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    Cormorant Asset Management logo

    Cormorant Asset Management

    Boston, Massachusetts, United StatesFounded 2013
    cormorant-asset.comLinkedIn
    Biotech & Life SciencesHealthcare

    Cormorant Asset Management is a life sciences and healthcare focused investment firm founded by Bihua Chen in 2013. The firm employs a long-term, fundamental, research-intensive approach to invest in biotechnology companies across both public and private markets.

    51% of their portfolio is in Biotech & Life Sciences. Deal activity decreased year-over-year (11 deals in the last 12 months vs 16 prior). Average disclosed round size is $94.6M (across 225 rounds with reported amounts).

    Find people at Cormorant Asset Management on Goldilocks AI

    Portfolio

    171

    Fund Size

    —

    Top Stage

    Series B

    Last 12 Mo

    11

    Team

    Raymond Kelleher

    Raymond Kelleher

    Managing Director

    John Coners

    John Coners

    Director of Investment Analytics

    Sarah Roxe

    Sarah Roxe

    Director of Investor Relations

    Dana Varinos

    Dana Varinos

    Data Operations Associate

    Bihua Chen

    Bihua Chen

    Chief Executive Officer / Chief Investment Officer

    Caleb Tripp

    Caleb Tripp

    Chief Financial Officer / Chief Operating Officer

    Garrett McGlory

    Garrett McGlory

    Finance Manager

    Jay Riccio

    Jay Riccio

    Head Trader

    Keaton McKernan

    Keaton McKernan

    Controller

    Neb Obradovic

    Neb Obradovic

    General Counsel / Chief Compliance Officer

    Teddy Wan

    Teddy Wan

    Deputy General Counsel

    RJ

    Raymond J. Kelleher, MD, PhD

    Managing Director

    Portfolio Breakdown

    Stage Distribution

    Sector Distribution

    Investment Activity

    DealsAvg Round Size

    Portfolio

    251 investments
    CompanyRoundAmountDate
    PParabilisSeries F$305MSep 2026
    Epicrispr Biotechnologies logoEpicrispr BiotechnologiesSeries C$90MAug 2026
    Crystalys Therapeutics Inc logoCrystalys Therapeutics IncSeries B$130MJul 2026
    Fore Biotherapeutics logoFore BiotherapeuticsUnknown$67.4MJul 2026
    Neoleukin Therapeutics logoNeoleukin TherapeuticsUnknown$125MJul 2026
    Terremoto Biosciences logoTerremoto BiosciencesSeries C$108MApr 2026
    Third Arc Bio logoThird Arc BioSeries A$52MFeb 2026
    Parabilis Medicines logoParabilis MedicinesSeries F$305MJan 2026
    Artiva Biotherapeutics logoArtiva BiotherapeuticsSeries B$120MJan 2026
    Climb Bio logoClimb BioUnknown$110MJan 2026
    PParabilisSeries F$305MJan 2026
    BlossomHill Therapeutics logoBlossomHill TherapeuticsSeries B$84MDec 2025
    Aspen Neuroscience logoAspen NeuroscienceSeries C$115MNov 2025
    Aspen Neuroscience logoAspen NeuroscienceSeries C$115MNov 2025
    Electra logoElectraSeries C$183MOct 2025
    EElectra TherapeuticsSeries C$183MOct 2025
    BBridgeBio Oncology TherapeuticsUnknown$261MAug 2025
    Fore Biotherapeutics logoFore BiotherapeuticsSeries D$38MMay 2025
    FFore BioSeries D$38MMay 2025
    Attovia Therapeutics logoAttovia TherapeuticsSeries C$90MApr 2025
    Neurona Therapeutics logoNeurona TherapeuticsUnknown$102MApr 2025
    Latigo Biotherapeutics logoLatigo BiotherapeuticsSeries B$150MMar 2025
    GGaruda TherapeuticsSeries A$50MMar 2025
    Umoja logoUmojaSeries C$100MJan 2025
    Numab logoNumabSeries C$55MJan 2025
    Page 1 of 11

    Top Co-Investors

    OrbiMed47 shared
    RA Capital Management44 shared
    Surveyor Capital38 shared
    Logos Capital35 shared
    Wellington Management34 shared
    Alexandria Venture Investments34 shared
    HBM Healthcare Investments33 shared
    Redmile Group28 shared
    Perceptive Advisors27 shared
    Casdin Capital22 shared
    venBio22 shared
    Viking Global Investors21 shared
    Atlas Venture20 shared
    Samsara BioCapital20 shared
    Vivo Capital20 shared
    Omega Funds19 shared
    Foresite Capital19 shared
    Rock Springs Capital19 shared
    T. Rowe Price18 shared
    Sofinnova Partners17 shared

    Last updated: 7 October 2026