# TPG Biotech

> TPG Biotech is a VC fund backing Biotechnology and Health Care. See 55 investments, check sizes, portfolio and contact details. Updated Aug 2026.

- Type: VC Fund
- Location: San Francisco, United States
- Total investments: 55
- Last investment: Apr 2026
- Lead investor: 35%
- Last updated: Aug 2026
- Website: https://www.tpg.com

TPG Biotech is a VC fund in San Francisco focused on Biotechnology and Health Care. TPG Biotech is part of the growth equity and venture investment platform of TPG, the global private investment firm. TPG Biotech targets investments in pharmaceutical discovery and development, medical technology, diagnostics, healthcare and pharmaceutical services, life sciences, as well as industrial applications of biotechnology. TPG Biotechhas access to the broader resources of TPG.

## Contacts

5 contacts available for TPG Biotech. Shizune tracks 5 team members at TPG Biotech. Sign up free to unlock them: https://app.shizune.co/sign-up/investor-profiles/find-team-emails/tpg-biotech?utm_source=investor_profile

## Investment focus

### Industry

| Industry | Investments | Share |
| --- | --- | --- |
| Biotechnology | 26 | 47% |
| Health Care | 15 | 27% |
| Medical | 11 | 20% |
| Pharmaceutical | 10 | 18% |
| Biopharma | 8 | 15% |

30 industries tracked in total.

### Stage

| Stage | Investments | Share |
| --- | --- | --- |
| Series B | 16 | 29% |
| Series A | 11 | 20% |
| Series C | 11 | 20% |
| Series D | 7 | 13% |
| Funding Round | 2 | 4% |

9 stages tracked in total.

### Country

| Country | Investments | Share |
| --- | --- | --- |
| United States | 25 | 45% |
| Israel | 2 | 4% |
| Japan | 1 | 2% |
| Canada | 1 | 2% |
| Denmark | 1 | 2% |

6 countries tracked in total.

## Team

| Name | Title | Investments | Profile |
| --- | --- | --- | --- |
| Eran Nadav | Managing Director | 9 | https://shizune.co/investors/profile/eran-nadav |
| Jim Coulter | Co-Founder | 9 | https://shizune.co/investors/profile/jim-coulter |
| Kelvin L. Davis | Co-Founder | 0 | https://shizune.co/investors/profile/kelvin-l-davis |
| Kevin Lind | Lead Underwriter | 0 | https://shizune.co/investors/profile/kevin-lind |
| William S. Price | Co-Founder | 3 | https://shizune.co/investors/profile/william-s-price |

