Venture • Life Science

TPG and Adams Street Partners Invest In Fusion Pharmaceuticals

On February 23, 2017, private equity firm TPG and asset manager Adams Street Partners invested in life science company Fusion Pharmaceuticals

Investment Context
  • This is TPG’s 35th and Adams Street Partners’ 13th transaction in the Life Science sector.
  • This is TPG’s 4th and Adams Street Partners’ 4th transaction in Canada.
  • This is TPG’s 1st and Adams Street Partners’ 2nd transaction in Ontario.
Investment Fate
  • Fusion Pharmaceuticals went public in 2020.
  • Fusion Pharmaceuticals was sold to a strategic buyer in 2024 for 2.4B USD.

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Investment Summary

Date February 23, 2017
Target Fusion Pharmaceuticals
Sector Life Science
Investor(s) TPG
Adams Street Partners
Deal Type Venture

Target Company

Fusion Pharmaceuticals

Hamilton, Ontario, Canada
Fusion Pharmaceuticals is a pharmaceutical company focused on the targeted alpha therapy field. Fusion will exploit its unique expertise in linking medical isotopes to targeting molecules to create highly effective therapeutics. Fusion Pharmaceuticals was formed in 2014 and is based in Hamilton, Ontario.
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Investors Overview 2

Investor

TPG

Fort Worth, Texas, United States

Investor Investor Investor Investor


Category Private Equity Firm
Founded 1992
PE ASSETS 296.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

TPG Capital is a global, mega-sized private investment firm that manages a family of funds focused on private equity, real estate, venture capital, public equity and debt investing. TPG invests in opportunities across a broad range of industries and geographies. TPG generally seeks to invest in established businesses that can benefit from the Firm's operational experience and connections. Industries of interest include consumer, retail, healthcare, industrials, digital media, natural resources, energy, real estate, technology, and software. TPG was formerly known as Texas Pacific Group and was originally established in 1992 by David Bonderman, James Coulter and William Price. The Firm is based in Forth Worth, Texas with additional offices in Europe, Asia, and Australia.


Deal Context for Investor #
Overall 279 of 453
Sector: Life Science 35 of 46
Type: Venture 63 of 93
State: Ontario 1 of 1
Country: Canada 4 of 7
Year: 2017 4 of 35
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-02-20 Mobike Singapore Pte

Singapore, Singapore

Mobike Singapore Pte Ltd. is a bike sharing service to fulfil urban short trips conveniently, anytime, anywhere, by combining innovation and today’s IoT (Internet of Things) technology. Mobike is green, reduces congestion and continually strives to improve the quality of city life. Mobike provides an affordable means of shared transportation for convenient short urban trips, while reducing congestion and our city's carbon footprint that improves the quality of city life.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-02-28 CCC Intelligent Solutions

Chicago, Illinois, United States

CCC Intelligent Solutions is a Software as a Service provider to the automotive, insurance, and collision repair industries. CCC brings together what matters most connections into the industry’s leading automotive claims network, superior productivity through the innovative cloud, mobile, hyper-scale technologies, and apps, and insights to make the best decisions. CCC Intelligent Solutions was founded in 1980 and is based in Chicago, Illinois.

Sell -
Investor

Adams Street Partners

Chicago, Illinois, United States

Investor Investor Investor Investor Investor


Category Asset Manager
Founded 1972
PE ASSETS 60.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Adams Street Partners is a diversified, global investment firm that targets direct, fund of funds, and secondary investments. Adams' direct investing group covers co-investments in buyout transactions, as well as growth equity and venture capital commitments. The direct buyout and growth equity team looks to commit $5 to $30 million per transaction. For venture related investments, commitments of $5 to $20 million are provided to companies in the technology, life sciences and technology enabled services sectors. Typically, target companies have received prior financing from early stage venture firms and are seeking additional capital to fund product development and commercialization. Adams Street Partners was formed in 1972 and is based in Chicago, Illinois.


Deal Context for Investor #
Overall 108 of 152
Sector: Life Science 13 of 23
Type: Venture 76 of 102
State: Ontario 2 of 2
Country: Canada 4 of 4
Year: 2017 3 of 10
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-02-08 WelbeHealth

Covina, California, United States

WelbeHealth provides full-service care to help seniors age well at home and in their community, often at no cost. Services include medical, coordination, home care, dental, transport, physical therapy, prescriptions, social activities and meals. WelbeHealth was founded in 2015 and is based in Covina, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-04-11 Cirius Therapeutics

Grand Rapids, Michigan, United States

Cirius Therapeutics is a clinical-stage pharmaceutical company focused on the development of innovative therapies for the treatment of liver and metabolic diseases. Cirius is developing MSDC-0602K, a novel, once-daily, oral small molecule for the treatment of nonalcoholic fatty liver disease (NAFLD), which includes nonalcoholic steatohepatitis (NASH), with Type 2 diabetes. Cirius Therapeutics was founded in 2015 and is based in Grand Rapids, Michigan.

Buy -

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