Tang Capital Management

Tang Capital Management is a San Diego-based venture capital and private equity investment firm specializing in the life sciences sector. Founded in 2002 by Kevin C. Tang, it manages over $1.8 billion in assets and holds significant positions across numerous biotech and pharmaceutical companies[1][2][4]. The firm's portfolio includes investments at various stages of drug development through its holdings but it does not conduct clinical trials or develop drugs itself. Its founder Kevin C. Tang has extensive experience leading and investing in biotech firms including Ardea Biosciences, Jounce Therapeutics, Odonate Therapeutics, Concentra Biosciences, Heron Therapeutics, La Jolla Pharmaceutical Co., among others[1]. As of Q1 2025 filings: Portfolio value exceeds $1.8 billion with over 200 active positions[2][4]. Top holdings include Tarsus Pharmaceuticals (TARS), Galapagos NV (GLPG), Aurinia Pharmaceuticals (AUPH), Dynavax Technologies Corporation (DVAX), Evolus Inc. (EOLS)[8]. The company frequently participates in PIPEs and venture rounds for emerging biotechs[6]. It acts as an investor rather than an operator or developer of therapies.