BioPharma Dive June 29, 2022
Dive Brief:
- Venture capital firm Arch Venture Partners has closed its largest-ever fund, raising $3 billion to create and support early-stage biotechnology companies.
- Arch’s fund, its 12th, follows record hauls from other biotech investors like Third Rock Ventures and Atlas Venture. This fresh funding has come in the midst of a historic downturn in the biotech stock market that’s led dozens of companies to restructure and made it more difficult for young drugmakers to go public.
- “All the fundamental innovations in biotechnology are accelerating, with huge promise for new preventive, disease-modifying, and even curative treatments,” said Robert Nelsen, Arch’s co-founder and one of its managing directors, in a statement. “Science doesn’t care what markets are doing, and science moves...
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