PBM Capital Group
PBM Capital Group is a healthcare-focused private investment firm founded in 2010 by Paul Manning, deploying capital into pharmaceutical, gene therapy, and medical device companies and providing operational support to portfolio companies.
- Company typePrivate
- Founded2010
- HeadquartersCharlottesville, United States
- Headcount11–50
- GTM typeB2B
- OfferingServices
What PBM Capital Group does
PBM Capital Group is a private healthcare-focused investment firm founded in 2010 by Paul B. Manning following the $800M+ sale of PBM Products to Perrigo. Headquartered in Charlottesville, Virginia, with offices in New York, the firm partners with scientists and entrepreneurs to develop pharmaceutical, biological, and medical device products, providing both capital and operational expertise spanning legal, regulatory, clinical strategy, manufacturing, distribution, sales, marketing, and capital markets. Since inception, the firm has reportedly created more than $10B in shareholder value across its portfolio, which spans gene therapy (Taysha Gene Therapies, Candel Therapeutics, LEXEO Therapeutics, Saliogen, Xallud), dermatology (Verrica Pharmaceuticals, Donnatal), rare disease and oncology platforms, and medical devices (Breas Medical, acquired March 2014; Enzymatics).
The firm's business model is conventional for healthcare-focused private equity and venture capital: it deploys capital into privately held therapeutics and device companies, supports commercialization and regulatory navigation, and realizes returns through IPOs and strategic acquisitions. PBM has guided three portfolio companies to public listings since 2016 (AveXis in 2016, Dova Pharmaceuticals in 2017, and Verrica in 2018) and has delivered multiple strategic exits, including AveXis to Novartis in 2018, Dova to SOBI in 2019, and ArcherDx to Invitae in 2020. The firm continues to provide follow-on capital, including leading a $30M seed for Taysha Gene Therapies in 2020 and supporting an approximately $50M Verrica private placement in November 2025 to retire debt. Portfolio company Verrica also entered a partnership with Walgreens in January 2024 to distribute YCANTH across the U.S. retail pharmacy footprint.
PBM Capital Group firmographics
Firmographics- Name
- PBM Capital Group
- Legal name
- PBM Capital Group, LLC
- Website
- http://www.pbmcap.com
- Company type
- Private
- Founded year
- 2010
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- PBM Capital Group is a healthcare-focused private investment firm founded in 2010 by Paul Manning, deploying capital into pharmaceutical, gene therapy, and medical device companies and providing operational support to portfolio companies.
- Ownership category
- akta.pro rank
PBM Capital Group industry classification
Industry- Product category
- Healthcare Private Equity / Venture Capital
- NAICS
- Portfolio Management and Investment Advice (523940), Other Financial Investment Activities (5239), Other Investment Pools and Funds (5259)
- SIC
- Investment Advice (6282), Security Brokers, Dealers & Flotation Companies (6211)
- akta.pro primary industry
- Public-to-Private (P2P) Buyout (FSANABAG)
Keywords
Where PBM Capital Group is headquartered
LocationHeadquarters
- HQ city
- Charlottesville
- HQ country
- United States
- HQ region
- North America
Offices2 records
Markets served
PBM Capital Group business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Marketing or Sales, Others
Revenue model
- Investment returns and portfolio company value creation: PBM Capital generates returns through equity investments in healthcare and life sciences companies, providing capital, operational expertise, and strategic guidance to develop and commercialize pharmaceutical and biological products. Returns are realized through IPOs and acquisitions of portfolio companies.
Go-to-market motion1 record
Distribution channels1 record
Marketing channels2 records
PBM Capital Group product offering
Product offeringCore offering
PBM Capital Group is a private healthcare-focused investment firm that partners with exceptional scientists, engineers, and entrepreneurs developing game-changing pharmaceutical and biological technologies. The firm provides equity capital along with hands-on operational expertise—including clinical strategy, regulatory navigation, manufacturing scale-up, and commercialization guidance—to enable portfolio companies to bring life-changing therapies to market. Since 2010, PBM Capital and its portfolio companies have created more than $10 billion in shareholder value through investments in gene therapy, rare disease treatments, and other life sciences ventures.
Product overview
PBM Capital is a healthcare-focused investment firm operating as a platform of platform operating companies. Rather than offering a single unified product, PBM Capital provides capital, operational expertise, and strategic resources to a portfolio of pharmaceutical and life sciences companies. The portfolio includes AveXis (gene therapy, acquired by Novartis), Verrica Pharmaceuticals (dermatology products including YCANTH/VP-102), Dova Pharmaceuticals (thrombocytopenia drug DOPTELET, acquired by SOBI), Taysha Gene Therapies, Candel Therapeutics, ArcherDx (acquired by Invitae), and others developing treatments across rare diseases, oncology, and gene therapy.
Differentiator
Problem solved
Functional benefit
Products and services
- PBM Capital Healthcare Investment Services
Quantifiable outcome
- $10 Billion+ in shareholder value created since 2010
- +2 more outcomes
Companies that use PBM Capital Group
Customer profileNamed customers5 records
Segments2 records
Ideal customer profiles1 record
PBM Capital Group technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
PBM Capital Group partnerships and signals
Strategic signalPartnerships
One partnership is on record.
