MENLO PARK, Calif. and
BOSTON, Sept. 14, 2021 /PRNewswire/ -- Lightstone
Ventures today announced the closing of Lightstone Ventures III
with $375 million in capital
commitments, to invest in early-stage companies developing high
impact therapeutics and technologies that have the potential to
change patients' lives. The new fund was oversubscribed, exceeding
the firm's targeted raise, and included strong support from both
new and existing limited partners. With the closing of Fund III,
Lightstone Ventures also announced the appointments of Christina Isacson, Ph.D., as Partner and
Young Kwon, Ph.D., as Operating
Partner.
"We are very excited for the future of Lightstone and the
important work that this new fund will enable," said Mike Carusi, General Partner at Lightstone. "Our
investment philosophy is guided by a commitment not just to
exciting ideas but to the people leading them forward. This is an
important moment for the firm that builds upon the successes we
have had with our previous two funds and the companies we have
invested in that are already making an impact on patients. We look
forward to continuing our partnership with driven entrepreneurs
developing therapies and technologies that have the potential to be
industry-leading products."
Since its inception in 2012, Lightstone has invested in more
than 30 companies, all of which share a commitment to translating
scientific breakthroughs into clinically and commercially
meaningful therapies and technologies. In addition to venture
capital experience, Lightstone's senior investment team brings
significant operational leadership experience, enabling the firm to
collaborate with founders to establish strategies that transform
their visions into commercially viable products. Lightstone has a
global presence, with offices in Menlo
Park, Calif., Boston,
Mass., Singapore, and
Dublin, Ireland. The team
includes:
- Mike Carusi, General
Partner
- Jean George, General
Partner
- Jason Lettmann, General
Partner
- Hanson S. Gifford, III,
Partner
- Christina Isacson, Ph.D.,
Partner
- Caroline Gaynor, Principal
- Hank Plain, Special Partner
- Mark Deem, Operating
Partner
- Young Kwon, Ph.D., Operating
Partner
- Stacy Enxing Seng, Operating
Partner
- Kenneth D. Noonan, Ph.D., CEO,
Lightstone Singapore PTE. LTD.
- Travis Boettner, CFO &
CCO
The Lightstone team has raised over $850
million since inception and has invested in companies such
as Alchemab Therapeutics, ALX Oncology (NASDAQ: ALXO), Catamaran
Bio, Cyteir Therapeutics (NASDAQ: CYT), Claret Medical (Acquired by
Boston Scientific), Disarm Therapeutics (Acquired by Eli Lilly and
Co.), Gemini Therapeutics (NASDAQ: GMTX), LocanaBio, Nimbus, Ra
Pharma (Acquired by UCB), Tizona (Acquired by Gilead Sciences), and
Willow.
"With Lightstone Ventures III, we look forward to
empowering visionary entrepreneurs who are changing medicine,
providing the same high-touch collaboration that founders have come
to expect from our team along with increased financial resources,"
said Jason Lettmann, General Partner
at Lightstone Ventures. "In addition, we are delighted to welcome
Christina and Young to the team. One of Lightstone's key
differentiators is our ability to leverage our team's leadership
experience to provide hands-on guidance to the founders and teams
we support. Both Christina and Young have held multiple C-suite
level leadership roles, and they bring significant operational
experience that will prove incredibly valuable to our portfolio
companies."
Dr. Isacson has spent over 16 years in the biotechnology
industry and brings experience creating, launching, building and
operating public and private biotech companies. Prior to joining
Lightstone, she was a member of the founding team and Chief
Business Officer at Magenta Therapeutics, and a part of the
founding team at Decibel Therapeutics. She also has extensive
experience in venture capital, most recently with Third Rock
Ventures. Dr. Isacson holds a Ph.D. in Neuroscience from
Tufts University School of Medicine,
Graduate School of Biomedical Sciences, as well as a B.Sc. in
Biology from McGill University.
Dr. Kwon is a proven executive with significant operating and
venture capital experience, and specializes in deal sourcing, due
diligence, and portfolio company management. He has held a variety
of leadership roles with over ten years as a C-suite executive at
Momenta Pharmaceuticals, a public biotech company, prior to its
sale to Johnson & Johnson for $6.5
billion. He holds a Ph.D. in Biological Chemistry and
Molecular Pharmacology from Harvard
University, as well as a B.S. in Biology from the
Massachusetts Institute of
Technology.
About Lightstone Ventures
Lightstone Ventures is a global venture capital firm investing
in biotech and medtech companies pioneering big ideas poised to
transform patient outcomes. We were founded in 2012 to empower
visionary entrepreneurs with the resources and operational guidance
necessary to bring their innovative therapeutics and technologies
to the patients who need them most. Our investment team has led
deals resulting in 19 acquisitions and 20 initial public offerings
over the last two decades. The firm has offices in Boston, Mass., Menlo
Park, Calif., Dublin,
Ireland and Singapore.
For more information, please visit www.lightstonevc.com
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SOURCE Lightstone Ventures