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BVF Partners

44 Montgomery Street, 40th Floor, San Francisco, CA, 94104, United States

Overview

Biotechnology Value Fund is a San Francisco-based private investment partnership specializing in fundamentally-driven public biotechnology investments. Since its inception in 1993, BVF has strived to build concentrated, long-term investments in small-cap biotechnology companies while performing rigorous diligence and on-going monitoring of its investments. BVF is committed to working with its portfolio companies as partners in their successes.

Total investments
97
Lead investments
18
Investments · 12mo
8
Active investors
9

Sector focus

  • Biotechnology
  • Financial Services
  • Venture Capital
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Investment portfolio

  • Expedition Therapeutics

    Participated · Series B · Aug 2026

    Expedition Therapeutics is developing next-generation oral small molecule therapies targeting inflammatory and respiratory diseases, with its lead program EXPD-101, a once-daily DPP1 inhibitor, currently in a global Phase 2 trial for COPD. The company reported that EXPD-101 was well tolerated in Phase 1 with no dose-limiting toxicities and showed dose-proportional pharmacokinetics supporting once-daily dosing. The first patient has been dosed in the Phase 2 COPD study, marking the company’s transition into mid-stage clinical development. Expedition combines translational expertise and clinical development experience with a platform for in-licensing global innovation. The recent $115 million Series B financing led by General Atlantic is intended to fund EXPD-101 through Phase 2, expand the company’s pipeline of therapies for inflammatory diseases, and further its research discovery efforts. Expedition is based in San Francisco and has announced board expansion tied to the financing.

  • Contraline

    Led · Series B · Jun 2026

    Contraline is advancing both hormonal and non-hormonal approaches to expand contraceptive options for men and couples. Its lead program, NES/T Gel, is a once-daily topical gel combining the synthetic progestin segesterone acetate (Nestorone®) with testosterone; NES/T completed a global Phase 2b trial enrolling 462 couples and showed encouraging efficacy, tolerability, reversibility, and user acceptability. The company holds exclusive worldwide rights to NES/T, which was developed by the Population Council with NICHD. Contraline plans to initiate Phase 3 development of NES/T in 2027. In parallel, the company is developing ADAM™, an investigational long-lasting, non-hormonal, reversible contraceptive currently in clinical development. Contraline recently strengthened its balance sheet by securing $92.5 million in Series B financing to support these development plans.

  • Ambrosia Biosciences

    Participated · Series B · Mar 2026

    Ambrosia Biosciences develops orally bioavailable small molecules targeting metabolic G-protein coupled receptors, including GLP-1, GIP and amylin. The company combines structural biology with advanced computational chemistry to design molecules with differentiated pharmacology intended for both standalone therapies and strategic combinations. Its lead program is an oral small molecule GLP-1 candidate that the company intends to advance into a Phase 1 clinical trial. The recent $100 million Series B committed capital is intended to fund Ambrosia through clinical trial initiation and to support continued development of its broader small-molecule pipeline. The company is based in Boulder, Colorado, and announced a board appointment tied to the financing.

  • Crossbow Therapeutics

    Participated · Series B · Mar 2026

    Crossbow Therapeutics is developing a portfolio of T-Bolt™ T-cell engager (TCE) therapies built from T-cell receptor-mimetic antibodies that target peptide–HLA (pHLA) complexes on cancer cells. Its lead program, CBX-250, is a first-in-class TCE targeting a pHLA specific to myeloid cancer cells and is being evaluated in the ongoing CROSSCHECK-001 Phase 1 trial in relapsed and refractory myeloid malignancies. The company is advancing CBX-663, a TCE targeting a TERT-derived pHLA, toward IND submission and a planned Phase 1 start in Q3 2026 for multiple hematologic and solid tumors. Crossbow positions its T-Bolt™ platform as broadly adaptable to address intracellular cancer targets previously unreachable by antibodies. The company will present preclinical data for both programs at the AACR 2026 Annual Meeting and expects initial clinical data from CBX-250 around the end of 2026. The recent $77 million Series B is intended to fund completion of CBX-250’s Phase 1 and to accelerate initiation and development of additional T-Bolt™ programs.

  • Angitia Biopharmaceuticals

    Participated · Series D · Feb 2026

    Angitia Biopharmaceuticals is a clinical-stage biotechnology company focused on improving musculoskeletal health through innovative biologic treatments. Its pipeline currently features three clinical candidates: AGA2118 for postmenopausal osteoporosis, AGA2115 for osteogenesis imperfecta, and AGA111 for spinal fusion. The company recently completed enrollment in its Phase 2 ARTEMIS trial of AGA2118 and has initiated dosing in the Phase 2 IDUN trial evaluating AGA2115. Proceeds from its latest financing will also advance these programs and other undisclosed pipeline assets. Headquartered in Westlake Village, California, Angitia leverages extensive bone biology expertise and rational drug design to address clear unmet medical needs in serious musculoskeletal diseases. No commercial products have been approved yet, reflecting the firm’s clinical-stage status.

Team

  • Mark Nathan Lampert

    President, CEO/Founder

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  • James Kratky

    Chief Financial Officer, Chief Compliance Officer

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  • Matthew Perry

    Portfolio Manager

  • Michael Murray

    Managing Director

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