Adjuvant Capital
Global health impact investment fund focused on vaccines, infectious diseases, and global health challenges. Founded in partnership with CEPI, the Wellcome Trust, and other global health organizations.
Website
https://adjuvantcapital.comLocation
Washington, DC, USA
Founded
2017
AUM
$300M
Investment Range
$5M - $30M
Portfolio Companies
16
Focus
biotech-focused
Fund Stages
seed, series-a, series-b, series-c, growth
Investment Thesis
Adjuvant Capital invests in companies developing innovative solutions for global health challenges, with a focus on vaccines, infectious diseases, and neglected diseases. As an impact-first investor, they seek to achieve both financial returns and measurable global health impact, particularly for underserved populations.
Team
Partners / Managing Directors (Health & Bio Focus)
- Andrew Farnum - Managing Partner
- Carolyn Regan - Partner
- Ralf Clemens, MD, PhD - Venture Partner
Other Key Team Members
- Dirk Haussecker, PhD - Principal
Focus Areas
- Vaccines
- Infectious Diseases
- Global Health
- Neglected Tropical Diseases
- Pandemic Preparedness
- Drug Delivery
- Diagnostic Technologies
Notable Exits
- Affinivax - Acquired (2022, by GSK for up to $3.3B)
- Multiple portfolio companies advancing vaccines for global health
Sources
Portfolio Companies
| Name | Location | Founded | Categories |
|---|---|---|---|
| Pulmocide | London, United Kingdom | 2013 | biotechrespiratory+2 |
| Excision BioTherapeutics | San Francisco, California, USA | 2015 | gene-editingcrispr+4 |
| VitriVax | Kansas City, Missouri, USA | 2013 | vaccinesdrug-delivery+2 |
| MinervaX | Copenhagen, Denmark | 2010 | vaccinesinfectious-disease+3 |
| Univercells | Gosselies, Belgium | 2013 | biotechbiomanufacturing+2 |
| LakeShore Biopharma | Shanghai, China & Bridgewater, New Jersey, USA | 2021 | vaccinesbiologics+3 |
| ChromaCode | Carlsbad, California, USA | 2015 | molecular-diagnosticspcr+3 |
| 54gene | Lagos, Nigeria | 2019 | genomicsafrican-genomics+3 |
| Codagenix | Farmingdale, New York, USA | 2012 | vaccinessynthetic-biology+3 |
| AN2 Therapeutics | Menlo Park, California, USA | 2018 | biotechinfectious-disease+2 |
| Themis Bioscience | Vienna, Austria | 2009 | vaccinesinfectious-disease+3 |
| InDevR | Boulder, Colorado, USA | 2003 | diagnosticsvaccines+2 |
| X-Vax Technology | New York, New York, USA | 2015 | vaccinesinfectious-disease+2 |
| LimmaTech Biologics | Basel, Switzerland | 2010 | biotechvaccines+3 |
| Memo Therapeutics | Basel, Switzerland | 2018 | biotechantibody-therapeutics+3 |
| Antiva Biosciences | San Francisco Bay Area, California, USA | 2014 | biotechoncology+3 |