Flagship pioneering work, The Boston-based biotech incubator and holding firm introduced that it had raised $ 1.1 billion for its flagship labs unit.
The flagship, which already raised $ 1 billion in progress autos in 2019 for funding autos, develops and operates startups that use improvements in biotechnology to supply items and providers that enhance human well being and promote sustainable industries.
"We’re honored to have the sturdy help of our current restricted companions and the curiosity of a choose group of recent restricted companions to help Flagship's distinctive type of firm formation throughout this era of unprecedented financial uncertainty," he mentioned Noubar Afeyan, the founder and CEO of Flagship Pioneering, in a press release.
Along with its earlier concentrate on well being and sustainability, Flagship will use the brand new funds to concentrate on new medication, synthetic intelligence and "well being safety". The corporate goals to “develop a spread of merchandise and therapies to enhance social well being by treating pre-disease circumstances earlier than they escalate,” mentioned Afeyan.
Flagship corporations are already on the forefront of healthcare efforts to cease the COVID-19 pandemic. The Moderna portfolio firm is likely one of the main corporations within the improvement of a vaccine in opposition to the novel coronavirus that causes COVID-19.
Within the 20 years since its inception, Flagship has 15 wholly owned corporations and an additional 26 progress corporations in its funding portfolio.
The brand new corporations embody: Senda Biosciences, Generate Biomedicines, Tessera Therapeutics, Cellarity, Cygnal Therapeutics, Ring Therapeutics and Integral Well being. The expansion corporations developed or supported by Flagship embody Ohana Biosciences, Kintai Therapeutics and Repertoire Immune Medicines.
Two of the businesses within the Flagship Labs portfolio have already gone public previously two years. Kaleido Biosciences and Axcella Well being raised public capital in 2019, and Moderna Therapeutics launched a second supply of $ 575 million earlier this 12 months.