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Regeneron Ventures Launches with $500 Million Commitment to Fuel Promising Biotechnology Innovation

GREENWICH, Conn., April 15, 2024 (GLOBE NEWSWIRE) -- Regeneron Ventures announces its formation as a venture capital fund focused on promising biopharmaceutical, health care and health technology companies. The fund’s general partner will be independently managed by former Regeneron executives Jay S. Markowitz, M.D., and Michael Aberman, M.D., who together will lead investment strategy of the fund. Regeneron Pharmaceuticals, Inc. is the fund’s exclusive limited partner and has committed $100 million annually for five years.1

“Understanding that the most groundbreaking, transformative approaches to preventing and treating disease may yet to be discovered, the fund will invest for the long-term, agnostic to therapeutic area, technology and stage of development,” said Markowitz.

Drs. Markowitz and Aberman both started their professional careers in medicine before transitioning into investing and operational roles in biotech. They share Regeneron’s patient-centric mission and commitment to doing well by doing good.

“Our goal is to cultivate an ecosystem where the next generation of biotech companies can thrive, drawing on the lessons learned and successes achieved at Regeneron and throughout our careers,” said Aberman. “Together, we will strive to identify and support groundbreaking advancements that push the boundaries of what's possible in science and medicine.”

About Regeneron Ventures
Regeneron Ventures is a health care venture capital fund launched in April of 2024. Our purpose is to invest wisely to help build and grow companies that become great by improving health. Although we operate independently from our single and exclusive limited partner, Regeneron Pharmaceuticals, Inc., we share the same patient-centric, science-based mission, principles, and values. Our investment mandate includes health care broadly, but our interest is skewed towards biotechnology, devices, tools, and enabling technologies. We base our investment decisions on the quality of the people, science, and data. We like breakthrough innovation. We tolerate risk and uncertainty. We are open-minded. We doubt and question. We recognize that companies are idiosyncratic, if not unique, and should follow their own path. Our aim is to help portfolio companies turn great ideas into great products that do great things for patients. Success in that mission is what will drive our investment results.

About the Regeneron Ventures Leadership Team
Prior to joining Regeneron Ventures, Michael Aberman, M.D., was the CEO and Co-founder of XenImmune Therapeutics, a seed stage biotech company. Previously, he was the president and chief executive officer of Quentis Therapeutics, an early-stage biotech company. Before Quentis, Michael spent over seven years at Regeneron, most recently as the Senior Vice President of Investor Relations and Strategy. In that role, he was a member of the senior management team and responsible for investor relations, corporate communications, business development, and corporate strategy. Michael joined Regeneron after six years as a biotechnology analyst at Credit Suisse and Morgan Stanley. Previously, he was Director of Business Development at Antigenics, Inc., an oncology-focused biotechnology company. Michael received his B.A. from Cornell University, his medical degree from the University of Toronto, completed residency training in internal medicine at New York Presbyterian Hospital, and received an M.B.A. from The Wharton School of Business.

Jay Markowitz, M.D., joined Regeneron Ventures from ARCH Venture Partners, where he was a Senior Partner. In his three years at ARCH, Jay was a founder of three companies and served as a board member and advisor for two others. He has 16 years of public market investment experience at T. Rowe Price Associates and Capital World Investors, where he focused on the biotechnology and pharmaceutical industry. From 2017 to 2020, Jay was a Senior Vice President at Regeneron. Prior to his investment career, Jay was a transplant surgeon and assistant professor at the Johns Hopkins University School of Medicine. He completed a transplant surgery fellowship at UCLA, a general surgery residency at the Massachusetts General Hospital, and a research fellowship in cellular and molecular immunology in the division of cancer biology at the Harvard School of Public Health. Jay received his M.D. from Duke University, where he was elected to the Alpha Omega Alpha honor society, and his B.A. in chemistry, Summa Cum Laude, from Columbia University, where he was elected to Phi Beta Kappa.

1 Full commitment is contingent on registration under the U.S. Investment Advisors Act of 1940.

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