Thessalus Capital LLC Closes Positions in COVID Investments, Appoints New Director Dr. Jason Ngo to Advisory Board

PRINCETON, N.J., March 29, 2022 /PRNewswire/ -- Thessalus Capital Management LLC, a leading biotech and healthcare investment firm, has closed its COVID related investments and appointed Dr. Jason Ngo to its Advisory Board. The steps are part of the firm's shift away from a heavy focus on COVID related vaccines and therapeutics, to a new lineup of promising investments in the biotech space.

"When COVID began in March 2020, our physician-managed investment firm was one of the first to recognize the huge market potential in companies developing treatments for this unprecedented health crisis," says Thessalus Managing Director and President, Dr. Mitchell Ng.  "We bet big on companies developing COVID vaccines and therapeutics, like Moderna (MRNA), Regeneron (REGN), and Pfizer (PFE)."

"We maintained significant positions and are very happy with how those played out," says Dr. Ng. Moderna was the biggest winner, going from little-known startup to premier global developer of mRNA vaccines. Its stock price rose 800% since January 2020. Stock prices of Regeneron and Pfizer, which developed a COVID antibody treatment and COVID mRNA vaccine, respectively, saw similarly eye-popping gains.

Nevertheless, with COVID moving to endemic status, Thessalus is reaching the "end of the road with regards to its COVID play," says Ng. "We're closing positions and re-focusing on our pre-pandemic biotech lineup including CRISPR gene editing technologies, CAR-T cancer immunotherapies, monoclonal antibody treatments, among others."

To that end, says Managing Director Dr. Kenneth Ng, the firm is appointing Dr. Jason Ngo to its Advisory Board.

"Dr. Ngo is one of the best analysts of midsize biotech market caps I've encountered in my medical career. Being a research-heavy fund as we are, Jason did outstanding work for us reviewing Phase III clinical trials and identifying specific M&A activity in orphan drug ventures.  He played a real role in our successful investment in Vertex Pharmaceuticals (VRTX)."

"This appointment is a resounding vote of confidence in Jason's abilities," Ng concludes.  "Overall, these recent steps are a milestone, marking the end of a successful chapter in our fund, and first, exciting steps to ensure continued growth and expansion in coming years."

About Thessalus Capital LLC:

Thessalus is a leading, "content strong" investment firm specializing in US and international life science industries. It takes a global, research-heavy approach, with narrow and deep focus on pharmaceuticals, biotechnology, diagnostic tools, and medical devices. The company creates and executes strategic transactions for growth and to maximize shareholder value.
Thessaluscapital.com

Contact:
Kenneth Ng
(609) 902-6497
[email protected]

SOURCE Thessalus Capital