Generate:Biomedicines Announces Close Of $273M Series C Financing To Advance Its Generative Ai Pipeline Of Preclinical And Clinical Protein Therapeutics

Sep 14, 2023•almost 2 years ago

Amount Raised

$273 Million

Round Type

series c

Somerville

Investors

March CapitalArch Venture PartnersT. Rowe Price Associates, Inc.Fidelity Management & Research CompanyFlagship PioneeringPictet Alternative AdvisorsMaps CapitalN VenturesAmgen

Description

Generate:Biomedicines, a clinical-stage biotherapeutics company pioneering a machine-learning-powered generative biology platform, today announced that it has raised $273 million in Series C financing. This financing round attracted many new investors including Amgen; NVentures, NVIDIA’s venture capital arm; MAPS Capital (Mirae Asset Group); and Pictet Alternative Advisors. Additionally, company founder, Flagship Pioneering, and every Series B investor, including a wholly-owned subsidiary of the Abu Dhabi Investment Authority (ADIA); Fidelity Management & Research Company; funds and accounts advised by T. Rowe Price Associates, Inc.; ARCH Venture Partners; and March Capital, participated in the round.

Company Information

Company

Generate:Biomedicines

Location

Somerville, Massachusetts, United States

About

Generate:Biomedicines is the first drug generation company pioneering a machine learning-powered generative biology platform with the ability to create new drugs on demand across a wide range of biologic modalities. The Generate Platform – which is a continuous loop to generate, build, measure, and learn – can drastically increase the speed at which targets and therapeutics are identified and validated. This will improve the specificity of target engagement by generated proteins and reduce the time and cost of identifying and developing clinical candidates. Generate:Biomedicines is a clinical stage company that was founded by Flagship Pioneering after two years of foundational research in its Labs unit and launched in 2020. Learn more about Generate:Biomedicines by visiting https://generatebiomedicines.com/ or following the company on Twitter and LinkedIn.

Related People

Funding Insights

Based on industry data

VC-backed spending patterns

VC-backed companies spend 89% more on sales and 100% more on marketing than bootstrapped peers

Tech investment trends

83% of B2B companies plan digital investments, with 79% prioritizing customer experience tech