Healthcare Investors Dedicated to Partnering with Exceptional Companies
Our mission is to unite our industry expertise and capital with entrepreneurs and management teams to deliver successful results and improve the lives of patients.
A Multi-Stage Investment Approach Driven by Scientific and Operating Experience
We invest in private and public companies developing and commercializing innovative products and services for patients, practitioners, and other stakeholders across the healthcare continuum.
Avego Healthcare Capital focuses on private equity with a focus on new company formation and growth capital for existing businesses.
Avego BioScience Capital focuses on mid-to-late stage venture and crossover financings for life sciences companies.
Velan Capital is actively investing in publicly traded development-stage and commercial-stage companies in the healthcare sector, focused on undervalued assets and high-quality management teams.
What Makes Avego Different
We are former healthcare entrepreneurs, operators, and finance professionals who seek to cultivate success wherever we invest. Our team’s collective experience informs our investment philosophy, which is defined by our Values.
- Operate with Integrity Often the right choices are the most difficult. We prioritize trust, transparency, and putting patients first.
- Align on Success We are investing our own capital. As a result, we are highly aligned with the company executives and other investors who partner with us.
- Persevere to Overcome Growing a business requires taking risks and making hard choices. We stand with and behind the management teams we back through thick times and thin.
- Lead with Science We take an evidence-based approach to evaluating the scientific and medical qualities of products and services.
- Focus on Growth We aim to invest in companies that are positioned for rapid growth, both organically and through corporate development.
As healthcare investors, we value our reputation and the reputations of the companies we invest in among medical professionals, regulators, commercial partners, and, most importantly, patients.
We believe that maintaining an ecosystem of integrity and compliance is paramount to succeeding in the healthcare field.
Our goal is to be a trusted partner with an uncompromising commitment to uphold our high standards for trust and accountability.
We are strong believers in “skin-in-the-game.” In our experience, real financial alignment and commitment to success come hand-in-hand.
As investors, we like to approach business with a true owners’ mentality. As former healthcare executives, we frequently observed that meaningful investment by (and incentives for) management teams are correlated with superior results.
We constantly look for ways to maximize alignment as part of our investment process.
Having built several companies from the ground up as founders, operators, and investors, our team has learned the importance of grit and endurance first hand.
Healthcare companies face unique risks and challenges, and companies that are developing new and innovative products and services in particular must be prepared to react and execute in the face of uncertainty.
As investors, we believe a mentality of perseverance is critical to creating value and ultimately making an impact on the lives of patients.
Our investment process involves gaining a thorough understanding of the scientific basis for medical products, whether they are still in development or already on the market. In a highly competitive healthcare landscape, we believe high quality science and/or medical properties, in concert with traditional barriers to entry like intellectual property, afford the greatest, most durable advantages.
We utilize both internal and external scientific and medical experts during diligence and throughout the life of our investments. Our advisors, in particular, bring decades of experience in the field of drug development, ranging across pre-clinical, clinical, CMC, regulatory, intellectual property, and life cycle management.
As hands-on investors, we seek to leverage our capital, industry network, and operating backgrounds to help companies achieve larger scale and market leading positions. We do this by financing research and development, funding corporate development, and making investments in infrastructure. We work with management teams to identify and recruit top tier talent. We provide transactional support by sourcing acquisition targets and other business development opportunities, assisting with due diligence, and advising on negotiations and integrations.
As a result, we believe we can accelerate the growth profiles of the companies we invest in. In addition to creating value, growth often manifests in making new products and services available to patients, which is our ultimate goal.
AVEGO IN THE NEWS
January 1 2022
Amneal Acquires Saol Therapeutics’ Baclofen Franchise
January 5, 2022
BRIDGEWATER, N.J. & ROSWELL, Ga.–(BUSINESS WIRE)–Amneal Pharmaceuticals, Inc. (NYSE: AMRX) (“Amneal”) and Saol Therapeutics, a private specialty pharmaceutical company (“Saol”), today announced a definitive agreement under which Amneal will acquire Saol’s Baclofen franchise, including Lioresal® and LYVISPAHTM as well as a pipeline product under development. The acquisition expands Amneal’s commercial institutional and specialty portfolio in neurology while adding commercial infrastructure in advance of its entry into the biosimilar institutional market. The transaction is expected to be accretive to Amneal’s adjusted EBITDA and adjusted earnings per share results for 2022.
December 12 2021
Saol Therapeutics Announces FDA Approval of LYVISPAH™ (baclofen) Oral Granules and the Divesture of its Plasma-derived Hyperimmune Portfolio
December 7, 2021
ROSWELL, Ga. and DUBLIN and HAMILTON, Bermuda /PRNewswire/ — Saol Therapeutics today announced that the U.S. Food and Drug Administration (FDA) has approved Saol’s LYVISPAH™ (baclofen) oral granules.
LYVISPAH™ (lye-vis’-pah) is indicated for the treatment of spasticity resulting from multiple sclerosis, particularly for the relief of flexor spasms and concomitant pain, clonus, and muscular rigidity. LYVISPAH™ may also be of some value in patients with spinal cord injuries and other spinal cord diseases. LYVISPAH™ is a strawberry-flavored, dissolvable granular formulation of baclofen and will be available for patients 12 years and above in 5mg, 10mg, and 20mg packets. Unlike other formulations of baclofen, it is approved for administration with or without water, with soft foods and with enteral feeding tubes.
