J.P. Morgan launched its new life sciences private equity team — Life Sciences Private Capital — with an aim of investing in both early and growth stage healthcare companies across multiple strategies aligned to specific market opportunities.
The target areas within novel therapeutics and technologies include: genetic medicine, oncology, neurodegenerative disease, rare diseases, autoimmunity, AI/ML platforms, metabolic diseases and neuropsychology.
Stephen Squinto, Dr. Gaurav Gupta and Anya Schiess are joining J.P. Morgan as managing directors and will leverage JPMorgan Chase’s scale, resources, data assets and healthcare expertise and sits within J.P. Morgan Private Capital. J.P. Morgan Global Alternatives is the alternative investment arm of J.P. Morgan Asset Management and totals $168 billion across private equity, credit, hedge funds, infrastructure, transportation and liquid alternatives.
The new platform is set to finance the continued growth of private companies and taps into significant pre-IPO value creation opportunities in the consumer and technology, climate technology and life sciences sectors.
“Our new Life Sciences Private Capital team combines some of the industry’s most revered biotech investors, operators and founders with J.P. Morgan’s extensive healthcare ecosystem to capture compelling investment opportunities in the biotech sector, which is on the cusp of a golden age of therapeutic innovation,” said Brian Carlin, CEO of J.P. Morgan Private Capital. “Through Steve, Gaurav and Anya’s deep company-building experience, the team will bring a unique ability to partner with portfolio companies and add significant operational value beyond financial investment.”
Squinto had been an executive partner at OrbiMed and brings over three decades of biotechnology industry experience to the platform. He was also a co-founder of Alexion Pharmaceuticals and held various roles at Regeneron Pharmaceuticals.
Gupta previously was the founder of Ascendant BioCapital, a life science investment firm in New York. But prior to that was an investment professional at OrbiMed Advisors and served as a resident in neurological surgery at Columbia University Medical Center.
Schiess, meanwhile, joins from Healthy Ventures, an early-stage venture capital firm where she was a co-founder and general partner. Prior to that, she was a venture capitalist focused on biopharmaceutics, medical devices and genomic technology at Thomas, McNerney & Partners.
“As advances in genomics, biomarkers and data science converge, we are seeing firsthand the transformative impact that biomedical innovation can offer to patients at all stages of life and we expect much more to come in the next decade,” said Squinto in a statement. “J.P. Morgan’s existing presence in the healthcare sector will give us a significant sourcing advantage as we seek to identify innovative and transformative therapeutics companies.”
J.P. Morgan has also formed a group of strategic advisors comprised of some of the life sciences industry’s foremost experts that will help guide the investment strategy, help to source investment opportunities and provide operational expertise to J.P. Morgan’s portfolio companies. Strategic advisors include: Dr. Laurie Glimcher – President and CEO, Dana Farber Cancer Institute; Dr. Jeffrey Leiden – executive chairman of Vertex Pharmaceuticals; Dr. Frederic Moll – chief development officer of J&J Medical Devices Companies; Dr. Stephen Oesterle – former Medtronic SVP of Medicine and Technology; and Robert Stockman – Former chairman of REVA Medical.