## Investments

| Company | Description | Amount | Stage | Date | Website |
| --- | --- | --- | --- | --- | --- |
| Achieve Life Science | Achieve Life Science manufactures pharmaceutical products. The firm develops cytisine as a smoking cessation aid. | $180M | Post-IPO Equity | Apr 16, 2026 |  |
| Avalyn Pharma | Avalyn Pharma is a biopharma company that advances therapies for the treatment of Idiopathic Pulmonary Fibrosis (IPF) and other severe respiratory diseases. Its therapies rapidly advance AP01 for the treatment of IPF, provides additional pipeline candidates for IPF, improve the care and outcomes of severe respiratory diseases, and develop novelinhaled therapeutics.Avalyn Pharma was established in 2011 and is headquartered in Seattle, Washington. | $100M | Series D | Jul 22, 2025 |  |
| ADCendo | ADCendo ApS is a biotech company dedicated to developing new types of anti-cancer drugs. We focus on antibody-drug conjugates (ADCs) directed at novel targets, that have been found to be overexpressed by several cancer forms, that are all characterized by a significant unmet need for novel treatment. | $135M | Series B | Nov 25, 2024 |  |
| Carisma Therapeutics | Carisma Therapeutics is a biotechnology company developing cellular immunotherapies to treat solid tumors. Its cell therapies apply powerful chimeric antigen receptor technology and adoptive cell transfer in cancer therapy and to macrophages that infiltrate the solid tumor micro-environment that enables solid tumor patients to receive strongcellular immunotherapy and cancer treatments. The company's technology leverages advances in macrophage biology, chimeric antigen receptor engineering, and adoptive cellular therapy for the treatment of human disease.Founded in 2016 by Michael Klichinsky and Saar Gill, Carisma Therapeutics is headquartered in Philadelphia, Pennsylvania. | $30M | Series C | Sep 21, 2022 |  |
| Carisma Therapeutics | Carisma Therapeutics is a biotechnology company developing cellular immunotherapies to treat solid tumors. Its cell therapies apply powerful chimeric antigen receptor technology and adoptive cell transfer in cancer therapy and to macrophages that infiltrate the solid tumor micro-environment that enables solid tumor patients to receive strongcellular immunotherapy and cancer treatments. The company's technology leverages advances in macrophage biology, chimeric antigen receptor engineering, and adoptive cellular therapy for the treatment of human disease.Founded in 2016 by Michael Klichinsky and Saar Gill, Carisma Therapeutics is headquartered in Philadelphia, Pennsylvania. | $12M | Series B | Mar 01, 2021 |  |
| Carisma Therapeutics | Carisma Therapeutics is a biotechnology company developing cellular immunotherapies to treat solid tumors. Its cell therapies apply powerful chimeric antigen receptor technology and adoptive cell transfer in cancer therapy and to macrophages that infiltrate the solid tumor micro-environment that enables solid tumor patients to receive strongcellular immunotherapy and cancer treatments. The company's technology leverages advances in macrophage biology, chimeric antigen receptor engineering, and adoptive cellular therapy for the treatment of human disease.Founded in 2016 by Michael Klichinsky and Saar Gill, Carisma Therapeutics is headquartered in Philadelphia, Pennsylvania. | $47M | Series B | Jan 07, 2021 |  |
| Azura Ophthalmics | Azura Ophthalmics is a clinical-stage company that develops an innovative portfolio of compounds to advance treatments for MGD, the leading cause of DED. By targeting the root cause of MGD, Azura brings the promise of improved health and well-being to millions of people worldwide who suffer from MGD and other ocular surface diseases where treatmentoptions are currently lacking. Azura is underpinned by an experienced management team with an established track record of successfully developing and commercializing novel treatments for ocular surface diseases. The company headquartered in Tel Aviv-Yafo, Israel with operations in Australia and the U.S. | $20M | Series C | Oct 22, 2020 |  |
| DNAnexus | DNAnexus develops a cloud platform and global network designed for scientific collaboration and accelerated discovery. It provides security, scalability, and collaboration for enterprises and organizations that are pursuing genomic-based approaches to health in order to accelerate medical discovery. DNAnexus is supporting customers around the worldthat are tackling some of the most challenging and exciting opportunities in human health.The company was founded in 2009 and is based in Mountain View, California. | $100M | Series G | Jun 09, 2020 |  |
| Avalyn Pharma | Avalyn Pharma is a biopharma company that advances therapies for the treatment of Idiopathic Pulmonary Fibrosis (IPF) and other severe respiratory diseases. Its therapies rapidly advance AP01 for the treatment of IPF, provides additional pipeline candidates for IPF, improve the care and outcomes of severe respiratory diseases, and develop novelinhaled therapeutics.Avalyn Pharma was established in 2011 and is headquartered in Seattle, Washington. | $35.5M | Series B | Apr 27, 2020 |  |
| Satsuma Pharmaceuticals | Satsuma Pharmaceuticals is a clinical-stage biopharmaceutical company engaged in developing a novel therapeutic product for the treatment of migraine. Its product candidate, STS101, is a drug-device combination of a dry-powder formulation of dihydroergotamine mesylate, or DHE, which can be self-administered with a pre-filled, single-use, nasaldelivery device. | $62M | Series B | Apr 24, 2019 |  |

10 of 55 investments shown.

## Co-investors
- [HealthCap](https://shizune.co/investors/profile/healthcap) — VC Fund, 9 deals together
- [Novo Ventures](https://shizune.co/investors/profile/novo-ventures) — VC Fund, 9 deals together
- [OrbiMed](https://shizune.co/investors/profile/orbimed-advisors) — VC Fund, 7 deals together
- [RiverVest](https://shizune.co/investors/profile/rivervest) — VC Fund, 7 deals together
- [Canaan Partners](https://shizune.co/investors/profile/canaan-partners) — VC Fund, 5 deals together
- [Domain Associates](https://shizune.co/investors/profile/domain-associates) — VC Fund, 5 deals together

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## FAQ

### What does TPG Biotech invest in?

TPG Biotech invests primarily in Biotechnology, Health Care and Medical startups, most often at Series B and Series A stage. Most of the 55 investments tracked by Shizune back companies in United States. The Investment Focus section breaks down every industry, stage and country in the portfolio.

### How do I contact TPG Biotech?

Public channels for TPG Biotech include the website linked on this profile. For a verified work email and phone number, create a free Shizune account — contact data is searched across 20+ sources and validated before delivery, so your outreach lands in the right inbox.

### Who are the partners at TPG Biotech?

The team at TPG Biotech includes Eran Nadav (Managing Director), Jim Coulter (Co-Founder) and Kelvin L. Davis (Co-Founder). The Team section lists each member with their title, investment count and links.

### 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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