# Dafna Capital Management

> Dafna Capital Management is a VC fund in Los Angeles backing Biotechnology and Health Care. See 16 investments, check sizes, portfolio. Updated Aug 2026.

- Type: VC Fund
- Location: Los Angeles, United States
- Total investments: 16
- Last investment: Apr 2026
- Lead investor: 6%
- Last updated: Aug 2026
- LinkedIn: https://www.linkedin.com/company/dafna-capital-management/
- X (Twitter): https://twitter.com/dafnacapital
- Website: http://www.dafnacapital.com

Dafna Capital Management is a VC fund in Los Angeles focused on Biotechnology and Health Care. DAFNA Capital Management, LLC, a Los Angeles based SEC registered investment advisor, specializes in managing long/short portfolios of predominantly publicly traded biotechnology and medical device companies. Founded in 1999, for over 17 years we have merged unparalleled expertise, intellectual curiosity, and investment rigor to fund thefuture of medicine and prudently manage the wealth entrusted with us by our investors

## Investment focus

### Industry

| Industry | Investments | Share |
| --- | --- | --- |
| Biotechnology | 16 | 100% |
| Health Care | 8 | 50% |
| Therapeutics | 8 | 50% |
| Pharmaceutical | 7 | 44% |
| Biopharma | 5 | 31% |

13 industries tracked in total.

### Stage

| Stage | Investments | Share |
| --- | --- | --- |
| Post-IPO Equity | 15 | 94% |
| Venture - Series Unknown | 1 | 6% |

### Country

| Country | Investments | Share |
| --- | --- | --- |
| United States | 10 | 63% |
| Israel | 2 | 13% |
| China | 1 | 6% |
| Sweden | 1 | 6% |
| Switzerland | 1 | 6% |

6 countries tracked in total.

## Investments

| Company | Description | Amount | Stage | Date | Website |
| --- | --- | --- | --- | --- | --- |
| Adlai Nortye | Adlai Nortye is a global clinical-stage biopharmaceutical company focused on innovative oncology drugs, with its R&D and global clinical operation centers in both China and the United States. With a strategic emphasis on oncology, it has built a global pipeline through collaborations and internal discoveries with more than 10 drug candidates indevelopment. | $150M | Post-IPO Equity | Apr 16, 2026 |  |
| Palvella Therapeutics | Palvella Therapeutics is a start-up life sciences company that focuses on relentlessly and selflessly serving abandoned patient populations with therapies. The company specializes in developing therapies that specifically target the root cause of the disease. Palvella Therapeutics was founded in 2015 and headquartered in Wayne, Pennsylvania. |  | Post-IPO Equity | Dec 13, 2024 |  |
| Century Therapeutics | Century Therapeutics is a developer of allogeneic living drugs created to offer treatment for cancer. The company's genetically-engineered, iPSC-derived immune effector cell products are designed to specifically target hematologic and solid cancers by harnessing the power of adult stem cells, providing patients with an unparalleled opportunityto advance the course of cancer care. | $60M | Post-IPO Equity | Apr 11, 2024 |  |
| Aprea | Aprea is a Swedish biotech company focusing on the discovery and development of novel anticancer compounds reactivating the tumor suppressor protein p53. The Company's lead program, APR-246, is a first-in-class small molecule drug candidate in clinical development. Aprea's main shareholder is KDev Investments AB, an investment vehicleowned by Karolinska Development AB (Nasdaq Stockholm: KDEV) and Rosetta Capital Ltd. Other shareholders include Östersjöstiftelsen, Praktikerinvest, and KCIF Co-Investment Fund KB. | $16M | Post-IPO Equity | Mar 11, 2024 |  |
| PolyPid | PolyPid is a development stage company that has developed a platform technology for the healthcare industry that enables a controlled and prolonged release of any active pharmaceutical ingredients (API).PolyPid’s technology combines polymers and lipids, enabling small-and-large API entrapment in degradation and hydration protected environments,regardless of their chemical or physical characteristics.PolyPid allows the release of the API from the reservoir at pre-determined rates of up to several months, with a constant release rate (zero-order kinetics). The flexibility of this innovative technology enables local administration of compounds across numerous therapeutic classes for several applications. | $16.2M | Post-IPO Equity | Jan 04, 2024 |  |
| Syros Pharmaceuticals | Syros Pharmaceuticals is a life sciences company that is focused on treating disease by mapping gene regulatory circuits and modulating the factors that regulate gene expression. Syros has pioneered world-leading gene control research and drug discovery capabilities with a proven ability to integrate disease biology and genomic data--a proficiencythat is not well represented in pharmaceutical R&D.Central to the Syros approach is a proprietary platform of carefully integrated assay technologies, bioinformatics, and biologic insights developed by members of Syros' senior leadership. While this scientific approach has applications in many therapeutic areas, Syros has demonstrated success initially in oncology, where it may help address numerous unmet medical needs. | $45M | Post-IPO Equity | Dec 19, 2023 |  |
| Compass Therapeutics | Compass Therapeutics, Inc. is a clinical-stage biopharmaceutical company, developing antibody therapeutics to treat both solid tumors and hematologic malignancies. Compass is leveraging its proprietary StitchMabs™ and common light-chain enabled multispecific platforms to empirically identify multispecifics and combinations of antibody therapeuticsthat can be advanced to the clinic. The company's lead product candidate, CTX-009, is a bispecific antibody, which inhibits both DLL4-mediated Notch signaling and VEGF-A signaling. CTX-009 has completed a Phase 1 dose escalation study and is in a Phase 1b study in combination with chemotherapy in patients with solid tumors. The company’s second product candidate, CTX-471, is a novel agonistic antibody of CD137, a co-stimulatory receptor on immune cells. It is currently being evaluated in a Phase 1b study in patients who were previously treated with PD-1/PD-L1 checkpoint inhibitors, and who subsequently relapsed or progressed after a period of stable disease. Compass’ third product candidate, CTX-8371, is a bispecific antibody that blocks both PD-1 and PD-L1 and is in IND-enabling studies. The company was founded in 2014 and is headquartered in Boston, Massachusetts. | $80M | Post-IPO Equity | Nov 02, 2022 |  |
| KAHR medical | KAHR Medical ("KAHR") is pioneering the development of "third generation biological drugs," a unique class of proprietary fusion-protein molecules with clear and far-reaching advantages. KAHR's technology represents a paradigm shift in protein-based pharmaceuticals that will significantly expand available treatment optionsfor cancer and autoimmune disorders. | $46.5M | Venture - Series Unknown | Jun 16, 2021 |  |
| Gemini Therapeutics | Gemini Therapeutics is a precision medicine company focused on genetically defined dry age-related macular degeneration (AMD) and associated rare genetic diseases. Their therapeutic candidates are matched to molecular abnormalities found in patients with high clinical needs and our broad multimodal pipeline includes monoclonal antibodies,recombinant proteins, and gene therapies. Launched with funding from leading life science investors and powered by academic partnerships around the world, they are developing a series of potentially first-in-class therapeutics. | $95M | Post-IPO Equity | Feb 08, 2021 |  |
| ObsEva | ObsEva SA is a Swiss-based, speciality biopharmaceutical company dedicated to the development of innovative drugs for women's reproductive medicine. ObsEva's main focus is on therapies for preterm labor.ObsEva was founded in November 2012, by Ernest Loumaye MD, PhD and André Chollet PhD. Ernest Loumaye is a specialist in femalereproductive medicine with 20 years of experience in the biopharmaceutical industry. Ernest Loumaye was previously Co-Founder and CEO of PregLem SA, a successful biopharmaceutical company which was acquired by Gedeon Richter in 2010. André Chollet is specialist in medicinal and pharmaceutical chemistry with more than 30 years of experience in diverse positions in the biopharmaceutical industry, including in Biogen, GSK and Merck Serono. André Chollet was responsible for the preterm labor program at Serono before the acquisition of the company by Merck KGaA. | $60M | Post-IPO Equity | Oct 10, 2017 |  |

