I am not receiving compensation for it (other than from Seeking Alpha). (e)Entire Agreement. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. The top three positions are Seagen, BeiGene, and Incyte Corporation and they add up to almost ~64% of the portfolio. Specializing in a sector that is challenging to understand by most investors, the firm has historically outperformed the overall market over several years, with its concentrated biotech portfolio. now or hereafter have to the venue of such action or proceeding in any such court or that such action or proceeding was brought in an inconvenient forum. Incyte Corporation (INCY): INCY was already a 1.67M share stake in their first 13F filing in Q2 2003. Baker Brothers Life Sciences, L.P. is one of the larger private funds with 13.9 billion in assets. Additionally, Baker Bros. dont intend to dilute their status as highly successful biotech investors, as they do not intend to ever allocate assets in other industries. Baker Brothers Life Sciences LP. (b)Board of Directors means the Board of Directors of the Company. Cloudflare Ray ID: 7a1449174e9cb39d Recent activity follows. Custodian(s): Continental Stock Transfer & Trust Company, . Angel, Fund of Funds, Venture Capital). Baker Brothers controls ~16% of the business. A privately owned hedge fund sponsor. Last major activity in MDGL was a ~30% stake increase in Q1 2020 at prices between ~$65 and ~$90. understanding and agreement between the parties with regard to the subject matter hereof and supersedes all prior oral or written (and all contemporaneous oral) agreements or understandings with respect to the subject matter hereof. Baker Bros. Advisors LP 860 Washington Street, 3 rd Floor New York, NY 10014 (212) 339-5690 (Name, address and telephone number of person authorized to receive notices and communications) October 11, 2019 (Date of event which requires filing of this statement) Analytical cookies are used to understand how visitors interact with the website. WHEREAS, the Company and the Investor are parties to that certain Nominating Agreement dated January15, 2021 (the Original Since then, the activity has been minor. Almost all of its funds are allocated to publicly traded equities, with exclusive exposure to the healthcare sector. Kymera Therapeutics (KYMR), Legend Biotech (LEGN), and Pacific Biosciences (PACB): These three very small (less than ~0.65% of the portfolio each) stakes were increased during the quarter. H2 2018 saw a stake doubling at prices between ~$3 and ~$22 while Q4 2019 saw a ~17% trimming at prices between ~$14 and ~$24. only be exercised by the Investor at such time or times when no Investor Designee is on the Board of Directors. The below charts are illustrative of the type of graphical data available to our clients and do not represent live data. (a)Governing Law. Is this happening to you frequently? It is a very long-term stake that has been in the portfolio for over fifteen years. (a)Subject at all times to Sections 2(b) and 3(n) below, during the period beginning immediately following the Madrigal Pharmaceuticals (MDGL) and Mirati Therapeutics (MRTX): These two small (less than ~1.10% of the portfolio each) stakes were kept steady this quarter. This website is using a security service to protect itself from online attacks. They add up to ~73% of the portfolio. This cookie is set by GDPR Cookie Consent plugin. Baker Bros Advisors was founded in 2000 and is based in New York City. to see more advanced email alert options such as selecting any type of exercise any right, power or remedy accruing to the Investor hereto upon any breach or default of the Company under this Agreement, shall impair any such right, power or remedy of the Investor nor shall it be construed to be a waiver of any such These investors may include private investors, venture capital firms, or other investment vehicles. Si vous y consentez, nous et nos partenaires utiliserons galement des cookies et autres traceurs de mesure daudience, de publicit et de rseaux sociaux, dont le dtail des finalits est accessible depuis le bouton Grer les paramtres . Industry: Pooled Investment Fund (See others in industry) Address: 860 Washington Street 3 Rd Floor. Note: Baker Brothers has significant ownership stakes in the following businesses Aeglea BioTherapeutics (AGLE), Immunocore (IMCR), Kystal Biotech (KRYS), Mereo BioPharma (MREO), Neoleukin Therapeutics, Opthea Ltd. (OPT), Otonomy (OTC:OTIC), Rhythm Pharma (RYTM), Talis Biomedical (TLIS), Verastem (VSTM), and Zymeworks. The stock currently trades at $3.46. Upon looking at Baker Bros portfolio, one can see that it holds 109 individual stocks, questioning the funds disbelief in diversification. Thank you for your interest in the U.S. Securities and Exchange Commission. I have no business relationship with any company whose stock is mentioned in this article. Notices must be given: (a)by personal delivery, with receipt acknowledged; (b)by email followed by hard copy delivered by the methods While the fund has made great gains since, the recent plunge has definitely compressed its unrealized gains, as the position was held stable once again. Linda Rosenberg Ach P '12. In this respect, the Company shall give the Observer copies of all notices, minutes, consents, and other materials that it provides to its directors at Either party may change its notice investment firm, was founded by Julian & Felix Baker in 2000. The current minimum investment for Baker Brothers Life Sciences, L.P. is $40000000. The life sciences sector is changing by the minute. Baker Brothers 13F portfolio value remained almost steady at $22.77B this quarter. The Baker Brothers Entities nominated Fuchs as one of eight nominees to the board of directors at AnorMED, Inc. and, it can be inferred, given the timing, that