DURHAM-A.M. Pappas Life Science Ventures has raised a new $85.7 million investment fund, according to a regulatory filing.
Arthur M. Pappas, better known as “Art,” has focused on life science investing as managing partner at Pappas Capital for 25 years.
The products Pappas-backed companies have brought to market – for treating such conditions as melanoma, ovarian cancer, and hemophilia, have been used throughout the world to treat tens of thousands of patients and account for billions of dollars of revenue.
Pappas received the CED Life Science Leadership Award in 2017 and was recognized by the Triangle Business Journal last year. CoLucid, a company his firm backed and he led as founding CEO closed its $960 million acquisition by Eli Lilly and Co. the same day he accepted the CED award.
He founded Pappas Capital in 1994, and over the past 20 years the firm has managed $450 million in capital and invested in more than 75 life science companies. It is now one of the largest life science investors in the Southeast.
Pappas Capital participated in half a dozen life science investments in the last three months of 2018, including Ribometrix, Micum Pharmaceuticals, Milestone Pharmaceuticals, Curasen Therapeutics, VeloBio, and 4D Molecular Therapeutics.
According to the filing with the U.S. Securities and Exchange Commission, 29 investors contributed to the new fund, which made its first sale in February 2017.