November 11 2021
Ellie Diagnostics Raises Growth Equity from Avego Healthcare Capital
November 10, 2021
DALLAS /PRNewswire/ — Ellie Diagnostics is pleased to announce a new capital partnership with Avego Healthcare Capital. Through this strategic investment, Avego will support Ellie in the expansion of its unique position as the leading independent diagnostic provider for veterinarians in the United States.
November 11 2021
Antios Therapeutics Raises $75 Million in a Series B-1 Funding to Advance Clinical Programs for HBV
November 3, 2021
MENDHAM, N.J. /PRNewswire/ — Antios Therapeutics, Inc. (“Antios”), a clinical-stage biopharmaceutical company developing innovative therapies to treat and cure chronic hepatitis B virus (HBV), today announced the successful closing of a $75 million Series B-1 financing. The financing round was co-led by GordonMD Global Investments, a firm focused on investments in private and publicly traded global growth and innovative biopharma companies primarily located in the United States, Japan, and Europe.
October 10 2021
Jasper Therapeutics Closes Transaction With Amplitude Healthcare Acquisition Corporation
September 24, 2021
REDWOOD CITY, Calif.–(BUSINESS WIRE)–Jasper Therapeutics, Inc., a biotechnology company focused on hematopoietic cell transplant therapies, today announced the completion of its business combination with Amplitude Healthcare Acquisition Corporation (Nasdaq:AMHC), a special purpose acquisition company sponsored by affiliates of Avego Management, LLC and Metalmark Capital. The business combination closed on September 24, 2021. Following the closing, the combined company will operate as Jasper Therapeutics, Inc. and, on or about September 27, 2021, its shares of voting common stock and warrants are expected to begin trading on the Nasdaq Global Select Market under the ticker symbol “JSPR” and “JSPRW,” respectively.
August 8 2021
Ribon Therapeutics Secures $65 Million Financing
July 14, 2021
CAMBRIDGE, Mass.–(BUSINESS WIRE)–Ribon Therapeutics, a clinical stage biotechnology company developing therapeutics targeting stress support pathways in cancer and inflammation, announced the closing of a $65 million financing. The financing was led by Deerfield Management and U.S. Venture Partners, with support from new investors Avego BioScience Capital, GV (formerly Google Ventures), Monashee Investment Management and Peregrine Ventures, along with existing investors AbbVie Ventures, Bristol Myers Squibb, Euclidean Capital, Johnson & Johnson Innovation – JJDC, Inc., Novartis Venture Fund, Osage University Partners, Takeda Ventures and The Column Group. Ribon will use the proceeds to support the clinical development of its novel precision medicine candidates.
Jasper Therapeutics and Amplitude Healthcare Acquisition Corporation Announce Merger to Create a Publicly Listed Leading Biotechnology Company in Hematopoietic Stem Cell Transplantation
May 06, 2021
REDWOOD CITY, Calif., & NEW YORK–(BUSINESS WIRE)–Jasper Therapeutics, Inc., a biotechnology company focused on hematopoietic cell transplant therapies, and Amplitude Healthcare Acquisition Corporation (Nasdaq: AMHCU), a special purpose acquisition company (SPAC) sponsored by affiliates of Avego Management, LLC and Metalmark Capital, today announced they have entered into a definitive business combination agreement. Upon closing of the transaction, anticipated to occur in the third quarter 2021, the combined company will be renamed Jasper Therapeutics, Inc., and its common stock is expected to be listed on Nasdaq under the ticker symbol “JSPR.”
Arch Oncology Secures $105 Million Series C Financing
April 27, 2021
BRISBANE, Calif. and ST. LOUIS (GLOBE NEWSWIRE) — Arch Oncology, Inc., a clinical-stage immuno-oncology company focused on the discovery and development of anti-CD47 biologic therapies, today announced that it has closed a $105 million Series C financing co-led by Eventide Asset Management, Cowen Healthcare Investments and current investor 3×5 Partners, who were joined by new investors Adage Capital Management, Point72 Asset Management, Avego Healthcare Capital, FMB Research and Broadfin Holdings.
Caribou Biosciences Raises $115M Series C Financing to Advance Next-Generation CRISPR Technologies and Allogeneic Cell Therapy Pipeline
March 03, 2021
BERKELEY, Calif.–(BUSINESS WIRE)–Caribou Biosciences, Inc., a leading clinical-stage CRISPR genome editing biotechnology company, announced today the successful completion of an oversubscribed $115 million Series C financing. Proceeds from the financing will be used to further develop the Company’s proprietary, next-generation CRISPR technology platform and to advance the Company’s pipeline of wholly-owned allogeneic immune cell therapies for oncology with best-in-class potential.
Santen and U.S. Ophthalmic Company Eyevance Enter into Share Purchase Agreement
September 16, 2020
OSAKA, Japan and FORT WORTH, Texas /PRNewswire/ — Santen Pharmaceutical Co., Ltd. (hereinafter “Santen”) and Eyevance Holdings LLC announced that Santen Holdings U.S. Inc., a wholly-owned subsidiary of Santen, and Eyevance Holdings LLC entered into a share purchase agreement where Santen Holdings U.S. Inc. acquires all of outstanding shares of Eyevance Pharmaceuticals Holdings Inc. (hereinafter “Eyevance”).