Avidity Partners Management

Founder Michael Gregory serves as Managing Partner and Chief Investment Officer and is the primary decision-maker for the portfolio, per public record. Co-founder Eyal Levy, who previously managed a healthcare portfolio at Kingdon Capital, is also a Managing Partner and contributes to investment strategy. The firm maintains a concentrated partnership structure, consistent with the operator-centric model common among high-conviction biotech hedge funds.

Avidity runs a concentrated, catalyst-driven long/short equity strategy focused exclusively on the biotechnology and life-sciences sectors. The firm targets clinical-stage and commercial-stage biopharma companies where binary events — such as clinical data readouts and regulatory decisions — create pricing inefficiencies. Position sizing is driven by deep scientific diligence, and the portfolio typically maintains limited names with high conviction.

Avidity's nine-office structure — spanning US hubs like San Francisco, Boston, and Baltimore, along with international locations in Tel Aviv, Toronto, and London — is designed to provide proximity to regional innovation clusters. This distributed research model gives the team access to academic key opinion leaders, clinical investigators, and biotech management teams across multiple geographies. The firm's sourcing relies on primary scientific diligence and direct engagement rather than relying solely on sell-side research or conference-driven idea generation.

Avidity focuses on publicly traded biopharma companies across therapeutic areas including oncology, rare disease, immunology, and genetic medicine. Public filings show the firm has held positions in names such as Revolution Medicines and Argenx across reporting periods. The strategy spans clinical-stage companies approaching binary catalysts and commercial-stage firms where market expectations diverge from fundamental revenue trajectories.

Avidity is headquartered in New York but operates a distributed footprint with offices in Dallas, Palo Alto, San Francisco, Boston, Baltimore, Miami, Toronto, London, and Tel Aviv. This multi-node model is unusual among biotech hedge funds and reflects a thesis that local presence in multiple innovation ecosystems improves access to management teams and scientific intelligence.

Avidity Partners is structured as an asset manager operating a hedge fund strategy, not a family office. The firm manages external institutional capital through a dedicated biotech long/short equity vehicle. Its founding partners came from institutional investment backgrounds — Michael Gregory from venBio Select and Eyal Levy from Kingdon Capital — and the firm's investor base includes endowments, foundations, and other institutional allocators.

Avidity's core strategy is concentrated in publicly traded biopharma equities, reflecting its catalyst-driven approach to liquid markets. Public filings and available reporting do not indicate a dedicated private-placement or crossover-venture allocation. The firm's model appears built around the liquidity and binary-event calendar that public biotech markets offer, distinguishing it from hybrid public-private life-sciences managers.