Fierce Biotech April 24, 2024
If you asked an AI to generate a brand-new drug discovery biotech with a team of some of the biggest names in the biz for you, it couldn’t dream up one like Xaira Therapeutics.
The company emerged Tuesday with $1 billion in committed funding—that’s billion with a B—incubated by Arch Venture Partners and Foresite Labs with none other than Marc Tessier-Lavigne, Ph.D., former chief scientific officer at Genentech, at the helm.
Beyond the two incubators, the financing included F-Prime, NEA, Sequoia Capital, Lux Capital, Lightspeed Venture Partners and others.
“This creates an enormous opportunity for us to rethink drug discovery entirely. For this reason, Xaira is the largest initial funding commitment in ARCH history,” said Robert Nelsen, Arch Venture Partners’...
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