T.Rx Capital Raises $77.5M to Back Early-Stage Biotech and Digital Health
T.Rx Capital closed a $77.5 million inaugural fund to back early-stage companies at the interface of technology and biology, targeting biotechnology "techbio" and tech-enabled services. The firm plans a concentrated portfolio of roughly 10-15 companies, writing $5–$10 million checks from company creation through Series B.
T.Rx was co-founded by Michael Langer, Corey McCann, and Kwesi Frimpong-Boateng, with Robert Langer (co-founder of Moderna) serving as Executive Chairman. Venture Partners include Debbie Lin (Caris Life Sciences) and Liz Kwo (Everly Health). The advisory board lists Mark Levin (Third Rock Ventures), Freda Lewis-Hall (ex-Pfizer), John Abele (Boston Scientific), Al Sandrock (Voyager Therapeutics; ex-Biogen R&D), and Peter Barton Hutt (Covington; ex-FDA Chief Counsel). The firm is based in Boston and San Francisco.
Left to right: T.Rx Capital Executive Chairman Dr. Bob Langer, and Co-Founders Dr. Corey McCann, Kwesi Frimpong-Boateng and Michael Langer. Photo credit: T.Rx Capital
According to a simultaneous WSJ report, the fund completed its final close in July at $77.5 million, below an initial $125 million target, and has already backed seven companies spanning biotech and digital health. Only part of T.Rx Capital’s seven-company portfolio is public. The firm’s site names two digital-health bets (Zus Health and Recuro Health) and references two stealth efforts—a seed-stage radiopharmaceuticals venture and a T.Rx-founded NewCo in neuro/pain, while deal disclosures show T.Rx co-led PursueCare’s $20 million Series B in December 2023. The remaining two investments are not yet disclosed.
Regulatory filings earlier in the year show the vehicle had reported $58.24 million sold as of February 7, 2025, before the final close.
Topic: Biotech Ventures
