Frazier Healthcare pulls in $475 million – Money will bankroll biotech and medical device companies

Seattle-based Frazier Healthcare http://www.frazierhealthcare.com has raised a $475 million venture capital fund that it will use to bankroll about 30 new biotechnology and medical device companies across the country.

The new fund, the firm’s fifth in the past 14 years, brings total capital under management at Frazier Healthcare to $1.2 billion. That makes the fund one of the biggest in the Pacific Northwest and in the health care field.

With offices in Seattle, Palo Alto, Calif., and Madison, Wis., Frazier Healthcare and its side fund, Frazier Technology Ventures, employ 16 investment professionals. It recently added Shelley Chu, a biochemist who previously worked for Flagship Ventures and McKinsey & Co. It also employs former doctors, entrepreneurs and college professors.

By JOHN COOK
SEATTLE POST-INTELLIGENCER REPORTER

Full Story: http://seattlepi.nwsource.com/business/226491_frazier01.html