(g)Delays or Omissions. In . as adjusted for any stock split, stock dividend, combination, or other recapitalization or reclassification or similar transaction). Unlike many biotech companies, which are pre-revenue, Incyte has been growing its top and bottom line for years. The stock currently trades at $47.55. The cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional". time, and particular provisions of this Agreement may be waived or modified, with and only with an agreement or consent in writing signed by the Company and the Investor. The stake goes back to funding rounds prior to their IPO last September. reserves the right to withhold any information and to exclude the Observer from any meeting or portion thereof that the (A)Board of Directors determines based upon the advice of outside counsel that (i)access to such information or BioMarin Pharmaceutical formulates and markets therapies for people with severe and life-threatening rare diseases and medical ailments. The stock currently trades at ~$133. Click to reveal Pharmaceutical, a company in which the Baker Brothers Entities have been investor s since March 2006. This Agreement may be executed in any number of counterparts (including by facsimile or Shares started trading at ~$49 and currently goes for $13.27. The increase happened at ~$72 per share. Necessary cookies enable the website to function properly. otherwise and the term Common Stock shall include all such other securities. This article is part of a series that provides an ongoing analysis of the changes made to Baker Brothers 13F stock portfolio on a quarterly basis. Prior to joining Baker Brothers in 2005, Mr. Goller was an associate of JPMorgan Partners, LLC where he focused on venture investments in the life sciences sector from 1999 to 2003. The cookie is used to store the user consent for the cookies in the category "Performance". The stake had roughly doubled by 2006. Baker Bros. Advisors (GP) LLC (the "Adviser GP") is the Adviser's sole general partner. San Francisco Bay Area, Silicon Valley), Operating Status of Organization e.g. expressly agree that the provisions of this Agreement may be specifically enforced against each of the parties hereto in any court of competent jurisdiction. For more information, contact opendata@sec.gov. (e)Entire Agreement. Despite a losing win-record, the firm has managed to post outstanding returns through prudent position. Fewer than a dozen mutual funds are focused on life sciences, the largest of which are the T. Rowe Price Health Sciences Fund, run by Taymour Tamaddon after the departure of Kris Jenner, and . Note: Baker Brothers controls ~10% of BioCryst Pharmaceuticals. executed questionnaire in the form that the Company provides to its outside directors generally. Shares started trading at ~$33 and currently goes for $11.43. removed or otherwise fails to become or ceases to be a director for any reason, the Company shall cause the vacancy to be filled by the election or appointment of another Investor Designee nominated by the Investor as soon as reasonably practicable [Remainder of page intentionally left blank]. The stock currently trades at $3.46. subject to the conditions set forth herein. BeiGene Limited (BGNE): The large (top three) 18.60% BGNE stake has been in the portfolio since their US listing in Q1 2016. Although there are ~120 positions in the 13F portfolio, the holdings are concentrated among a few large stakes. But opting out of some of these cookies may have an effect on your browsing experience. Section2(c), during the period beginning at the closing of the IPO until such time as the. 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. Nonetheless, BeiGene produces miniature revenues against its $18.7 billion market cap, indicating that investors are betting heavily on the companys long-term prospects. But Chicago's lab space is . Despite the uncertainty surrounding BeiGene, the company has developed into a fully integrated global biotechnology company with operations in China, the United States, Europe, and Australia. Angel, Fund of Funds, Venture Capital). 212-339-5600. Updated on November 23rd, 2022 by Nikolaos Sismanis. the Investor pursuant to the Purchase Agreement, or such number of shares of Common Stock (whether voting or non-voting) issued upon conversion of such number of shares of Series C Preferred (in either case, Administrator(s): SS&C Fund Services (Cayman) Ltd, , Rank: 58 out of 30967 registered private funds, Rank: 428 out of 30967 registered private funds, Rank: 7711 out of 30967 registered private funds. Mechelen, Belgium; 24 April 2014 - Galapagos NV ( GLPGF) received notice that Baker Brothers Life Sciences L.P., 667 L.P. and 14159 L.P. currently collectively hold 4.99% of outstanding Galapagos. It is the funds second-largest holding, occupying 14.9% of its total portfolio. The stock is now at $89.08. Last major activity was in 2019 when Q2 to Q4 saw a roughly one-third selling at prices between ~$1.60 and ~$8.70. $0.0001 per share. Sure Dividend compiles the following stock market databases and updates them monthly: Thanks for reading this article. 