# VenBio Partners

VenBio Partners is a Private Equity based in San Francisco, United States.

## Overview

- **Organization type:** Private Equity
- **Headquarters:** San Francisco, United States
- **Region:** North America
- **Address:** San Francisco, CA, United States
- **Founded:** 2012
- **Assets under management:** Undisclosed
- **Website:** www.venbio.com
- **LinkedIn:** https://www.linkedin.com/company/venbio-partners

## Regulatory record

- **CRD number:** 290045
- **SEC file number:** 802-111956
- **Registration status:** Exempt Reporting Adviser — not registered with the SEC
- **Reports private funds:** Yes

## About

venBio is a life sciences investment firm partnering with industry leaders to build game-changing medicines and technologies with a focus on novel therapeutics for unmet medical needs. The firm seeks out teams developing treatments that will have a meaningful impact on patient care. Its mission is to put companies in the best possible position to succeed by helping teams think through the best development plan to bring therapies to patients.

## Sectors

- Biotechnology
- Drug Discovery & Therapeutics

## People

- Corey Goodman — Managing Partner
- Robert Adelman — Managing Partner

## Questions

### Who runs investment decisions at VenBio Partners?

Managing Partners Corey Goodman and Robert Adelman lead the investment committee. Goodman was previously President of Pfizer's Biotherapeutics and Bioinnovation Center and co-founded Exelixis. Adelman brings over 20 years of life-science investment experience. Their combined operational and financial background means every investment decision passes through a filter that evaluates both the drug's biological target and its commercial viability.

### How does VenBio source proprietary deal flow?

VenBio's sourcing relies on its founding partners' deep academic and industry networks. Goodman's relationships across major research universities and Adelman's ties to serial biotech entrepreneurs give the firm early visibility into company formation. VenBio also leverages its strategic advisory network of former pharma executives to identify assets that are undervalued or overlooked by larger syndicates.

### Does VenBio invest in medical devices or diagnostics?

No. VenBio restricts its mandate exclusively to therapeutics — small molecules, biologics, and emerging modalities like gene therapy. The firm has stated publicly that it does not invest in medical devices, diagnostics, or healthcare services. This is a deliberate structural choice to maintain specialist expertise rather than spreading across the broader healthcare landscape.

### What investment stages does VenBio target?

VenBio invests across private and public biotech companies. The firm participates in crossover rounds, where a private company raises capital ahead of an IPO, and in public equities when the team believes a stock is mispriced relative to upcoming clinical data. This multi-stage flexibility is enabled by a fund structure that permits both private and public market exposure.

### What was VenBio's exit track record for acquired portfolio companies?

VenBio's highest-profile exit to date is Principia Biopharma, which Sanofi acquired for $3.7 billion in 2020. The firm was an early investor in Principia and held the position through its 2018 IPO. Akcea Therapeutics, another portfolio company, was acquired by Ionis Pharmaceuticals in a deal that closed in late 2020.

## Related profiles

- [Venafi](https://altss.com/profile/venafi)
- [Venbridge](https://altss.com/profile/venbridge)

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Updated: 2026-08-11T15:08:22.057Z

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