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Adage Capital Management

200 Clarendon Street, 52nd Floor, Boston, Massachusetts, 02116, United States

Overview

Money management firm focused on S&P 500 assets for endowments.

Founded

2001

Deals ยท 12mo

8

Links

WebsiteLinkedIn

Stage focus

Series B

Geographic focus

United States

Sector focus

Finance
Financial Services
Venture Capital

Investment portfolio

85rounds
NAMEDATESIZE
Expedition Therapeutics
Aug 2026Participated
$115 MSeries B
Claris Biotherapeutics
Jul 2026Participated
$118 MSeries B
Lycia Therapeutics
Jun 2026Participated
$75 MSeries D
Ray Therapeutics
Apr 2026Participated
$125 MSeries B
Jixing Pharmaceuticals
Jan 2026Participated
$287 MSeries D
Mirador Therapeutics
Jan 2026Participated
$250 MSeries B
Ambros Therapeutics
Dec 2025Participated
$125 MSeries A
Kailera Therapeutics
Oct 2025Participated
$600 MSeries B
PsiQuantum
Sep 2025Participated
$1.0 BSeries E
Equillium
Aug 2025Participated
$30 MOther Equity
Century Therapeutics
Apr 2024Led
$60 MOther Equity
LEXEO Therapeutics
Mar 2024Led
$95 MOther Equity
Expedition Therapeutics
Aug 2026Participated
$115 MSeries B
Claris Biotherapeutics
Jul 2026Participated
$118 MSeries B
Lycia Therapeutics
Jun 2026Participated
$75 MSeries D
Ray Therapeutics
Apr 2026Participated
$125 MSeries B
Jixing Pharmaceuticals
Jan 2026Participated
$287 MSeries D
Mirador Therapeutics
Jan 2026Participated
$250 MSeries B
Ambros Therapeutics
Dec 2025Participated
$125 MSeries A
Kailera Therapeutics
Oct 2025Participated
$600 MSeries B
PsiQuantum
Sep 2025Participated
$1.0 BSeries E
Equillium
Aug 2025Participated
$30 MOther Equity
Century Therapeutics
Apr 2024Led
$60 MOther Equity
LEXEO Therapeutics
Mar 2024Led
$95 MOther Equity
85
Items
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Insights

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Deal Distribution

Adage Capital Management: 85 funding rounds are recorded in the selected participation categories.All available history.
Adage Capital Management: 85 funding rounds are recorded in the selected participation categories. All available history
Round typeLed dealsParticipated deals
Series A04
Series B026
Series C+326
Other Equity323

Monthly Deal Activity

Adage Capital Management: 85 deals are recorded across 220 months.All available history.
Adage Capital Management: 85 deals are recorded across 220 months. All available history
MonthDeals
Jul '081
Aug '080
Sep '080
Oct '080
Nov '080
Dec '080
Jan '090
Feb '090
Mar '090
Apr '090
May '090
Jun '090
Jul '090
Aug '090
Sep '090
Oct '090
Nov '090
Dec '090
Jan '100
Feb '100
Mar '100
Apr '100
May '100
Jun '100
Jul '100
Aug '100
Sep '100
Oct '100
Nov '100
Dec '100
Jan '110
Feb '110
Mar '110
Apr '110
May '110
Jun '110
Jul '110
Aug '110
Sep '110
Oct '110
Nov '110
Dec '110
Jan '120
Feb '120
Mar '120
Apr '120
May '120
Jun '120
Jul '120
Aug '120
Sep '120
Oct '120
Nov '120
Dec '120
Jan '130
Feb '130
Mar '131
Apr '130
May '130
Jun '130
Jul '130
Aug '130
Sep '130
Oct '131
Nov '130
Dec '130
Jan '140
Feb '140
Mar '142
Apr '144
May '140
Jun '140
Jul '140
Aug '141
Sep '140
Oct '141
Nov '140
Dec '140
Jan '150
Feb '150
Mar '152
Apr '150
May '151
Jun '150
Jul '151
Aug '150
Sep '151
Oct '150
Nov '152
Dec '151
Jan '160
Feb '160
Mar '160
Apr '160
May '160
Jun '160
Jul '160
Aug '160
Sep '160
Oct '160
Nov '160
Dec '160
Jan '170
Feb '170
Mar '170
Apr '170
May '170
Jun '170
Jul '170
Aug '170
Sep '171
Oct '171
Nov '170
Dec '171
Jan '180
Feb '180
Mar '181
Apr '180
May '180
Jun '181
Jul '181
Aug '180
Sep '181
Oct '181
Nov '180
Dec '181
Jan '191
Feb '190
Mar '191
Apr '192
May '190
Jun '190
Jul '190
Aug '190
Sep '191
Oct '190
Nov '190
Dec '190
Jan '200
Feb '201
Mar '200
Apr '200
May '203
Jun '202
Jul '204
Aug '201
Sep '200
Oct '201
Nov '202
Dec '200
Jan '211
Feb '211
Mar '213
Apr '213
May '213
Jun '213
Jul '211
Aug '212
Sep '210
Oct '212
Nov '212
Dec '211
Jan '220
Feb '220
Mar '221
Apr '221
May '220
Jun '220
Jul '220
Aug '220
Sep '220
Oct '220
Nov '220
Dec '220
Jan '230
Feb '230
Mar '230
Apr '230
May '230
Jun '230
Jul '231
Aug '230
Sep '230
Oct '230
Nov '230
Dec '230
Jan '240
Feb '241
Mar '241
Apr '241
May '240
Jun '240
Jul '240
Aug '240
Sep '240
Oct '240
Nov '240
Dec '240
Jan '250
Feb '250
Mar '250
Apr '250
May '250
Jun '250
Jul '250
Aug '251
Sep '251
Oct '251
Nov '250
Dec '251
Jan '262
Feb '260
Mar '260
Apr '261
May '260
Jun '261
Jul '261
Aug '261
Sep '260
Oct '260