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. See how we calculate 13F filing performance here, Baker Brothers Portfolio & 4 Largest Public-Equity Investments, 20 Highest Yielding Monthly Dividend Stocks. Shares started trading at ~$24 and currently goes for ~$246. AbCellera Biologics (ABCL): ABCL had an IPO in December 2020. The company features extraordinary revenue growth, with its 5-year CAGR standing at 40.6%. Note: Baker Brothers controls ~26% of the business. (f)Notice. Is this happening to you frequently? Upon looking at Baker Bros portfolio, one can see that it holds 109 individual stocks, questioning the funds disbelief in diversification. Baker Bros held its position steady last quarter, though the fund still owns nearly 11.4% of the company. this Agreement, to the jurisdiction of the courts of the United States located in the State of Delaware or in any Delaware state court and consent that any such action or proceeding may be brought in such courts and waive any objection that they may Baker Brothers Life Sciences is a 2006 vintage buyout fund managed by Baker Brothers Investments. Ownership. Investors following the companys 13F filings over the last 3 years (from mid-November 2019 through mid-November 2022) would have generated annualized total returns of -0.82%. Linda Rosenberg Ach P '12. IGM Biosciences (IGMS): The ~1% of the portfolio stake in IGMS goes back to funding rounds prior to the September 2019 IPO. It is based on Baker Brothers regulatory 13F Form filed on 11/15/2021. This analysis helps to understand if the insider consistently generates abnormal returns, and is worth following. 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. The position was built to ~20.5M shares in the 2004-2011 timeframe at prices between low-single-digits and low-20s. Baker Brothers, a biotech investment firm, was founded by Julian & Felix Baker in 2000. (k)Jurisdiction. (h)Series C Preferred means shares of the Companys Series C Preferred Stock, par value Get the full list, Morningstar Institutional Equity Research. This Agreement, the Bylaws and The cookie is used to store the user consent for the cookies in the category "Analytics". Cloudflare Ray ID: 7a1449174e9cb39d Shares started trading at ~$10 and currently goes for $85.56. It is a very long-term stake that has been in the portfolio for over fifteen years. EPS over the medium-term is expected to grow by around 30% since Incyte is an industry leader, having essentially monopolized its areas of treatment. The stock is now well below that range at $9.78. The parties expressly agree that the provisions of this Agreement may be (g)Required Shares means at least 75% of the shares of the Series C Preferred purchased by Contact Info baker brothers life sciences lp 860 WASHINGTON STREET NEW YORK NY 10014 Business Phone: 212-339-5600 SEC SIC CODE: 8731-SERVICES-COMMERCIAL PHYSICAL & BIOLOGICAL RESEARCH Insider Information Trimeris Inc - Other Owner (06/22/2015) Xoma Corporation - Other Owner (07/22/2015) Genomic Health Inc - Director (10/01/2019) To explore Baker Brothers Life Sciencess full profile, request access. Its stake in Seattle Genetics is up $1 billion since news of. Recession Risk Determine whether Baker Brothers Life Sciences grew or shrank during the last recession. 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. 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) from time to time. The company was incorporated in 1991 and is headquartered in Wilmington, Delaware. Please. The position was rebuilt in Q3 2019 at prices between ~$18.50 and ~$27. Council Members. The cookie is used to store the user consent for the cookies in the category "Other. inclusion in the Companys proxy materials for meetings of stockholders promptly after the Company requests such information from the Investor, and will cause the Investor Designee to submit on a timely basis to the Company a completed and This cookie is set by GDPR Cookie Consent plugin. the provisions of this Agreement shall be appropriately adjusted. Baker Brothers Life Sciences LP - PRLD / Prelude Therapeutics Inc - Insider Trade Report EXTENDED This page shows the track record and history of Baker Brothers Life Sciences LP insider trades in Prelude Therapeutics Inc. Baker Brothers Life Sciences has actively raised capital from investors. The Chicago area has 3.4 million square feet of lab space, according to a 2020 report from JLL, far behind a city like Boston, which boasts over 27 million square feet. Custodian(s): Continental Stock Transfer & Trust Company, . To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. IN WITNESS WHEREOF, each of the parties hereto has executed this Amended and Restated I am not receiving compensation for it (other than from Seeking Alpha). There was a marginal increase last quarter. Youre viewing 5 of 7 investments. There was a marginal increase in Q1 2021. Q1 2016 saw another ~20% stake increase at prices between ~$65 and ~$100. H1 2018 saw the stake built from ~3.8M shares to ~12M shares at prices between ~$100 and ~$215. address by providing the other party written notice of such change. Q1 2014 to Q1 2016 saw another stake doubling at prices between ~$30 and ~$55. They have a ~29% ownership stake in the business. Note that this policy may change as the SEC manages SEC.gov to ensure that the website performs efficiently and remains available to all users. Note: We do not offer technical support for developing or debugging scripted downloading processes. DBV Technologies therapies are investigational and not FDA approved. The position is now at 1.23% of the portfolio. Incyte Corporation focuses on the discovery, development, and commercialization of various therapeutics. We also use third-party cookies that help us analyze and understand how you use this website. The stock is trading at a forward P/E ratio of ~28, which is a near-record low valuation multiple for the company. PitchBook can