Based in Boston, Massachusetts, Cormorant Asset Management was founded in 2013 and primarily invests in medical and life science startups that are 6-10 years old. The fund has a preference for investing in the United States and has made notable investments in companies such as Audentes Therapeutics, Innovent Biologics, and ZAI Lab. With an average deal size ranging from $50 to $100 million, Cormorant Asset Management is known for its active involvement in 13-24 investment rounds annually. The fund has a lower exit rate compared to other organizations and typically participates in rounds with 6-7 other investors.