Sector Breakdown

Adage Capital Management: Health & Life Sciences is the largest displayed sector by deal count (68 deals).All available history.

A deal can appear in multiple sectors, so sector totals may overlap. Capital represents disclosed total round sizes, not fund cheque sizes.

Adage Capital Management: Health & Life Sciences is the largest displayed sector by deal count (68 deals). All available history
SectorDeals
Health & Life Sciences68
Enterprise Software10
Networks, Cloud & Communication8
Space & Frontier Tech6
Data, Analytics & IT5
AI & Machine Learning4
E-Commerce & Retail3
Cybersecurity & Privacy3
Consumer & Lifestyle3
Hardware & Robotics3
Manufacturing3
Developer Tools3
Travel & Hospitality1
Clean Energy & Sustainability1
Transportation & Logistics1
Fintech1
Professional Services1

Deal Size Distribution

Adage Capital Management: 85 rounds have a disclosed size in the displayed size bands.All available history.

Undisclosed round sizes are excluded. Capital represents total round sizes, not fund cheque sizes.

Adage Capital Management: 85 rounds have a disclosed size in the displayed size bands. All available history
Round size band (USD)Deals
<$5M0
$5M-$10M1
$10M-$25M6
$25M-$50M12
$50M-$100M30
$100M-$250M28
$250M-$500M5
$500M-$1B1
$1B+2

Deals By Geography

Adage Capital Management: United States has the largest recorded deal count among the displayed regions (77 deals).All available history.

Top 5 of 5 regions; European countries are grouped as Europe.

Adage Capital Management: United States has the largest recorded deal count among the displayed regions (77 deals). All available history
RegionDeals
United States77
Canada3
Australia2
Europe2
China1
Adage Capital Management: 20 co-investors are shown, with RA Capital Management sharing 22 recorded deals.All available history.

Co-Investors

Bubble size = shared deals

Click a bubble to open that fund in a new tab.

Shows up to 20 co-investors ranked by shared deals. Deals may be shared with multiple funds, so rows overlap. Capital is total round size, not fund cheque size.

Adage Capital Management: 20 co-investors are shown, with RA Capital Management sharing 22 recorded deals. All available history
Co-investorShared deals
RA Capital Management22
Janus Henderson Investors15
Rock Springs Capital13
T. Rowe Price Associates12
Bain Capital Life Sciences10
Deerfield Management10
HBM Healthcare Investments9
Surveyor Capital9
Boxer Capital8
Farallon Capital Management8
Invus8
OrbiMed8
Redmile Group8
Cormorant Asset Management7
Fidelity Management & Research Company7
Logos Capital7
New Enterprise Associates7
RTW Investments7
Sofinnova Ventures7
Venrock7

Investment Strategy

Adage Capital Management: Led accounts for 7% and participating for 93% of round participation.All available history.
Adage Capital Management: Led accounts for 7% and participating for 93% of round participation. All available history
CategoryDeals (count)Share (%)
Led67%
Participating7993%
Adage Capital Management: Single-lead accounts for 33% and co-led for 67% of lead dynamics.All available history.
Adage Capital Management: Single-lead accounts for 33% and co-led for 67% of lead dynamics. All available history
CategoryDeals (count)Share (%)
Single-lead233%
Co-led467%

Team

Daniel Joseph Lehan

Chief Operating Officer and Chief Compliance Officer

Phill Gross

Co-Founder, Managing Director & Portfolio Manager

Richmond Holden

Technology Investor

Robert George Atchinson

Co-Founder, Managing Director, and Portfolio Manager