First Light Asset Management

First Light Asset Management, LLC is an employee-owned investment management firm founded in September 2013 and based in Edina, Minnesota, with an additional office in Mill Valley, California. The firm specializes in managing equity portfolios primarily for high net worth individuals, as well as pension plans, charitable organizations, and corporations. First Light focuses on investments in the health care sector, targeting companies across various market capitalizations and industries, including medical devices, biotech, and health care services. The firm employs a fundamental analysis and bottom-up stock picking approach, leveraging both in-house and external research to identify innovative and disruptive solutions within the health care market. With a dedicated team possessing over 90 years of combined experience, First Light seeks to balance risk and return while aiming to deliver superior investment performance for its clients.

Matt Arens

CEO, Senior Portfolio Manager and Founder

9 past transactions

Caris Life Sciences

Private Equity Round in 2025
Caris Life Sciences specializes in advanced molecular profiling technologies for cancer diagnostics and drug development. Established in 1987, it offers prognostic testing services, genomic profiling, and clinico-genomic data platforms to improve patient outcomes. The company operates globally with offices in the US and Switzerland.

Eledon Pharmaceuticals

Post in 2024
Eledon Pharmaceuticals is a clinical-stage biotechnology company focused on developing treatments for patients undergoing organ or cellular transplantation and those with autoimmune and neurodegenerative diseases. Its lead compound, tegoprubart, is an anti-CD40L antibody targeting the CD40L pathway.

ViroCell Biologics

Convertible Note in 2024
ViroCell Biologics is a contract development and manufacturing organization (CDMO) specializing in the production of viral vectors and gene-modified cells. The company focuses on facilitating the advancement of novel cell and gene therapies into clinical trials. By providing a platform that ensures a rapid, safe, and reliable transition from laboratory research to clinical application, ViroCell Biologics aims to de-risk and enhance the value of cell and gene therapy innovations. This enables medical researchers to obtain the necessary gene-modified cells for their clinical studies, supporting the development of new treatments in the field of regenerative medicine.

AnaptysBio

Post in 2024
AnaptysBio, Inc. is a clinical-stage biotechnology company based in San Diego, California, dedicated to developing therapeutic antibodies for inflammation and immuno-oncology. The company employs its proprietary somatic hypermutation platform to discover and optimize antibodies that target various diseases. Among its notable product candidates are Etokimab, an anti-IL-33 treatment aimed at conditions such as atopic dermatitis and eosinophilic asthma, and ANB019, an anti-IL-36 receptor for generalized pustular psoriasis. AnaptysBio is also advancing a range of immuno-oncology products, including checkpoint modulators and bispecific antibodies, to address cancer treatment needs. The company collaborates with notable partners like TESARO, Celgene Corporation, and GlaxoSmithKline to enhance its research and development efforts. Founded in 2005, AnaptysBio aims to fulfill unmet medical needs through innovative antibody therapies.

Savara Pharmaceuticals

Post in 2024
Savara is an orphan lung disease company. Savara’s pipeline comprises Molgradex, an inhaled granulocyte-macrophage colony-stimulating factor, or GM-CSF, in Phase 3 development for autoimmune pulmonary alveolar proteinosis, or aPAP, in Phase 2a development for nontuberculous mycobacteria, or NTM, lung infection, and in preparation for Phase 2a development in cystic fibrosis, or CF, affected individuals with chronic NTM lung infection; and AeroVanc, a Phase 3 stage inhaled vancomycin for treatment of persistent methicillin resistant staphylococcus aureus, or MRSA, lung infection in CF. Savara’s strategy involves expanding its pipeline of potentially best-in-class products through indication expansion, strategic development partnerships and product acquisitions, with the goal of becoming a leading company in its field. The most recent acquisition is aerosolized amikacin/fosfomycin, a Phase 2 ready, proprietary combination antibiotic, which has demonstrated potent and broad-spectrum antibacterial activity against highly drug resistant pathogens. Savara’s management team has significant experience in orphan drug development and pulmonary medicine, identifying unmet needs, developing and acquiring new product candidates, and effectively advancing them to approvals and commercialization.

Crinetics Pharmaceuticals

Post in 2024
Crinetics Pharmaceuticals is a clinical-stage company focused on discovering, developing, and commercializing therapeutics targeting peptide hormone receptors for treating rare endocrine diseases and related cancers. Its lead product candidate, paltusotine, is an oral selective nonpeptide somatostatin receptor type 2 biased agonist in Phase I trials for acromegaly and neuroendocrine tumors.

Sonendo

Post in 2022
Sonendo is a commercial-stage medical technology company that develops dental devices and software to save teeth. It markets the GentleWave System, a root canal therapy platform that cleans and disinfects the microscopic spaces within teeth without removing tooth structure, improving clinical outcomes and practice efficiency. The system includes a console and accessories and integrates with TDO Software, its endodontic practice management software that unifies imaging, practice management, referral reporting, CBCT imaging, and built-in communication with the GentleWave System. Founded in 2006 and based in Laguna Hills, California, Sonendo operates with two business segments: Product, comprising the GentleWave console and instruments, and Software, providing practice management licenses. The company aims to transform dentistry by saving teeth through sound science.

NeoGenomics

Post in 2021
NeoGenomics Laboratories operates a network of cancer-focused testing facilities in the United States, Switzerland, and Singapore. The company is divided into two main segments: Clinical Services and Pharma Services. It provides a range of genetic and molecular testing services, including cytogenetics, fluorescence in-situ hybridization, flow cytometry, immunohistochemistry, and molecular testing, aimed at helping clinicians and researchers understand cancer at a genetic level. Additionally, NeoGenomics offers morphologic analysis for diagnosis and supports pharmaceutical companies in their oncology programs through testing services that facilitate drug development and clinical trials. The company's collaboration with Inivata Limited for the commercialization of the InVisionFirst-Lung liquid biopsy test exemplifies its commitment to advancing cancer diagnostics. Founded in 2001 and headquartered in Fort Myers, Florida, NeoGenomics serves hospitals, pathologists, oncologists, academic centers, and other clinical laboratories, enhancing cancer care through innovative testing solutions.

Caris Life Sciences

Private Equity Round in 2020
Caris Life Sciences specializes in advanced molecular profiling technologies for cancer diagnostics and drug development. Established in 1987, it offers prognostic testing services, genomic profiling, and clinico-genomic data platforms to improve patient outcomes. The company operates globally with offices in the US and Switzerland.
Spot something off? Help us improve by flagging any incorrect or outdated information. Just email us at support@teaserclub.com. Your feedback is most welcome.