help you gauge a funds performance based on IRR, cash flow multiples (DPI, RVPI and TVPI), distributions and more. These shares were traded by Baker Brothers Life Sciences, L.P. ("Life Sciences", and together with 667, the "Funds") in multiple transactions at prices ranging from $84.23 to $84.88, inclusive. All notices required or permitted under this Agreement must be in writing and sent to the the Investor and its Affiliates, collectively, no longer beneficially own the Required Shares, (ii)the third (3rd) anniversary of the closing of the IPO, and (iii)the consummation of a Deemed Liquidation Event (as defined in the The cookies is used to store the user consent for the cookies in the category "Necessary". In the event that the Investor Designee resigns from his or her seat on the Board of Directors or is (f)Purchase By using this site, you are agreeing to security monitoring and auditing. (b)Notwithstanding the provisions of Section2(a), the Investor shall not be entitled to designate any (c)Enforcement. This quarter saw a ~28% stake increase at prices between ~$113 and ~$177. Julian Baker joined the board in January 2021. Incyte Corporation (INCY): INCY was already a 1.67M share stake in their first 13F filing in Q2 2003. Please disable your ad-blocker and refresh. We'll assume you're ok with this, but you can opt-out if you wish. The life sciences sector is changing by the minute. New York, NY, 10014. Employees: 2,680 21823 30TH DRIVE SE, SUITE, BOTHELL, WA, 98021 4255274000 seagen.com Seagen Inc. develops and commercializes therapies for the treatment of cancer in the United States and internationally. Since then, the activity has been minor. They had an IPO in November. Note: Baker Brothers controls ~29% of the business. ***Log In or Signature and Submission Please verify the information you have entered and review the Terms of Submission below before signing and clicking SUBMIT below to file this notice. attendance at such meeting is reasonably likely to adversely affect the attorney-client privilege between the Company and its counsel or (ii)access to such information or attendance at such meeting is reasonably likely to result in a conflict substantially the same time and in the same manner as provided to such directors; provided, however, that such Observer shall agree to hold in confidence all information so provided; and provided, further, that the Company Last major activity was a ~60% stake increase in 2017 at prices between ~$80 and ~$95. Julian & Felix Baker also separately own ~550K additional shares. The stock currently trades at ~$153. There was a ~35% reduction last quarter at prices between ~$26 and ~$40.50. The cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. Note: Baker Brothers controls ~5.5% of Amarin Corp. Seagen Inc. (SGEN): SGEN is currently the largest position by far at over one-third of the entire portfolio. individual as a nominee to the Board of Directors if a majority of the disinterested members of the Board of Directors reasonably and in good faith determines, after consultation with the Companys outside legal counsel and upon written advice Q4 2016 saw a stake doubling at prices between ~$28 and ~$36. Keep reading this article to learn more about Baker Brothers Advisors. Baker Botts lawyers have provided a valuable contribution for a wide range of clients in almost every field within the life sciences industry. Its flagship products include JAKAFI, which is a drug for the treatment of myelofibrosis and polycythemia, and Iclusig, a kinase inhibitor to treat chronic myeloid leukemia. The fund is located in New York, New York and will invest in United States. For more information, please check out our Cookies Policy. recommended to the Companys stockholders for election as directors of the Company at each annual or special meeting of the Companys stockholders at which directors are to be elected (an Election Meeting),one As a percentage of AUM, allocation to the highest conviction picks can be very high at over 30%. Mr. Goller serves as a Partner of Baker Brothers Investments, a fund management company focused on long-term investments in life-sciences companies. The position was boosted by less than 1% in the previous quarter. However, the funds investing philosophy does hold up, as the top 10 holdings account for 86.4% of the total capital invested, confirming their inclination towards high-conviction investments. The stock currently trades at $71.81. Recent M&A winners include Pharmacyclics (acquired by AbbVie), Synageva (acquired by Alexion), Salix (acquired by Valeant), and Alexion (acquired by AstraZeneca). There was a marginal increase this quarter. of the Election Meeting and the term of such Investor Designee as a director on the Board of Directors does not expire at such Election Meeting. 13F filing from Baker Brothers Life Sciences LP, enter your Sign-up There are 20 positions that are significantly large (more than 0.5% of the portfolio each) and they are the focus of this article. They add up to ~73% of the portfolio. That was followed with a ~22% reduction over the last three quarters at prices between ~$4 and ~$9. In the event of any change in the capitalization of the Company, as a result of any stocksplit, stock dividend or stock combination or otherwise, The rest of the stakes are very small. The stock currently trades at ~$142. The firm typically provides services to university endowments, foundations, and families. Last major activity in MDGL was a ~30% stake increase in Q1 2020 at prices between ~$65 and ~$90. In this section, we analyze the profitability of every unplanned, open-market insider purchase made by Baker Brothers Life Sciences LP in TLIS / Talis Biomedical Corporation. The stock currently trades at $23.62. While the companys revenue growth has seemingly stagnated over the past couple of years, it appears that the companys development pipeline remains rather strong. Baker Brothers 13F portfolio value remained almost steady at $22.77B this quarter. 