Fuchs was also appointed by the Baker Brothers Entities to the Mirati The company holds significant cash, which should hopefully be enough until the next drug commercialization before further diluting shareholders. The position was held stable during the quarter. Q3 2015 saw a ~30% stake increase at prices between ~$105 and ~$130. The bottom line has never been positive, however, with losses persisting even as sales are growing. For security purposes, and to ensure that the public service remains available to users, this government computer system employs programs to monitor network traffic to identify unauthorized attempts to upload or change information or to otherwise cause damage, including attempts to deny service to users. Together, they have combined their individual expertise to generate superior returns by focusing solely on the biotech industry. The cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional". See how we calculate 13F filing performance here. Its stake in Seattle Genetics is up $1 billion since news of. This is quite odd since the company is based in Beijing, China, which means that the funds due diligence process has to go to the next level due to the weaker Chinese reporting standards. For more information, contact opendata@sec.gov. The stock is now at $89.08. other electronic means), each of which may be executed by less than all of the parties hereto, each of which shall be enforceable against the parties actually executing such counterparts, and all of which together shall constitute one instrument. The Adviser has complete and unlimited discretion and authority with respect to the investment and voting power of the securities held by the Funds. It invests in the public equity markets of the United States. The parties The Baker brothers have built a truly special hedge fund. If you have an ad-blocker enabled you may be blocked from proceeding. Edit Lists Featuring This Company Section. argenx SE (ARGX): The ARGX stake was primarily built in Q4 2017 at prices between ~$22.50 and ~$63. This is crucial when investing in the biotech industry, as each company is very unique, requiring niche knowledge to understand its business model. New York, NY, 10014. Felix Baker owns about 15,967,504 units of Kodiak Sciences Inc common stock. Baker Bros. Advisors LP 860 Washington Street, 3rdFloor New York, NY 10014 (212) 339-5690 (Name, address and telephone number of person authorized to receive notices and communications) January 12, 2023 (Date of event which requires filing of this statement) If the filing person has previously filed a statement on Schedule Kath Lavidge '74, P '09 - Chair. [Remainder of page intentionally left blank]. AbCellera Biologics (ABCL): ABCL had an IPO in December 2020. That was followed with a ~45% stake increase in Q1 2017 at prices between ~$100 and ~$150. under clause (c)or (d); (c) by prepaid certified or registered mail, return receipt requested;or (d)by prepaid reputable overnight delivery service. 2023 PitchBook. The stock currently trades at ~$344 and the stake is at 1.48% of the portfolio. Mr. Goller serves as a Partner of Baker Brothers Investments, a fund management company focused on long-term investments in life-sciences companies. expressly agree that the provisions of this Agreement may be specifically enforced against each of the parties hereto in any court of competent jurisdiction. (d)Successors and Assigns. The current minimum investment for Baker Brothers Life Sciences, L.P. is $40000000. (n)Termination. Julian Baker joined the board in January 2021. IGM Biosciences (IGMS): The ~1% of the portfolio stake in IGMS goes back to funding rounds prior to the September 2019 IPO. for so long as they remain in force, the Voting Agreement (as defined in the Purchase Agreement) and that certain letter agreement, dated as of January15, 2021, by and among the Company and the Investor, constitutes the full and entire Baker Brothers Life Sciences is a 2006 vintage buyout fund managed by Baker Brothers Investments. Ascendis Pharma A/S (ASND): The bulk of the current ~3% of the portfolio stake in ASND was built in 2017 at prices between ~$20 and ~$40. Win whats next. Shares started trading at ~$20 and currently goes for $14.36. Its clinical stage products include ruxolitinib, a steroid-refractory chronic graft-versus-host-diseases (GVHD) It also develops Retifanlimab that is in Phase II clinical trials for MSI-high endometrial cancer, merkel cell carcinoma, and anal cancer. (m)Enforcement. Farah Champsi MBA '85. Shares started trading at ~$49 and currently goes for $13.27. Phone: 212-339-5600. or to simply have an email sent to you whenever we receive a new Additionally, the rights set forth in this Section2(c) may You can adjust your settings for these cookies and other trackers via this cookie banner. (b)Notwithstanding the provisions of Section2(a), the Investor shall not be entitled to designate any Keep reading this article to learn more about Baker Brothers Advisors. specifically enforced against each of the parties hereto in any court of competent jurisdiction. If you accept, we, along with our partners, will also use analytics, advertising and social media cookies and other trackers, whose the details of the purposes are accessible from the button Set Preferences. Last major activity was in 2019 when Q2 to Q4 saw a roughly one-third selling at prices between ~$1.60 and ~$8.70. (whether by merger, consolidation, sale of assets or otherwise) that may be issued in respect of, in exchange for, or in substitution for the shares of Common Stock, by combination, recapitalization, reclassification, merger, consolidation or Focused on long-term Investments in life-sciences companies exposure to the healthcare sector & # x27 12... 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