MPM BioImpact Portfolio holdings
MPM BioImpact runs biotech venture, hybrid and hedge funds, and its impact funds put private and public money into companies aiming to change outcomes for patients with disease. Its hedge funds concentrate on small and mid-sized healthcare companies, while the firm as a whole combines MPM Capital's biotech venture capital record of more than 30 years with BioImpact's public investing. The firm was called MPM Oncology Impact Management until 2021 and BioImpact Capital until 2023. Ansbert Gadicke, its founder and managing partner, is also its controlling owner. Among its portfolio stories, it built the radiopharmaceutical company Aktis Oncology for solid tumors and was an early backer of argenx, an immunology company.
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Syndax Pharmaceuticals
SNDX
|
+$18M |
| 2 |
Soleno Therapeutics
SLNO
|
+$7.41M |
| 3 |
Sarepta Therapeutics
SRPT
|
+$6.74M |
| 4 |
Xenon Pharmaceuticals
XENE
|
+$6.34M |
| 5 |
Liquidia Corp
LQDA
|
+$4.34M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Guardant Health
GH
|
+$23M |
| 2 |
MoonLake Immunotherapeutics
MLTX
|
+$14.8M |
| 3 |
MBX Biosciences
MBX
|
+$14.8M |
| 4 |
Crinetics Pharmaceuticals
CRNX
|
+$12.3M |
| 5 |
Olema Oncology, Inc. Common Stock
OLMA
|
+$10.1M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 100% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
1
Madrigal Pharmaceuticals
MDGL
$9.9B
| $46.1M | 7.54% |
100,415
| – | – |
2025 Q1
2 quarters
|
|
2
Cullinan Oncology
CGEM
$667M
| $45.4M | 7.42% |
7,648,268
| – | – |
2021 Q1
18 quarters
|
|
|
RNAM
3
DELISTED
Avidity Biosciences
RNAM
| $33.1M | 5.42% |
760,022
| – | – |
2024 Q2
5 quarters
|
|
4
Trevi Therapeutics
TRVI
$1.95B
| $31.2M | 5.1% |
3,406,955
| – | – |
2024 Q1
6 quarters
|
|
5
Edgewise Therapeutics
EWTX
$5.03B
| $27.9M | 4.57% |
1,720,741
| – | – |
2024 Q1
6 quarters
|
|
6
PTC Therapeutics
PTCT
$5.3B
| $26.9M | 4.41% |
438,477
| – | – |
2024 Q3
4 quarters
|
|
7
Zai Lab
ZLAB
$3.07B
| $25.3M | 4.13% |
745,060
| – | – |
2024 Q4
3 quarters
|
|
|
8
Syndax Pharmaceuticals
SNDX
$851M
| $21.2M | 3.46% |
+1,375,674
| New | +$18M |
2025 Q3
0 quarters
|
|
9
Oric Pharmaceuticals
ORIC
$815M
| $20.8M | 3.4% |
1,729,378
| – | – |
2025 Q1
2 quarters
|
|
10
Tarsus Pharmaceuticals
TARS
$3.96B
| $20.3M | 3.32% |
341,496
| – | – |
2025 Q2
1 quarter
|
|
|
11
Xenon Pharmaceuticals
XENE
$3.98B
| $20.2M | 3.31% |
503,398
+180,000
| +56% | +$6.34M |
2024 Q3
4 quarters
|
|
12
Stoke Therapeutics
STOK
$1.75B
| $18.6M | 3.04% |
789,698
| – | – |
2024 Q3
4 quarters
|
|
13
Dyne Therapeutics
DYN
$3.22B
| $18.3M | 3% |
1,446,361
| – | – |
2025 Q2
1 quarter
|
|
14
Compass Therapeutics
CMPX
$139M
| $17.8M | 2.91% |
5,075,970
-546,535
| -10% | -$1.73M |
2024 Q1
6 quarters
|
|
15
Alkermes
ALKS
$7.9B
| $16.5M | 2.7% |
549,262
| – | – |
2025 Q1
2 quarters
|
|
16
Vera Therapeutics
VERA
$2.03B
| $16.4M | 2.68% |
563,075
| – | – |
2024 Q4
3 quarters
|
|
17
Natera
NTRA
$46.3B
| $15.9M | 2.61% |
98,924
| – | – |
2024 Q1
6 quarters
|
|
18
Janux Therapeutics
JANX
$696M
| $15M | 2.46% |
614,282
| – | – |
2024 Q3
4 quarters
|
|
19
Revolution Medicines
RVMD
$37.3B
| $14.7M | 2.41% |
315,722
| – | – |
2021 Q3
16 quarters
|
|
20
Context Therapeutics
CNTX
$16.6M
| $14.2M | 2.33% |
14,705,882
| – | – |
2024 Q4
3 quarters
|
|
|
21
Sarepta Therapeutics
SRPT
$1.72B
| $13.5M | 2.21% |
700,000
+378,304
| +118% | +$6.74M |
2025 Q2
1 quarter
|
|
22
ARS Pharmaceuticals
SPRY
$391M
| $13.1M | 2.14% |
1,303,399
| – | – |
2025 Q1
2 quarters
|
|
23
Rocket Pharmaceuticals
RCKT
$257M
| $12.7M | 2.08% |
3,903,381
+300
| +0% | +$945 |
2024 Q3
4 quarters
|
|
24
Relay Therapeutics
RLAY
$4B
| $11.9M | 1.95% |
2,282,680
| – | – |
2023 Q1
10 quarters
|
|
25
Ultragenyx Pharmaceutical
RARE
$1.64B
| $11.9M | 1.95% |
395,700
| – | – |
2024 Q1
6 quarters
|
|
Similar funds
MPM BioImpact's Q3 2025 Portfolio in Review
As of Q3 2025, MPM BioImpact held 51 positions worth $611M, up 5.8% from $577M the previous quarter. Its ten largest holdings account for 49% of the portfolio.
MPM BioImpact withdrew a net $56.3M in Q3 2025, closing 11 positions and reducing 2 holdings. Its most notable exit was Guardant Health, an estimated $23M position sold in full.
By sector, the portfolio is most concentrated in Healthcare at 100% of assets, unchanged from a quarter earlier.
Against the trend, MPM BioImpact opened a new position in Syndax Pharmaceuticals worth $21.2M.
- MPM BioImpact's largest Q3 2025 buy was Syndax Pharmaceuticals: 1,375,674 shares worth $21.2M.
- MPM BioImpact added most to Soleno Therapeutics in Q3 2025, an estimated $7.41M increase.
- MPM BioImpact's biggest Q3 2025 reduction was Cartesian Therapeutics, cutting an estimated $3.44M.
- MPM BioImpact fully exited Guardant Health in Q3 2025, selling an estimated $23M.
- MPM BioImpact's ten largest holdings make up 49% of its $611M portfolio in Q3 2025.
- MPM BioImpact opened 7 new positions and closed 11 in Q3 2025.
- MPM BioImpact's portfolio value rose 5.8% quarter-over-quarter to $611M.
Based on MPM BioImpact's 13F filing for Q3 2025, filed 14 Nov 2025.