A personal health scare ignited a mission, and today, ORI Capital stands as a testament to the transformative power of both human empathy and artificial intelligence (AI). This life sciences venture firm, led by Simone Song, has not only secured a $260 million second fund following a string of successful investments, but also pioneered a novel approach to identifying promising startups using AI.
The story began in 2015 when a routine colonoscopy revealed a suspicious finding for Song, then the head of healthcare investment banking for Goldman Sachs in China. After undergoing emergency surgery, the three-day wait for test results presented a life-altering moment. If the results were negative, Song vowed to dedicate the rest of her life to directly contributing to advancements in disease treatment.
Fortunately, the tumor was benign. True to her word, Song left Goldman Sachs and launched ORI Capital in 2016. Their debut fund of $200 million fueled investments in companies like CG Oncology, a bladder cancer therapy developer, and Semma Therapeutics, whose innovative cell treatment for type 1 diabetes was acquired by Vertex Pharmaceuticals for $950 million.
ORI's portfolio boasts other notable successes. Kymab, a monoclonal antibody company, was acquired by Sanofi for $1.1 billion, and Enable Injections, a developer of wearable injector technology, secured partnerships with pharmaceutical giants like Apellis Pharmaceuticals.
Beyond financial success, ORI prioritizes addressing critical medical needs. "We only invest in areas where the firm has deep expertise," says Director Elaine Yang. This strategic focus targets cancer, neurodegenerative, and metabolic disorders, where breakthroughs can significantly impact lives.
While ORI's initial fund relied on traditional methods like personal connections, their second fund takes a groundbreaking approach. They have built a sophisticated AI-powered platform that sifts through vast data sets, identifying promising startups based on multiple parameters.
This platform analyzes information from various sources, including data providers, clinical trial databases, and industry professional databases. It tracks companies, healthcare experts, and researchers, enabling a comprehensive assessment of potential investments.
The AI platform employs various filters to refine its search. It identifies companies targeting ORI's specific disease areas and developing relevant drug types, such as immuno-oncology cell therapies and next-generation small-molecule drugs. Additionally, it evaluates scientific founders, management teams, and the science behind the technology itself.
While AI efficiently narrows down thousands of companies, the final selection rests with human expertise. ORI's team meticulously evaluates shortlisted companies, ensuring they align with the firm's mission and investment philosophy.
ORI's unique blend of human empathy, strategic focus, and cutting-edge AI technology positions them for continued success in the life sciences venture capital landscape. As Song aptly concludes, "We can't afford to make a mistake that will cost us millions. This approach helps us identify promising startups and ultimately, contribute to the development of life-saving treatments."
