Venture Capital
Bay City Capital
Bay City Capital backs early-stage and high-growth companies, typically pre-profit. It states a focus on healthcare & life sciences.
SEC filings
What Bay City Capital has raised
From this firm's own Form D filings. A fund files one within fifteen days of its first sale, under penalty of perjury, which makes these the hardest numbers on the page.
| Vehicles filed | 1 |
| Total capital raised | Not disclosed in filings |
| Largest single vehicle | Not disclosed in filings |
| Filing history | 2016 |
| Smallest accepted commitment | None stated |
| Filed from | CAYMAN ISLANDS |
Form D covers US-domiciled vehicles raised from accredited investors. It will not capture a fund raised outside the United States, separately managed accounts, or capital deployed off balance sheet, so treat these as a floor rather than a total.
Regulatory record
How Bay City Capital is registered
From this firm's Form ADV, the annual filing every registered and exempt investment adviser makes to the SEC.
| Adviser status | Exempt reporting adviser |
| Regulatory assets under management | Not reported by an ERA |
| Private funds advised | 2 · $5m gross |
| SEC adviser number | CRD 160525 |
An exempt reporting adviser is not required to report regulatory assets under management, so the blank above means the question was not asked rather than that the answer is unknown. Where a figure exists it is the gross asset value of the private funds the firm advises, which is a different and usually larger measure.
Portfolio
Disclosed holdings
Companies Bay City Capital lists on its own website. 45 carry a stated investment year.
| Company | Invested | Years held | Recorded transaction |
|---|---|---|---|
| Chemdex | 1999 | 27 | — |
| Symyx Technologies | 1999 | 27 | — |
| Lexicon | 2000 | 26 | — |
| Omegatech | 2002 | 24 | — |
| Eos Biotechnology | 2003 | 23 | — |
| Maxia Pharma | 2003 | 23 | — |
| Oculex Pharmaceuticals | 2003 | 23 | — |
| Pharmion | 2003 | 23 | — |
| Epoch Biosciences | 2004 | 22 | — |
| Sembiosys Genetics | 2004 | 22 | — |
| Senomyx | 2004 | 22 | — |
| Vnus Medical Tech | 2004 | 22 | — |
| Amerifit Nutrition | 2005 | 21 | — |
| Bioren | 2005 | 21 | — |
| Syrrx | 2005 | 21 | — |
| Aqua Bounty Tech | 2006 | 20 | — |
| Itamar Medical | 2007 | 19 | — |
| Reliant Pharmaceuticals | 2007 | 19 | — |
| Syntonix Pharma | 2007 | 19 | — |
| Panomics | 2008 | 18 | — |
| Pathway Dx | 2008 | 18 | — |
| Protez Pharma | 2008 | 18 | — |
| Ion Torrent Systems | 2010 | 16 | — |
| Aragon Surgical | 2011 | 15 | — |
| Calypso Medical | 2011 | 15 | — |
| Epocrates | 2011 | 15 | — |
| Bioseek | 2012 | 14 | — |
| Genturadx | 2012 | 14 | — |
| Nextwave Pharmaceuticals | 2012 | 14 | — |
| Conatus Pharma | 2013 | 13 | — |
| Epizyme | 2013 | 13 | — |
| Idev Technologies | 2013 | 13 | — |
| Ingenuity Systems | 2013 | 13 | — |
| Map Pharmaceuticals | 2013 | 13 | — |
| Ptc Therapeutics | 2013 | 13 | — |
| Radiant Medical | 2013 | 13 | — |
| Aciex | 2014 | 12 | — |
| Cadence Pharmaceuticals | 2014 | 12 | — |
| Civitas Therapeutics | 2014 | 12 | — |
| Cymabay Therapeutics | 2014 | 12 | — |
| Dermira | 2014 | 12 | — |
| Nevro | 2014 | 12 | — |
| Nupathe Pharma | 2014 | 12 | — |
| Hyperion Therapeutics | 2015 | 11 | — |
| Tetraphase Pharmaceuticals | 2015 | 11 | — |
| Accriva Diagnostics | — | — | — |
| Antriabio | — | — | — |
| Ascendancy Healthcare | — | — | — |
| Blade Therapeutics | — | — | — |
| Cydan | — | — | — |
| Enteromedics | — | — | — |
| Gossamer Bio | — | — | — |
| Gritstone Oncology | — | — | — |
| Imara | — | — | — |
| Intarcia Therapeutics | — | — | — |
| Interleukin Genetics | — | — | — |
| Iterum Therapeutics | — | — | — |
| Kbp Biosciences | — | — | — |
| Kezar Life Sciences | — | — | — |
| Ljl Biosystems | — | — | — |
| Madrigal Pharma | — | — | — |
| Medarex | — | — | — |
| Menlo Therapeutics | — | — | — |
| Merus Biopharma | — | — | — |
| Neorx | — | — | — |
| Nextcure | — | — | — |
| Oculis | — | — | — |
| Omicia | — | — | — |
| Pharmakea | — | — | — |
| Pharmanex | — | — | — |
| Presidio Pharma | — | — | — |
| Synchronicity Pharma | — | — | — |
| Syngen | — | — | — |
| Tria Beauty | — | — | — |
| Twist Bioscience | — | — | — |
| Viracta | — | — | — |
| Vivaldi Biosciences | — | — | — |
| Vtesse Inc | — | — | — |
| Xeris Pharmaceuticals | — | — | — |
| Xilio Therapeutics | — | — | — |
Compiled from Bay City Capital’s published portfolio page. Where a recorded transaction is shown, that company was the target of a reported deal and has most likely already been realised. Nothing here is represented as being for sale.
Recorded transactions
Buying and selling
Deals in which Bay City Capital is named as buyer or seller in the transaction archive. 4 recorded exits, most recently in 2022.
| Company | Side | Counterparty | Year | Consideration |
|---|---|---|---|---|
| Epizyme | Sold | Ipsen | 2022 | $247m |
| Vtesse | Sold | Sucampo Pharmaceuticals | 2017 | $200m |
| Aciex Therapeutics | Sold | Nicox | 2014 | $120m |
| Civitas Therapeutics | Sold | Acorda Therapeutics | 2014 | $525m |
Compiled from a transaction archive of 10,204 recorded deals. Most private transactions are never disclosed, so this is a sample of a firm’s activity rather than a complete record of it.
Valuation context
Transaction values in Healthcare & Life Sciences
What companies have actually sold for in healthcare & life sciences, across 1,263 recorded transactions.
The full healthcare & life sciences picture - most active acquirers, recent transactions and every investor in the sector.
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Comparable investors
Similar mandates
Other venture capital investors active in healthcare & life sciences.