Biotechnology Value Fund

BVF Partners L.P. (Biotechnology Value Fund) is a San Francisco-based investment firm founded in 1993 by Mark N. Lampert, who serves as CEO, alongside President Matthew Perry. The firm operates as an equity hedge fund manager with a concentrated, fundamentals-driven focus exclusively on the biotechnology and pharmaceutical sectors. BVF primarily targets small- to mid-cap publicly traded biotech companies with market capitalizations between $100 million and $1 billion, though it has flexibility to invest across all sizes. It employs a value-oriented strategy grounded in rigorous scientific and financial due diligence, and at times takes activist stances to unlock shareholder value. The firm manages over $3 billion in assets across multiple investment vehicles. In addition to public equities, BVF also invests in private biotech companies through PIPE transactions, Series A through F rounds, and privately negotiated transactions involving convertible preferred stock and equity instruments. Recent portfolio companies include Entera Bio, Mirum Pharmaceuticals, Septerna, CG Oncology, Tyra Biosciences, Pheon Therapeutics, Kymera Therapeutics, and Protagonist Therapeutics.