Scion Life Sciences announces close of oversubscribed fund of USD 310M

Scion Life Sciences announced the final close of its inaugural fund, which was oversubscribed with $310 million in capital commitments.

Scion is led by longstanding partners and experienced company-builders and investors Samuel W. Hall, PhD, and Aaron M. Kantoff, together with Tadd S. Wessel.

“We believe that solving clinically important problems is the fundamental driver of value creation in the life sciences industry and that sustained, long-term support is critical to building companies capable of generating these solutions,” said Sam Hall, PhD, co-founder, and Managing Partner of Scion Life Sciences. “These convictions determine where we invest our capital and human resources and how we build our portfolio companies.”

The team has also established Scion Innovations to provide in-house R&D capabilities and operational resources. This equips Scion with the information and technology to ensure that only programs with exceptional potential mature into full-scale portfolio company investments.

“We build companies with the primary objective of creating important new medicines, not exits,” added Aaron Kantoff, co-founder, and Managing Partner of Scion Life Sciences. “Our proactive and data-driven approach to company building allows us to generate a concentrated portfolio of best ideas, optimized to yield real medicines that change the lives of patients and caregivers. This objective, along with our long duration fund structure, enable us to build sustainably operating biotechnology companies, that are capable of ascending to valuations in the tens of billions as they commercialize clinically transformational new medicines.”

“We appreciate the trust of our limited partners that share the Scion team’s conviction in the profound economic and societal value creation potential of clinically important new medicines,” said Tadd Wessel, co-founder, and Managing Partner of Scion Life Sciences and Petrichor. “Sam and Aaron have established themselves as exceptional investors and company builders and the outlier success of the companies they have previously built together provides impressive validation of their unique approach. I and the entire Petrichor team are delighted to partner with them in building Scion.”
MB Bureau