Frazier Life Sciences Management L.P. purchased 7,614,836 shares of Achieve Life Sciences. This investment establishes a 7.40% ownership position in the biopharmaceutical company. The stake is valued at approximately $49.7 million according to a SEC Form 13F filing.
Achieve Life Sciences now represents the 19th largest holding in the Frazier Life Sciences portfolio. The company is currently developing cytisinicline, an investigational treatment for nicotine dependence. This investment from a specialized fund validates the clinical and commercial prospects of the treatment.