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Stonepine Capital Management
Stonepine Capital Management operates as a dedicated life-science investment firm, founded by Mr.
Stonepine Capital Management
Stonepine Capital Management operates as a dedicated life-science investment firm, founded by Mr. Plexico who previously led healthcare corporate finance at Merriman Curhan Ford & Co. and co-founded Venture Ready Partners. The team blends operational roots with capital-markets expertise: Mr. Plexico began his career at Quidel Corporation and was an early employee at Chemdex, while research director Mr. Carroll has spent over a decade at the firm evaluating commercial-stage life-science opportunities. The firm concentrates on biotechnology and life-science companies, largely through private investments in public equity (PIPEs), secondary offerings, and direct private placements. The principals have served on the boards of multiple portfolio companies including Zila, Inc., Immunetech, Inc., Viveve Medical, Inc., and ADMA Biologics. Stonepine’s model leverages management's experience at firms like Burrill & Company, where Mr. Fong helped build assets under management to over $1 billion, and Biomark Capital, giving Stonepine a network that stretches across both private and public biotech stages. Stonepine is headquartered in Bend, Oregon, with an additional presence in West Palm Beach, Florida. Mr. Nunnenkamp, a CPA and former vice president at PIMCO, joined as COO and CCO in 2017, bringing infrastructure from the institutional alternatives space. While the firm does not disclose assets under management, its structure and tailored deal flow suggest a concentrated portfolio that leverages the team's board-level relationships. Stonepine’s structural differentiator lies in its hybrid posture: a life-science specialist that operates at the intersection of venture capital and PIPEs, exploiting inefficiencies in small and mid-cap biotech public markets. With adjacent experience at Burrill and Biomark, the principals act as a conduit between private boardrooms and public-market capital, a configuration that gives them sourcing advantages over generalist healthcare investors.
General information
Firm type
Asset Manager
Year founded
—
AUM
Undisclosed
Location
Region
North America
Country
United States
City
Bend
Corporate office
2900 NW Clearwater Drive, Suite 100-11, Bend, OR 97703, United States
Additional offices
West Palm Beach, FL, United States
Principals
Mr. Plexico
Principal and Founder
Mr. Fong
Co-Founder and Managing Partner of Biomark Capital (related entity)
Mr. Nunnenkamp
Chief Operating Officer and Chief Compliance Officer
Mr. Carroll
Director of Research
Sector focus
Frequently asked questions
Who runs investment decisions at Stonepine Capital Management?
Mr. Plexico, the founder and principal, leads investment decisions. He is supported by Mr. Carroll, who serves as Director of Research and has evaluated life-science opportunities at Stonepine for twelve years. The firm's governance is lean; Mr. Nunnenkamp, the COO and CCO, oversees operations and compliance.
How does Stonepine source its investment opportunities?
Stonepine draws on deep sector networks built over decades. Mr. Plexico's prior role at Merriman Curhan Ford & Co. focused on PIPEs and secondary offerings, while Mr. Fong's background includes co-heading venture capital at Burrill & Company, which managed over $1 billion. Their board seats at companies like ADMA Biologics and Viveve Medical further embed them in life-science deal flow.
Does Stonepine focus on private or public investments?
Stonepine targets both. The firm actively participates in private investments in public equity (PIPEs) and secondary offerings, as well as direct private placements. Its emphasis leans toward small to mid-cap biotechnology companies, often at the commercial or late-clinical stage.
What investment stages does Stonepine target?
The firm emphasizes commercial-stage life-science companies, according to its Director of Research, Mr. Carroll. Principals' board experience spans both early commercial entities and more mature public companies, giving them latitude across pre-revenue and revenue-generating stages within biotechnology and medtech.
How is Stonepine related to Biomark Capital and Burrill & Company?
Mr. Fong, a firm principal, is a co-founder and managing partner of Biomark Capital, a life-science venture firm. He previously served as co-head of venture capital and general partner at Burrill & Company. While Stonepine is a separate legal entity, the shared leadership creates an overlapping network and investment philosophy across the three firms.
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