Perceptive Advisors Healthcare and biotech specialist Perceptive Advisors has raised four SPACs, and completed three deals. The firm's chief investment officer Adam Stone walked Insider through their SPAC strategy. The firm has taken Immatics, Cerevel Therapeutics, and Nautilus Biotechnology public via SPACs. Compared to the average SPAC sponsor, Perceptive Advisors' track record has been phenomenal. Less than a third of SPACs that took a target company public between 2015 and the summer of 2020 generated positive returns, according to Greenwich-based investment bank Renaissance Capital, yet Perceptive has seen gains so far for the three private companies it has taken public in the last 12 months: German-based biotech firm Immatics, Pfizer spinoff Cerevel Therapeutics, and biotech firm Nautilus.