SR One Capital Management

SR One describes itself as a biotechnology venture capital firm that partners with founders and entrepreneurs to translate innovative science into medicines. It says it takes a back-and-build approach, focusing on companies with strong underlying fundamentals, a clearly defined development pathway and novel approaches to disease. Its investing team is based in key biotechnology hubs on the US West Coast and in London, and the firm lists offices in Redwood City, California and London.^[1]

The text of the portfolio page describes companies by what they do rather than naming them, and no page we read states a typical check size or stage. The company names below therefore come from the firm's news page, which carries announcements from portfolio companies but does not say what role SR One played in each deal. Treat every figure in the portfolio and exit sections as a company-level number, not as SR One's investment or return.^[2],[3]

A headline on the firm's news page dated 11/19/2020 reads "SR One Raises $500M; Completes Spinout from GSK." That headline is the firm's own description of its separation from GSK. The same feed carries items dated earlier in 2020, so its older entries predate that headline.^[3]

A Form D for SR One Capital Fund I-A, LP, signed 2020-09-14, lists a total offering amount of $400,000,000 and nothing sold yet. The filing says the fund would invest in parallel with another fund and that the general partner could accept commitments above or below the stated amount. It gives a Pennsylvania address, while the firm's current filings and website use Redwood City, California. We could not reconcile the $400,000,000 filing with the $500M headline, and the pages we read do not explain the difference.^[4],[3]

A headline dated 03/27/2023 reads "SR One Closes Second Venture Fund at $600M." The firm's site does not describe that fund further. A Form D/A for SR One Capital Fund III, LP, signed 2026-06-18, shows a first sale on 2024-10-14. It lists a total offering amount of $600,000,000, with $247,333,564 sold and $352,666,436 remaining, and 45 investors so far. The filing notes that the amount sold includes the general partner's capital commitment. We found no announcement of the third fund on the firm's news page, so the SEC filing is the only source for its size and progress.^[3],[5]

The team page lists Simeon J. George, MD, as founder and CEO and Rajeev Dadoo, PhD, as COO and managing partner. Jake Nunn is a partner, Philip Habib is head of capital partnering, Sasha Keough is general counsel and chief compliance officer, and James Macadam is chief financial officer. Katarina Pance, Laetitia Schwab and Amit Shah are principals. Venture partners are Jake Bauer, Amit Mehta and Matthew R. Patterson, and operating partners are Jill Carroll, Chris Chai and Iqbal Mufti. A headline dated 02/11/2021 says SR One added venture partners to deepen operational expertise. The page gives titles but no biographies, so we do not describe anyone's earlier career.^[6],[3]

Recent financing headlines on the news page include the following. Crystalys Therapeutics launched with a $205M Series A and later announced a $130 Million Series B; Windward Bio announced a $165M crossover financing; Draig Therapeutics launched with $140 Million (£107 Million) in total investment; and Antag Therapeutics announced an €80 Million Series A. Each figure is the company's announced round, not an amount SR One invested.^[3]

The news page also carries pricing announcements for upsized IPOs by Odyssey Therapeutics, Avalyn, Veradermics and ADARx Pharmaceuticals. The IPO headline with the largest figure is ADARx Pharmaceuticals' $446.3 Million upsized offering. The page does not say whether SR One held shares at the IPO or still does.^[3]

The news feed carries acquisition headlines for companies it highlights. Principia Biopharma was reported as acquired by Sanofi for $3.7BN, and Pandion Therapeutics as acquired by Merck for $1.85BN. A 2023 headline refers to Bristol Myers Squibb's $4.1B buyout of Turning Point Therapeutics, and another reports that Takeda would acquire Nimbus Therapeutics' TYK2 program for $4B in upfront cash and up to $2B in potential milestone payments. More recent headlines say Gilead Sciences would acquire Arcellx, Ipsen would acquire Kartos Therapeutics, Chugai Pharmaceutical would acquire Renalys Pharma and Lilly would acquire Morphic. These are announced deal values for the companies. The firm's pages do not say how much of each company SR One owned or what it received, and for the more recent items we did not confirm that the deals closed.^[3]