantial additional capital and financial strategy to bring drugs through the clinic and onto the market.
We continue to execute on this opportunity to invest in both private and public companies with therapeutics in the clinical stage, the final and most expensive leg of the relay race that is drug development. With our partners’ combination of financial, operational and clinical experience, we decided to focus on helping companies in this final leg of the race — helping to get treatments into the hands of people who need it.
The Aisling approach of identifying and investing in promising biotech companies in the later stages of drug development has generally served us well. Over the last 17 years, we have witnessed — and in many cases been a catalyst for — medical innovations in areas ranging from the treatment of cancer and infectious disease, to body contouring procedures and innovative dermatology products.
While Aisling has a history of thinking holistically about the intersection of medical science and financial strategy for late-stage startups, the industry at large now seems to be moving in this direction also. We have seen a maturing among biotech entrepreneurs. Management teams are now more focused on ensuring their investors have the right financial expertise to help them fund the final stages of drug development. Rather than spending significant resources experimenting prior to moving into clinical stages, most companies now start on a path toward the development of a treatment or medication at the outset or shortly after.
Today, every biotech startup must develop treatments that generate significant upside for patient care through more impact on disease, fewer side effects, and a shift away from toxic therapies toward a personalized approach. We are pleased to have the resources to continue to be a significant participant in our market and help the companies we invest in achieve this goal. We are also grateful to have excellent relationships with likeminded co-investors and work collaboratively with them to provide the support our portfolio companies need to solve some of the world’s most persistent medical challenges.
On behalf of Aisling Capital, we want to thank all of our management teams for their unrelenting and unwavering efforts to advance not only their drugs in development, but the sector overall. Of course, we serve at the pleasure of our limited partners and are grateful for their trust, confidence and continued support, and are committed to being good shepherds of their capital by continuing our mission to accelerate breakthrough medical treatments to market.