Ascenta Capital has an 'interesting' portfolio of Biotech Investments
The CEO served as the Chief Financial Officer of Moderna from April 2014 to June 2020,
I found this when I was looking over the background of Moderna
“Lorence Kim, M.D. is the co-founder and Managing Partner of Ascenta Capital, a biotech venture capital firm formed in 2022. Previously, he was a Venture Partner at Third Rock Ventures from 2020 to 2022.
He served as the Chief Financial Officer of Moderna from April 2014 to June 2020, raising $4.4 billion of capital for the company and deploying resources to discover and advance a pipeline of 24 development candidates across infectious disease, oncology, rare disease and autoimmune disease, including the Moderna COVID-19 vaccine.
As of his departure, Moderna had raised the three largest private financing rounds, the largest IPO and the largest follow-on offering in biotech history.
Dr. Kim joined Moderna after an investment banking career at Goldman Sachs from 2000 to 2014, where he was a managing director and co-head of the U.S. biotechnology investment banking effort.
Dr. Kim’s responsibilities included corporate finance and mergers and acquisitions for the biotechnology industry, with several billion in equity and equity-linked financings, and more than $55 billion in M&A transactions.”
This is the team on their website:
There you can see “Our Team Worked in 30+ Approved Medicines.” Hmmmm.
For Critical Thinkers Only
This next comment is for the critical thinkers that subscribe to Inside Pharma - please no comments about ‘depopulation’ for the moment.
Please check out these quotes from above
“[Dr Kim was at] Goldman Sachs from 2000 to 2014, where he was a managing director and co-head of the U.S. biotechnology investment banking effort.”
“Dr. Kim’s responsibilities included corporate finance and mergers and acquisitions for the biotechnology industry, with several billion in equity and equity-linked financings, and more than $55 billion in M&A transactions.”
So, we are not just talking about the $$$$$s made by Moderna, Pfizer and AZ for the jabs. No, the massive merchant banks are making an order of magnitude more $$$$$$$ from investors in biotech.
Add J. P. Morgan to the list, with their Annual Healthcare Conference, and a plethora of other ‘bankers’ who have their snouts in the trough, and we are talking, potentially, $$$$$ Trillions.
It would be great to get some comments on this, only please, remember, pop your critical thinking head on beforehand.
Great investment strategy by banks, given the money for the vaccines came from govts, especially western govts, able to afford the hefty prices. Is this 'wealth transfer' from nations to corporations? Our nation of Oz is still reeling from the economic damage of the whole covid debacle. Look at how many small businesses closed, homes were lost unable to meet mortgages because businesses were closed and people lost jobs and income.
The super rich can never have enough. Like the hungry ghosts (buddhist teaching) with fat bellies to fill and tiny little mouths, they suck up everything in their insatiable but never satisfied greed. Found something interesting today: interestofjustice.org
I don't make any biotech investments usually. I looked at BiopharmaDive which provides updates in the world of biopharma. I looked at their tables of biotech stocks and most stocks seems to be presenting large losses in stock prices from 50%-100%. These are companies with no products or maybe a few.
I think many of these companies come to market with IPOs (initial public offerings) and are hyped up with some drug they have developed or are developing. It's all about the future. Stock prices ramp up on promises and hope and after a few years, most of these darlings fail to deliver. They lose capital and cannot afford to develop any new drugs.
If they are partly successful, a bigger company may buy them out (M & A). The big money is made on the initial hype. Private investors have made investments in the stocks before they become public and then dump shares after the big run up.
Accredited investors (those with some big money) can often buy these companies for pennies a share or a few bucks a share before they become public. Since there are so many potholes, you almost have to be an insider and have access to information that is not readily public. Or be a good guesser.