For purposes of this brochure, “MPM” or the “Adviser” means collectively MPM Asset Management LLC, a Delaware limited liability company, and BioImpact Capital LLC, a Delaware limited liability company, together (where the context permits) with their affiliated general partners of the Funds (each a “General Partner”) and other affiliates that provide advisory services to and/or receive advisory fees from the Funds. Such affiliates may or may not be under common control with MPM, but possess a substantial identity of personnel and/or equity owners with MPM. These affiliates may be formed for tax, regulatory or other purposes in connection with the organization of the Funds, or may serve as General Partners of the Funds. The Adviser provides investment supervisory services to investment vehicles, including pooled investment vehicles and separately managed accounts either advised directly or through a sub- adviser arrangement (together with any investment vehicles advised by the Adviser in the future, each, a Fund and collectively, the “Funds”) that are exempt from registration under the Investment Company Act of 1940, as amended (the “1940 Act”) and whose securities are not registered under the Securities Act of 1933, as amended (the “Securities Act”). The Adviser utilizes three distinct strategies to manage the Funds, which are: “Venture Funds”, “Hybrid Funds”, and “Hedge Funds” (each of which is described below). Additionally, certain Funds co-invest alongside other Funds and typically have one strategic investor (each, a “Strategic Fund” and collectively, the “Strategic Funds”). Venture Funds The Venture Funds make long-term venture capital investments in privately-held companies. In accordance with the Funds’ respective investment objectives, investments are generally made in companies doing business in the biotechnology sector. Hybrid Funds The Hybrid Funds make long-term venture capital investments in privately-held companies and investments in publicly traded companies. In accordance with the Hybrid Funds’ respective investment objectives, investments are generally made in companies doing business in the biotechnology sector. The Hybrid Funds also typically have a philanthropic component. Hedge Funds The Hedge Funds are specifically focused on small

and mid-cap segments of the healthcare industry with investments primarily in public companies in the biotechnology, pharmaceutical/specialty pharmaceutical, medical technology, and diagnostics sectors. These Hedge Funds may also invest in the life science tools, lab services, contract research organization, robotics, healthcare IT, hospital supply/equipment, payer, hospital, and distribution sectors as well. The Adviser’s advisory services consist of investigating, identifying, and evaluating investment opportunities, structuring, negotiating, and making investments on behalf of the Funds, managing and monitoring the performance of such investments, and disposing of such investments. The Adviser or an affiliated entity may serve as the investment adviser or General Partner to the Funds in order to provide such services. The Adviser provides investment supervisory services to each Fund in accordance with the limited partnership agreement (or analogous organizational document) of such Fund or separate investment and advisory, investment management or portfolio management agreements (each, an “Advisory Agreement”). Investment advice is provided directly to the Funds, subject to the discretion and control of the applicable General Partner or board of directors to the respective Fund, and not individually to the investors in the Funds. Services are provided to the Funds in accordance with the Advisory Agreements with the Funds and/or organizational documents of the applicable Fund. Investment restrictions for the Funds, if any, are generally established in the organizational or offering documents of the applicable Fund, Advisory Agreements and/or side letter agreements negotiated with investors in the applicable Fund (such documents collectively, a Fund’s “Organizational Documents”). The controlling owner of both MPM Asset Management LLC and BioImpact Capital LLC is Ansbert Gadicke. Luke Evnin and Christiana Bardon also have ownership interests in MPM Asset Management LLC and BioImpact Capital LLC, respectively. MPM Asset Management LLC has been in business since 1997. As of December 31, 2022, the Adviser manages a total of $3,354,083,083 of client assets, all of which is managed on a discretionary basis. The Adviser does not manage assets on a non-discretionary basis.