10 of 16 investments shown.

## Co-investors
- [Adage Capital Management](https://shizune.co/investors/profile/adage-capital-management) — VC Fund, 3 deals together
- [Cormorant Asset Management](https://shizune.co/investors/profile/cormorant-asset-management) — VC Fund, 3 deals together
- [OrbiMed](https://shizune.co/investors/profile/orbimed-advisors) — VC Fund, 3 deals together
- [Perceptive Advisors](https://shizune.co/investors/profile/perceptive-advisors) — VC Fund, 3 deals together
- [Bain Capital Life Sciences](https://shizune.co/investors/profile/bain-capital-life-sciences) — VC Fund, 2 deals together
- [Biotechnology Value Fund](https://shizune.co/investors/profile/biotechnology-value-fund) — VC Fund, 2 deals together

## Similar investors

### Similar stage
- [RA Capital Management](https://shizune.co/investors/profile/ra-capital-management) — VC Fund
- [KB Securities](https://shizune.co/investors/profile/kb-securities) — VC Fund
- [Frazier Healthcare Partners](https://shizune.co/investors/profile/frazier-healthcare-ventures) — VC Fund

## FAQ

### What does Dafna Capital Management invest in?

Dafna Capital Management invests primarily in Biotechnology, Health Care and Therapeutics startups, most often at Post-IPO Equity and Venture - Series Unknown stage. Most of the 16 investments tracked by Shizune back companies in United States. The Investment Focus section breaks down every industry, stage and country in the portfolio.

### When did Dafna Capital Management last invest?

The most recent investment recorded for Dafna Capital Management closed in Apr 2026. Shizune tracks 16 investments in total for this profile, including round sizes, stages and portfolio companies, all sourced from confirmed public funding rounds and refreshed monthly.

### Is Shizune's investor data accurate?

Yes — every stat on this profile is calculated from confirmed public funding rounds monitored across hundreds of sources since 2020. This profile was last refreshed in Aug 2026 and is updated monthly. Spotted something off? Use the “Suggest an edit” link near the top of the page.

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