# Greenfire Bio

Greenfire Bio is an Asset Manager based in Frisco, United States.

## Overview

- **Organization type:** Asset Manager
- **Headquarters:** Frisco, United States
- **Region:** North America
- **Address:** Frisco, TX, United States
- **Founded:** 2020
- **Assets under management:** Undisclosed
- **Website:** www.greenfirebio.com
- **LinkedIn:** https://www.linkedin.com/company/greenfire-bio

## Regulatory record

- **Reports private funds:** No

## About

Greenfire Bio (GFB) is an oncology focused clinical stage biopharma company that collaborates with, in-licenses or acquires early-stage assets and develops them through clinical proof-of-concept and beyond. As it accesses new assets, it sets up new subsidiaries to advance them into and through the clinic. It deploys an experienced biopharma team and partner ecosystem to accelerate late pre-clinical and early clinical assets into products, and monetizes through out-licensing, sale or IPO.

## Sectors

- Digital Health
- Healthcare Services

## Offices

- Austin, TX

## People

- Ajit Singh Gill — CEO and Founder
- Hong-Min Suh — Chair

## Questions

### Who runs investment and operational decisions at Greenfire Bio?

Ajit Singh Gill serves as CEO and Founder, directing both investment decisions and clinical development strategy. He previously led Nektar Therapeutics as CEO, bringing operator-level drug development experience to the firm's portfolio construction. Hong-Min Suh, Chair of M2N Corp, serves as Chair of Greenfire Bio, reflecting the Korean strategic partner's governance role via its 42.8% ownership stake (public record).

### How is Greenfire Bio structured relative to its Korean partner?

M2N Corp, a Korean company chaired by Hong-Min Suh, holds a 42.8% equity stake in Greenfire Bio, LLC, making it the largest single shareholder. This is not a fund-level LP commitment but a corporate-level ownership interest, giving M2N direct governance representation through Suh's role as Chair. The structure allows Greenfire Bio to operate as a US-domiciled entity while routing strategic and financial resources through a Korean corporate partner.

### What clinical programs does Greenfire Bio currently have in development?

The firm's lead disclosed asset is GRN-300, an oncology program in clinical trials at MD Anderson Cancer Center. Separately, Greenfire Bio co-founded MGFB Bio, a joint venture with Mayo Clinic, focused on anticancer vaccine development. Both programs reflect the firm's model of partnering directly with top-tier US research institutions rather than investing passively in third-party biotech startups (public record).

### Does Greenfire Bio operate as a venture capital firm or a biotech operating company?

Greenfire Bio functions more like a hybrid operating company than a conventional venture fund. It creates and manages clinical-stage assets through joint ventures and institutional partnerships rather than making LP-style fund commitments to external biotech management teams. The firm's deals with Mayo Clinic and MD Anderson are structured as direct collaborative development arrangements, not portfolio-company investments.

### What is the relationship between Greenfire Bio and Nektar Therapeutics?

There is no ongoing structural relationship between Greenfire Bio and Nektar Therapeutics. The connection is through founder Ajit Singh Gill, who served as CEO of Nektar prior to founding Greenfire Bio. His operating experience at Nektar — a publicly traded biotech — informs Greenfire Bio's direct development model, but the two entities are legally and financially separate (public record).

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- [Greenfield New Venture Studio](https://altss.com/profile/greenfield-new-venture-studio)
- [Green Flag Ventures](https://altss.com/profile/green-flag-ventures)

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Last updated: 2026-08-11T15:06:57.816Z

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