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Laxman Pai, Opalesque Asia: Venture capital biotech player Foresite Capital has locked down $900 million for its latest vehicle.
Foresite Capital Fund VI marks the largest single-fund raise for the multi-stage healthcare and life sciences investment firm. It comes as top biotech startups have shaken off high interest rates to maintain attractive valuations-with eyes on a crop of promising IPOs on the 2024 docket.
According to a media release from the California-based firm, with this new fund, it continues to invest in groundbreaking technologies, ranging from novel therapeutics to companies at the intersection of technology and biotechnology.
"Fund VI is deploying capital into what I believe is one of the best biotech investment environments of my career," said Jim Tananbaum, founder and CEO of Foresite Capital.
"Advances in biology, genomics, and artificial intelligence continue to converge. Biotech innovation is predicting, preventing, and treating disease more effectively than ever before. We believe these advances will lead to increasingly efficient investing at all stages," Jim added.
Fund VI is investing in innovative, growth-oriented companies in three main areas: precision therapeutics, life science infrastructure, and healthcare delivery, including Alumis, CG Oncology, Latigo, RayThera, and Xaira Therapeutics.
Limited partners of Fund VI include a broad range of investors, among them university endowments, charitable foundations, medica...................... To view our full article Click here
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