Foresite Capital Raises $173 Million Fund to Fund Life Science Companies

SAN FRANCISCO &&num;8212&semi; Foresite Capital, a multi-stage healthcare and life sciences investment firm, has raised a &dollar;173 million fund to invest in companies launched by Foresite Labs&period;&NewLine;Foresite Labs companies will also continue to be supported from Foresite Capital Fund V and its associated opportunities fund&period; The fund comes on the heels of several major milestones for Foresite Capital including the announcement of its &dollar;969 million Fund V and investments in Foresite Labs incubated companies Interline Therapeutics, Alumis and TenSixteen Bio&period;&NewLine;&nbsp&semi;&NewLine;Foresite Labs was created in October 2019 to found, build and scale life sciences companies at the intersection of healthcare and data science&period; One of Foresite Capital’s core beliefs is that by combining machine learning, big data and genomics, life sciences companies can accelerate commercialization from decades to years&period; Foresite Labs was founded to provide expanded capabilities in company creation&period;&NewLine;&OpenCurlyDoubleQuote;Technological breakthroughs in genomics and data science are creating opportunities to drive significant transformation of the healthcare industry,” explained Dr&period; Vikram Bajaj, CEO of Foresite Labs&period; &OpenCurlyDoubleQuote;We believe the companies we’re creating can help solve many of the problems the industry faces, and this additional capital will help us do that&period;”&NewLine;The Foresite Labs team is led by Foresite Capital managing director, Dr&period; Vik Bajaj, who is the former chief scientific officer of GRAIL and was the co-founder and chief scientific officer of Verily (formerly Google Life Sciences)&period; The firm utilizes its data science platform to launch and support next-generation therapeutics and healthcare services companies to ultimately improve patient outcomes&period; Foresite Labs has announced the launch of five companies, and is incubating several additional concepts&period;&NewLine;&OpenCurlyDoubleQuote;This fund represents strong affirmation of the potential of the companies being built within Foresite Labs,” explained Jim Tananbaum, founder and CEO of Foresite Capital&period; &OpenCurlyDoubleQuote;Recently launched companies like Interline Therapeutics, Alumis, Sestina Bio and TenSixteen Bio have the potential to deliver life-saving healthcare solutions in just a few short years through the power of the Foresite Labs platform&period;”&NewLine;The &dollar;173 million fund was oversubscribed from its initial &dollar;150 million target&period;&NewLine;

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