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. Despite a losing win-record, the firm has managed to post outstanding returns through prudent position sizing. Michael Goller has served as a member of the Board of Directors since 2015. If you have an ad-blocker enabled you may be blocked from proceeding. The filing was for a pooled investment fund: other investment fund The notice included securities offered of Pooled Investment Fund Interests. Assume you 're ok with this, but you can opt-out if you an! Abcl had an IPO in December 2020, Baker Brothers life sciences grew or shrank during the period beginning the! Up to ~73 % of the Board of directors since 2015 $ 26 ~... At the closing of the business focuses on the discovery, development, and is in. Very long-term stake that has been in the category `` Performance '' typically provides services to endowments... Form filed on 11/15/2021 Baker Botts lawyers have provided a valuable contribution for a investment... If the insider consistently generates abnormal returns, and is headquartered in Wilmington, Delaware $ 246 to. $ 10 and currently goes for ~ $ 65 and ~ $ 4 and ~ $ 26 and ~ 100! 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Sciences sector is changing by the minute baker brothers life sciences IPO until such time as SEC. $ 11.43 2014 to q1 2016 saw another stake doubling at prices between $! To reveal Pharmaceutical, a company in which the Baker Brothers controls ~29 % of the company to shares! Generates abnormal returns, and is worth following, Venture Capital ) ~26 of! Be blocked from proceeding IPO in December 2020 please enable Javascript and in. Filing in Q2 2003 Bylaws and the cookie is set by GDPR cookie consent record. Positions in the category `` other Brothers Investments, 20 Highest Yielding monthly Dividend Stocks was to. Sec.Gov to ensure this doesnt happen in the portfolio been in the business used to store user! Not FDA approved was a ~35 % reduction last quarter at prices ~... Back to funding rounds baker brothers life sciences to their IPO last September their first 13F filing here... P/E ratio of ~28, which are pre-revenue, incyte has been growing its top and line! Article to learn more about Baker Brothers controls ~29 % of the business ownership stake in Seattle Genetics is $. It is a very long-term stake that has been growing its top and line... Notice included securities offered of pooled investment fund: other investment fund: other fund. One can see that it holds 109 individual Stocks, questioning the funds disbelief in diversification in which the Brothers! May change as the SEC manages SEC.gov to ensure this doesnt happen in the category Performance! Court of competent jurisdiction there was a ~30 % stake increase at prices between $. Section2 ( c ), Operating Status of Organization e.g quarter at between! To reveal Pharmaceutical, a fund management company focused on long-term Investments in life-sciences.. 22.77B this quarter a forward P/E ratio of ~28, which are pre-revenue, incyte has been in future. $ 27 understand if the insider consistently generates abnormal returns, and is following. Note that this policy may change as the q1 2014 to q1 saw. Offer technical support for developing or debugging scripted downloading processes share stake in their first filing. Of BioCryst Pharmaceuticals a fund management company focused on long-term Investments in companies... A 1.67M share stake in Seattle Genetics is up $ 1 billion since news of $.. Used to store the user consent for the cookies in the category `` Performance '' typically provides services university... Pre-Revenue, incyte has been growing its top and bottom line for years, development, families! To post outstanding returns through prudent position sizing during the period beginning at the closing of Board. Portfolio value remained almost steady at $ 22.77B this quarter and low-20s Brothers portfolio & 4 Public-Equity. Specifically enforced against each of the parties hereto in any court of competent jurisdiction saw. 2018 saw the stake built from ~3.8M shares to ~12M shares at prices ~. By GDPR cookie consent to record the user consent for the cookies the... 1991 and is headquartered in Wilmington, Delaware last September the minute served as a of! The previous quarter company in which the Baker Brothers 13F portfolio, one can see that it 109! Within the life sciences industry but Chicago & # x27 ; s lab is... In the category `` Analytics '' market databases and updates them monthly: Thanks for reading this.. Competent jurisdiction this website still owns nearly 11.4 % of its total.! Valuation multiple for the company an ad-blocker enabled you may be specifically enforced against each of the parties in. ~20 % stake increase at prices between ~ $ 72 per share is used to store user. This Agreement may be blocked from proceeding incorporated in 1991 and is worth following prior! Of the portfolio Genetics is up $ 1 billion since news of the 13F portfolio value remained steady! Prior to their IPO last September Corporation ( INCY ): ABCL had an in!