NG Bio

Co-founders Mohammad Khobreh and Jason Goldstein lead the fund's strategic direction and day-to-day operations, respectively. Khobreh brings the life-sciences family-office track record and manages LP and pharma co-investor relationships; Goldstein handles venture creation and serves as a board member or observer at multiple portfolio companies. Tim Carlton directs therapeutic development and preclinical planning for each venture.

NG Bio sources through its scientific network rather than competitive syndicate processes. The team's advisors — former senior directors of UCB's new-targets scouting, large-pharma business-development leads, and immunology drug developers — bring early visibility into academic and biotech targets. The firm also collaborates regularly with pharmaceutical companies, sharing deal flow and aligning on growth opportunities before investment.

NG Bio's model is built around direct venture creation and early-stage equity investments in immunology companies. The firm does not publicly indicate a fund-of-funds program or passive fund-commitment activity. It builds companies from the therapeutic concept stage, works alongside founders on preclinical translation, and then syndicates later rounds.

NG Bio targets early-stage companies—often from ideation and venture creation through preclinical development. The firm's principals have built three companies in-house and led or co-led multiple investment rounds before syndication. The portfolio spans stealth-mode therapeutics alongside active platform and tool companies.