Meet Raven, the RA Capital Healthcare Incubator.

Raven is RA Capital’s healthcare incubator and company-building platform – a team of scientists, operators, and biomedical and healthcare innovators who can create companies around promising opportunities.

Raven operates in three modes:

Identify unmet needs: If there’s an unmet patient need and no investable company tackling it, Raven works to create the company to do it. This might mean licensing technology from academia, recruiting a founding team, and/​or building the company from scratch.

Accelerate development: Raven partners with first-time founders, serial entrepreneurs, and scientific innovators to build companies around promising therapeutics. Raven provides the infrastructure, expertise, and capital to accelerate from concept to clinic.

Unlock hidden value: Raven helps unlock value by focusing on in-licensing underutilized pharma assets and building new companies around them to help unlock their potential. Many promising molecules can sit dormant within large pharma portfolios when they fall outside strategic priorities — we look for opportunities to bring them forward.

From designing AI-guided discovery platforms to recruiting executives to setting up clinical trials and operations, Raven helps biomedical builders build. Our goal is to turn promising science into transformative therapeutics.

Yes. Raven is a company-building platform for both seasoned biomedical innovators and first-time academic or scientific founders.

For experienced entrepreneurs, Raven offers capital, infrastructure, and strategic support to help you move faster. You bring the vision and expertise – we bring resources, market intelligence, and operational capabilities to accelerate execution.

For first-time founders, Raven provides comprehensive support to help turn scientific innovation into durable companies. Many brilliant scientists have never built a company before. We’ve done it many times and can guide you through everything from corporate structure to fundraising to clinical development strategy.

Raven’s team includes experienced operators who have successfully navigated drug development, regulatory pathways, and commercialization. We know firsthand the challenges of biomedical innovation, and we’ve built tools and expertise to help others overcome them.

Raven and TechAtlas work together to identify unmet needs, evaluate opportunities, and optimize company strategies.

Opportunity identification: TechAtlas maps therapeutic landscapes and identifies gaps where innovation could transform treatment. These maps highlight where compelling company-building opportunities exist.

Target and indication selection: For platform companies, TechAtlas analyses help identify which targets and indications offer the best strategic positioning and value creation potential.

Asset evaluation: When considering in-licensing underleveraged pharma assets, TechAtlas provides competitive context and market analysis to assess opportunity size.

Portfolio company support: TechAtlas helps Raven operators and companies focus their efforts in promising territories and inform strategic decisions and positioning.

This collaboration ensures Raven builds companies around scientifically compelling opportunities in areas where we have deep domain expertise.

Raven’s Condor team looks for molecules with solid scientific rationale and clinical data that have been deprioritized for strategic rather than scientific reasons. Often these are assets that:

• Don’t fit a big pharma’s therapeutic area focus
• Have market potential that’s significant but modest relative to blockbuster expectations
• Require development approaches or patient populations that don’t align with current capabilities
• Sit in orphan or rare disease spaces where big pharma lacks infrastructure

TechAtlas helps Condor identify these opportunities by mapping competitive landscapes and spotting where effective molecules are underutilized. We then evaluate whether we can build a company that’s properly sized and focused to maximize the asset’s potential.

The best opportunities for the Condor team to unlock value typically have:

• Proof-of-concept clinical data showing the mechanism works
• Clear patient populations who would benefit
• Intellectual property that’s protectable
• Development pathways that are well-understood
• Strategic misalignment with the current owner (not scientific failure)

Raven provides comprehensive company-building support, including:

• Corporate infrastructure: Formation, governance, finance, legal, HR, and operational systems
• Team building: Recruiting founding teams, scientific advisors, and executives
• Capital strategy: Fundraising planning, investor introductions, and financing execution
• Blackbird scientific and clinical development: Study design; clinical trial recruitment, innovation, engagement, and optimization; regulatory strategy; CMC support; CRO management; and data analysis
• Strategic positioning: Competitive intelligence, indication selection, and partnership strategy
• Operational execution: Project management, vendor relationships, and day-to-day problem-solving

Essentially Raven provides everything you need to go from concept to operating company. You can think of Raven as a company-building platform that provides both capital and capabilities. We’re builders who help other builders succeed.

Absolutely. Some of Raven’s best companies started as conversations with scientists who had compelling ideas but hadn’t formed entities yet. If you have strong science, a clear therapeutic rationale, and some preliminary data or proof-of-concept, we want to hear from you.

Email us at request@​racap.​com with:

• Your scientific concept and mechanism
• The indication or patient population you’re targeting
• What data or evidence you have (even if preliminary)
• Why you think this could be transformative
• Your background and why you’re the right person to pursue this

We’ll determine together whether it makes sense to build a company. Sometimes that means forming a new entity around your idea. Other times it might mean connecting you with an existing Raven portfolio company that could benefit from your insights.

The key is having compelling science and a credible path to meaningful patient impact. We can help with everything else.

Yes. RA Capital’s TechAtlas is a platform for drug hunting and company formation. See Raven Company Building above, or reach out to request@​racap.​com to discuss how we might collaborate.