- WalgreenscoreVerrica Pharmaceuticals (a PBM Capital portfolio company) entered into a specialty pharmacy partnership agreement with Walgreens to distribute YCANTH, their FDA-approved treatment for molluscum contagiosum.
Scale indicators3 records
Recent moves7 records
Expansion highlights4 records
PBM Capital Group competitors and assessment
Company assessmentDirect peers
- OrbiMed: Healthcare-dedicated investment firm across venture, growth, and public equities with deep biotech, medtech, and life sciences focus. Comparable to PBM Capital in sector specialization, stage coverage (seed through public), and operating value-add approach to healthcare founders.
- Frazier Healthcare Partners: Healthcare-focused venture and growth capital firm investing across biopharma, medtech, and healthcare services. Comparable to PBM Capital in its dedicated healthcare thesis, multi-stage investment approach, and partnerships with life sciences entrepreneurs.
- ARCH Venture Partners: Venture capital firm focused on early-stage life sciences, physical sciences, and information technology companies. Comparable to PBM Capital in its deep biotech orientation, founder-led portfolio approach, and history of generating large strategic exits (e.g., gene therapy, genomics).
- Versant Ventures: Healthcare-focused venture capital firm investing in biotechnology, medical devices, and healthcare services. Comparable to PBM Capital in its dedicated healthcare mandate, multi-stage coverage, and emphasis on company-building partnerships with entrepreneurs.
- 5AM Venture Management: Early-stage venture capital firm focused on life sciences with a focus on building companies from scientific breakthroughs. Comparable to PBM Capital in its biotech-first mandate and operating-partner style with founders developing breakthrough therapeutics.
- Atlas Venture: Early-stage venture capital firm building biotech companies across multiple therapeutic areas. Comparable to PBM Capital in its therapeutic breadth (rare disease, oncology, gene therapy), company-creation approach, and founder partnerships.
- MPM Capital: Healthcare-dedicated investment firm investing across all stages of therapeutic and medical technology company development. Comparable to PBM Capital in its biotech specialization, company-building approach, and focus on oncology and rare disease therapeutic areas.
- Abingworth: Life sciences-focused investment firm providing venture and growth capital to therapeutics and medtech companies. Comparable to PBM Capital in its dedicated healthcare mandate, multi-stage investing approach, and emphasis on clinical and commercial milestones.
- SV Health Investors: Healthcare-focused venture capital and growth equity firm with a focus on biotechnology and medical technology. Comparable to PBM Capital in its healthcare specialization and founder partnership approach, though with a broader transatlantic footprint.
Broad incumbents
- New Enterprise Associates (NEA): Large multi-stage venture capital firm with a significant dedicated healthcare/biotech practice alongside technology investments. Comparable to PBM Capital's healthcare biotech thesis, though operating at much larger AUM scale and broader sector coverage.
Market position
Strengths4 records
Weaknesses2 records
Competitive moat5 records
Key risks5 records
Key highlights7 records
Customer concentration
PBM Capital Group social profiles
Digital presencePBM Capital Group financial estimates
Financial estimateRevenue estimate
Valuation estimate
PBM Capital Group leadership team
Management profileNumber of profiles
Profiles6 records
PBM Capital Group subsidiaries and ownership
Company hierarchySubsidiaries3 records
PBM Capital Group funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
PBM Capital Group M&A and investment
M&A and investmentM&A1 record
Investments20 records
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about PBM Capital Group
What does PBM Capital Group do?
PBM Capital Group is a private healthcare-focused investment firm that partners with exceptional scientists, engineers, and entrepreneurs developing game-changing pharmaceutical and biological technologies. The firm provides equity capital along with hands-on operational expertise—including clinical strategy, regulatory navigation, manufacturing scale-up, and commercialization guidance—to enable portfolio companies to bring life-changing therapies to market. Since 2010, PBM Capital and its portfolio companies have created more than $10 billion in shareholder value through investments in gene therapy, rare disease treatments, and other life sciences ventures.
Is PBM Capital Group a public or private company?
PBM Capital Group is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was PBM Capital Group founded?
PBM Capital Group was founded in 2010. It employs 11 to 50 people.
Where is PBM Capital Group based?
PBM Capital Group is headquartered in Charlottesville, United States, in the North America region.
How does PBM Capital Group make money?
One revenue line is on record: investment returns and portfolio company value creation.
Who are PBM Capital Group's main competitors?
Direct peers on record are OrbiMed, Frazier Healthcare Partners, ARCH Venture Partners, Versant Ventures, 5AM Venture Management, Atlas Venture, MPM Capital, Abingworth and SV Health Investors. New Enterprise Associates (NEA) is listed as a broad incumbent.
Does PBM Capital Group have an API?
No public API is recorded for PBM Capital Group.
What industry is PBM Capital Group in?
PBM Capital Group's product category is Healthcare Private Equity / Venture Capital. Its primary akta.pro industry code is FSANABAG, Public-to-Private (P2P) Buyout. Its NAICS code is 523940 and its SIC code is 6282.