Overview
EcoR1 Capital, LLC (“EcoR1”) is a limited liability company that has been in business since 2012.
EcoR1’s manager, controlling owner and portfolio manager is Oleg Nodelman. As of December
31, 2023, EcoR1 had total discretionary net assets under management of approximately $3.858
billion. EcoR1 only manages assets on a discretionary basis.
EcoR1 serves as the general partner of and investment adviser to the EcoR1 Capital Funds (the
“Capital Funds”), which invest principally, but not solely, in equity and equity-related securities
that are issued by biotechnology companies and traded publicly in U.S. and non-U.S. markets.
The Capital Funds also invest in illiquid securities (generally, restricted securities of public and
private companies). EcoR1 also serves as the investment adviser to the EcoR1 Venture
Opportunity Funds (the “Venture Funds”), which invest principally, but not solely, in restricted
equity and equity-related securities issued by privately-held biotechnology companies globally.
EcoR1 intends to allocate investment opportunities in such restricted securities between the Capital
Funds and the Venture Funds as described in each fund’s offering materials.
In the future, EcoR1 may, but is not required to, offer one or more
investors in its funds or clients
(or any other persons) the right to participate in investments in which the Capital Funds or the
Venture Funds participate if (a) EcoR1 believes that such participation would benefit those funds
or the portfolio company or (b) EcoR1 determines that those funds have been allocated the full
amount of such investment in the portfolio company in light of their risk-return profiles, available
capital and other considerations EcoR1 determines to be relevant. Any such fund that may be
established in the future is called an “SPV” and collectively, the “SPVs.”
The Capital Funds, the Venture Funds and the SPVs are collectively referred to herein as “clients”
or “funds.”
EcoR1 selects all fund investments and strategies. While the offering documents for each fund
describes the specific investment strategy that EcoR1 intends to follow for that fund, EcoR1 is
generally authorized to enter into any type of investment transaction that it deems appropriate
under the terms of the applicable fund’s or client account’s governing documents. The investors
in the funds that EcoR1 manages have no opportunity to select or evaluate any fund investments
or strategies.
EcoR1 does not participate in wrap fee programs.