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Enavate secures $300m from Patient Square

Patient Square Capital has invested $300 million in its newly formed company Enavate Sciences, a platform focused on growing therapeutic companies.

Patient Square Capital has invested $300 million in its newly formed company Enavate Sciences, a platform focused on growing therapeutic companies. James Boylan will lead Enavate Sciences.

PRESS RELEASE

MENLO PARK, Calif., May 2, 2022 /PRNewswire/ — Patient Square Capital (“Patient Square”), a leading dedicated health care investment firm, today announced the formation of a new portfolio company, Enavate Sciences, to invest in and enable the growth of therapeutic and enabling technology companies. Enavate has received an initial capital commitment of $300 million from Patient Square and anticipates significant additional funding to be raised over time.

Enavate Sciences will provide capital and strategic growth support to innovative companies to advance and accelerate the development of novel therapies with the intent to improve patients’ health and quality of life.

“Patient Square Capital’s approach to investing in therapeutics focuses primarily on backing talented teams in interesting areas of medicine and progressing multiple clinical programs toward regulatory approval. There are many promising companies with innovative science, however, that do not fit this model,” said Jim Momtazee, Managing Partner of Patient Square and Chairman of the Board of Directors of Enavate Sciences. “This new platform will support a series of these companies that collectively have similar transformative potential by providing the funds and strategic capabilities necessary to advance therapeutic pipelines, which is particularly important given the scarcity of funding in today’s environment.”

Enavate Sciences will be led by James Boylan, an accomplished health care executive, entrepreneur and innovator with nearly three decades of experience. Mr. Boylan most recently served as President and Head of Investment Banking of SVB Leerink, where he architected and led the transformation of Leerink Swann into an industry-leading health care investment bank that was acquired by SVB Financial in 2019. Across his 12 years at SVB Leerink and prior 12 years as a Managing Director at Merrill Lynch, Mr. Boylan has worked with hundreds of life sciences and biotechnology companies to develop strategy and complete transactions in capital markets and mergers & acquisitions. Mr. Boylan has a broad network of CEO, CFO, board member, venture capital, investor and advisor relationships in the health care field. He brings to Enavate both his wealth of experience in the life sciences sector as well as his skillset in partnering with entrepreneurs to build companies for long-term growth.

At Enavate Sciences, Mr. Boylan will assemble a select team of professionals to support Enavate’s various companies in key functions of “company building” in the life sciences sector, including augmenting specific aspects of drug discovery and development, assisting with clinical and market assessments, and providing comprehensive business development expertise.

“We are in the golden age of therapeutics, where the science has never been better understood and the tools to target disease, engineer therapies and deliver drugs to patients with precision have never been more powerful. Yet current financial market dynamics have created significant challenges for therapeutic companies to raise the necessary capital to advance their pipelines. Therefore, we believe this is an excellent time to bring forward a new platform focused on supporting the continued growth needs of these leading companies,” said James Boylan, Chief Executive Officer of Enavate Sciences. “I am proud to join the team at Enavate and look forward to announcing our initial investments very soon and helping our partner companies reach their full potential.”

About Enavate Sciences
Enavate Sciences is a platform dedicated to supporting therapeutic companies advancing medicines and enabling technologies with transformative potential to address patient need. Through the application of capital support and operational experience, Enavate strives to enable and empower a diverse portfolio of therapeutics companies to accelerate innovation. To learn more about Enavate, please visit www.enavatesciences.com.