Venture firm Frazier Life Sciences closed an oversubscribed $1.3 billion fund targeting early-stage biopharmaceutical investments, surpassing the previous $987 million raised in 2022. This fund will support company creation and private biotech development, adding to Frazier's portfolio exceeding $3.6 billion since 2016. Despite recent market volatility and funding challenges in the biotech sector, Frazier remains optimistic about advancing innovative therapeutic programs addressing unmet medical needs.