Frazier has raised a $1.3 billion early-stage fund to boost investments in emerging biotech companies, reflecting strong investor confidence in innovation despite challenging macroeconomic conditions. Similarly, KKR expanded its healthcare portfolio by acquiring HealthCare Royalty Partners (HCRx), gaining expertise in biopharmaceutical asset royalty financing. These financial maneuvers illustrate continued capital flow into promising biopharma ventures, supporting drug development and commercialization across diverse therapeutic areas.