Ascenta Capital, a venture firm founded in 2023 by Evan Rachlin, MD, and Lorence Kim, MD, has closed its inaugural $325 million fund to invest in development-stage biotechnology companies13.
The firm focuses on multi-medicine biotech companies in early human clinical trials (Phase 1 and Phase 2), supporting platforms that diversify risk across pipelines13.
Ascenta deploys a highly selective investment strategy, concentrating on a small number of exceptional biotechs with collaborative partnerships on clinical, regulatory, manufacturing, scientific, and capital strategy123.
Ascenta has already invested over $100 million from the fund in six portfolio companies, which collectively participate in 14 clinical trials across more than 40 pipeline programs17.
Current portfolio companies include ADARx Pharmaceuticals (RNA therapies), Iambic Therapeutics (oncology), Odyssey Therapeutics (autoimmune/inflammatory), Cardurion Pharma (cardiovascular), OrsoBio (obesity/metabolic diseases), and Alpha9 Oncology (radiopharmaceuticals)135.
Ascenta's investment strategy is therapeutic area agnostic, seeking innovation across diverse biomedicine fields135.
The team consists of 14 professionals, with deep expertise across clinical, scientific, and financial disciplines, having contributed to the approval of over 30 medicines during their careers13.
Fund investors span family offices, endowments, foundations, and high net-worth individuals1.
Sources:
1. https://www.businesswire.com/news/home/20251009768164/en/Ascenta-Capital-Announces-Final-Close-of-$325-Million-Inaugural-Fund-to-Back-Development-Stage-Biotechs
2. https://markets.financialcontent.com/wral/article/bizwire-2025-10-9-ascenta-capital-announces-final-close-of-325-million-inaugural-fund-to-back-development-stage-biotechs
3. https://www.fiercebiotech.com/biotech/2-ex-moderna-leaders-unveil-325m-inaugural-vc-fund-platform-biotechs
5. https://firstwordpharma.com/story/6317079
7. https://refreshmiami.com/news/ascenta-capital-closes-325m-inaugural-fund-to-back-biotechs/