Regeneron Ventures is a health care venture capital fund launched in April of 2024. Our purpose is to invest wisely to help build and grow companies that become great by improving health. Although we operate independently from our single and exclusive limited partner, Regeneron Pharmaceuticals, Inc., we share the same patient-centric, science-based mission, principles, and values. Our investment mandate includes health care broadly, but our interest is skewed towards biotechnology, devices, tools, and enabling technologies. We base our investment decisions on the quality of the people, science, and data. We like breakthrough innovation. We tolerate risk and uncertainty. We are open-minded. We doubt and question. We recognize that companies are idiosyncratic, if not unique, and should follow their own path. Our aim is to help portfolio companies turn great ideas into great products that do great things for patients. Success in that mission is what will drive our investment results.