Pivotal BioVenture Partners, the US-based, healthcare-focused venture capital firm financed by property development and healthcare group Nan Fung, has hired Heather Preston as managing partner.
Founded in 2017 with $300m from Nan Fung subsidiary Nan Fung Life Sciences, Pivotal invests in North America and Europe-based life sciences technology developers from seed-stage onwards. It generally looks to supply between $20m and $25m for each portfolio company.
Preston came to Pivotal from TPG Biotech, private equity group TPG’s life sciences venture capital arm, where she had been a partner and managing director for over a decade, having joined in 2005.
Preston said: “Pivotal has already built an excellent portfolio of promising pre-clinical and development-stage biopharmaceutical companies. That said, a significant amount of capital remains to be invested from the fund.
“I look forward to working with my new colleagues to build a leading biotechnology venture capital firm, which will work with exceptional management teams to bring promising new therapeutics to market for important unmet medical needs.”
A seasoned biotech investor, Preston received training in gastroenterology and hepatology from UC San Francisco and was a postdoctoral research fellow in molecular biology at the Dana Farber Cancer Institute. She holds a doctor of medicine degree from University of Oxford.
– Image of Heather Preston courtesy of LinkedIn.
