J.P. Morgan Life Sciences Private Capital Hires Joseph Siletto to Target Investments in Healthcare Transformation

Rhea-AI Summary

J.P. Morgan Private Capital has announced the appointment of Joseph Siletto as Co-Managing Partner in their Life Sciences Private Capital division. Siletto, previously with Vivo Capital, will work alongside Anya Schiess and Gaurav Gupta, focusing on investments in healthcare companies from Series B to pre-IPO stages. The team will target sectors like biotechnology, medical devices, health tech, and diagnostics. With over 25 years of experience, Siletto aims to leverage J.P. Morgan's resources to identify innovative healthcare opportunities that improve disease treatment and patient outcomes.

Positive

• Joseph Siletto brings over 25 years of experience in private healthcare investments.
• The expanded team will focus on transformative healthcare investments, potentially enhancing disease treatment and patient outcomes.
• J.P. Morgan's broadened platform aims to leverage biotechnology and AI advances, potentially giving them a significant sourcing advantage.

Negative

• Potential challenges in integrating new leadership dynamics could impact investment strategies.
• Market risks associated with investing in cutting-edge technology and early-stage companies may increase volatility.

Mr. Siletto joins from Vivo Capital as Co-Managing Partner

NEW YORK, July 11, 2024 /PRNewswire/ -- J.P. Morgan Private Capital, a venture and growth equity investment team within J.P. Morgan Asset Management Alternatives, today announced its next phase of growth with the hiring of industry veteran Joseph Siletto as a new Managing Partner alongside Anya Schiess and Gaurav Gupta, M.D., M.S.E, reporting to Stephen Squinto, Ph.D. The expanded team will look to invest in Series B through pre-IPO stage healthcare companies, specifically within the biotechnology, medical devices, health technology and services, and diagnostics and tools subsectors.

"I'm delighted to join the globally esteemed team at J.P. Morgan Life Sciences Private Capital," said Joseph Siletto, Managing Partner, J.P. Morgan Life Sciences Private Capital. "As part of a world-class investment team, I'm looking forward to leveraging J.P. Morgan's existing presence in the healthcare sector that we believe will give us a significant sourcing advantage as we seek to identify innovative and transformative healthcare companies."

Based in Boston, Mr. Siletto has over 25 years of experience investing in the private healthcare space and most recently was Managing Director at Vivo Capital. Prior to this role, he co-founded Scion Medical Technologies.

The expanded platform will look to finance opportunities that aim to enhance disease treatment and patient outcomes while reducing costs through several key initiatives, including but not limited to: supporting innovative treatment methods, utilizing cutting-edge technology, applying increased computing power with artificial intelligence to develop more impactful treatments, improving diagnostic tools for earlier disease detection and prevention, and delivering healthcare solutions to patients in a more cost effective way.

"As advances in biotechnology and artificial intelligence continue to transform the healthcare industry, our expanded team should allow us to take advantage of this transition, and remain a preferred partner for companies looking to implement innovative ways to treat, identify and prevent disease," said Anya Schiess, Managing Partner, J.P. Morgan Life Sciences Private Capital. 

Biography

Joseph Siletto is Co-Managing Partner of Life Sciences Private Capital ("LSPC") within J.P. Morgan Private Capital, a division of J.P. Morgan Global Alternatives in J.P. Morgan Asset Management. Joseph joined from Vivo Capital in 2024. While at Vivo, Joseph focused on sourcing investments, executing transactions and serving on the board of directors for growth and private equity companies. Over his time with the firm, he sourced and served on the board of over 10 companies. In addition to his investment and board responsibilities, Joseph also took an active operations role within several portfolio companies. Prior to his time at Vivo, Joseph created the business plan and was the co-founder for Scion Medical Technologies, a company which completed a half dozen acquisitions to build a global, commercial medical device portfolio focused on interventional oncology. Scion was ultimately sold to NYSE-listed Varian Medial and is now part of Siemens. Prior to his time as an entrepreneur and investor, Joseph was an investment banker for Cowen & Company and Banc of America Securities focused on healthcare M&A and capital raising. Joseph has a Bachelor of Arts from Duke University and an MBA from the Haas School of Business at the University of California at Berkeley.

About J.P. Morgan Private Capital

J.P. Morgan Private Capital provides customized financing solutions for private companies across the capital structure with a focus on venture and growth investing. The platform's solutions span the consumer, technology, and life sciences sectors.

J.P. Morgan Private Capital is part of J.P. Morgan Global Alternatives, the alternative investment arm of J.P. Morgan Asset Management. With over 60 years of experience in managing alternative investments, $214 billion in assets under management and over 800 professionals (as of March 31, 2024), its strategies cover the full spectrum of alternatives: real estate, private equity, private credit, liquid alternative products, infrastructure, transport, hedge funds and forestry. From the Americas, Europe and Asia, independent alternative investment teams combine their cutting-edge expertise with J.P. Morgan's resources, infrastructure and global reach to achieve each client's specific objectives. For more information : jpmorgan.com/am  

About J.P. Morgan Asset Management

J.P. Morgan Asset Management, with assets under management of $3.2 trillion (as of 3/31/2024), is a global leader in investment management. J.P. Morgan Asset Management's clients include institutions, retail investors and high net worth individuals in every major market throughout the world. J.P. Morgan Asset Management offers global investment management in equities, fixed income, real estate, hedge funds, private equity and liquidity. For more information: www.jpmorganassetmanagement.com. J.P. Morgan Asset Management is the marketing name for the asset management businesses of JPMorgan Chase & Co., and its affiliates worldwide.

JPMorgan Chase & Co. (NYSE: JPM) is a leading financial services firm based in the United States of America ("U.S."), with operations worldwide. JPMorgan Chase had $4.1 trillion in assets and $337 billion in stockholders' equity as of March 31, 2024. The Firm is a leader in investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing and asset management. Under the J.P. Morgan and Chase brands, the Firm serves millions of customers in the U.S., and many of the world's most prominent corporate, institutional and government clients globally. Information about JPMorgan Chase & Co. is available at www.jpmorganchase.com.

J.P. Morgan Life Sciences team members' past investing and operating experience is provided solely in order to illustrate the nature of their professional experience with respect to the types of investments and transactions that JPM intends to pursue and is not indicative of JPM's future results and should not be understood as JPM's "track record" information or be relied upon in connection with any investment or other related decision.

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SOURCE J.P. Morgan Asset Management

FAQ

Who is the new Co-Managing Partner at J.P. Morgan Life Sciences Private Capital?

Joseph Siletto has been appointed as the new Co-Managing Partner at J.P. Morgan Life Sciences Private Capital.

What is the focus of J.P. Morgan Life Sciences Private Capital under Joseph Siletto?

The focus is on investing in healthcare companies from Series B to pre-IPO stages, specifically in biotechnology, medical devices, health tech, and diagnostics.

What experience does Joseph Siletto bring to J.P. Morgan Life Sciences Private Capital?

Joseph Siletto has over 25 years of experience in private healthcare investments, including roles at Vivo Capital and Scion Medical Technologies.

How might Joseph Siletto's appointment impact J.P. Morgan's investment strategy?

Siletto's extensive experience and J.P. Morgan's resources may enhance their ability to identify innovative healthcare opportunities and improve patient outcomes.