In 2010, Jim Tananbaum launched Foresite Capital Management. He is the Chief Executive Officer of this company, based in San Francisco, which invests in new companies in the healthcare industry. He started in the healthcare industry in 1991 when he co-founded GelTex Pharmaceuticals which successfully had two drugs approved by the FDA for an amount less than $80 million. His company was bought in 1998 for $1.6 billion by Genzyme after one of their drugs started producing annual sales of more than $200 million. This drug, Renzela, today brings in $1 billion a year for Genzyme.
After selling Geltex, Jim Tananbaum co-founded Theravance, Inc. Serving once again as the CEO, he handled the details of creating a joint venture with another pharmaceutical company, Innoviva. Their spin-off was Theravance Biopharma, Inc. and these two companies are now worth an estimated $3.2 billion.
Before founding Foresite Capital, Tananbaum was involved in two other investment firms focused on the healthcare industry. The first, Sierra Ventures, he was a partner at. He next co-founded Prospect Venture Partners II and III in 2001 which he continued to serve at until 2010. During this time he was the lead on a number of investments in the healthcare industry including those into Healtheon, Jazz Pharmaceuticals, Amerigroup, and Amira Pharmaceuticals.
According to Market Wired, in order to accomplish his goals, Jim Tananbaum has said it takes not only capital but also creating relationships with other thought leaders in his industry. The goal of his company isn’t just to make money but to also help entrepreneurs make discoveries that have a profoundly positive effect on the lives of people around the world.
Scientific advancement in the field of healthcare has always fascinated Jim Tananbaum. He finds inspiration in the way that people in the industry use innovation in order to solve some of the biggest medical needs that people have. He says that soon this innovation will lead to it being common for people to have tissue, saliva or blood samples taken which can be sequenced in order to prevent disease as well as treat it. There are ever new approaches in genomic sequencing which create ever greater insight into people’s health.
Follow Jim: https://twitter.com/jtananbaum