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

<p><strong>SAN FRANCISCO<&sol;strong> &&num;8212&semi; Foresite Capital&comma; a multi-stage healthcare and life sciences investment firm&comma; has raised a &dollar;173 million fund to invest in companies launched by Foresite Labs&period;<&sol;p>&NewLine;<p>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&comma; Alumis and TenSixteen Bio&period;<&sol;p>&NewLine;<p>&nbsp&semi;<&sol;p>&NewLine;<p>Foresite Labs was created in October 2019 to found&comma; 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&comma; big data and genomics&comma; life sciences companies can accelerate commercialization from decades to years&period; Foresite Labs was founded to provide expanded capabilities in company creation&period;<&sol;p>&NewLine;<p>&OpenCurlyDoubleQuote;Technological breakthroughs in genomics and data science are creating opportunities to drive significant transformation of the healthcare industry&comma;” explained Dr&period; Vikram Bajaj&comma; CEO of Foresite Labs&period; &OpenCurlyDoubleQuote;We believe the companies we’re creating can help solve many of the problems the industry faces&comma; and this additional capital will help us do that&period;”<&sol;p>&NewLine;<p>The Foresite Labs team is led by Foresite Capital managing director&comma; Dr&period; Vik Bajaj&comma; who is the former chief scientific officer of GRAIL and was the co-founder and chief scientific officer of Verily &lpar;formerly Google Life Sciences&rpar;&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&comma; and is incubating several additional concepts&period;<&sol;p>&NewLine;<p>&OpenCurlyDoubleQuote;This fund represents strong affirmation of the potential of the companies being built within Foresite Labs&comma;” explained Jim Tananbaum&comma; founder and CEO of Foresite Capital&period; &OpenCurlyDoubleQuote;Recently launched companies like Interline Therapeutics&comma; Alumis&comma; 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;”<&sol;p>&NewLine;<p>The &dollar;173 million fund was oversubscribed from its initial &dollar;150 million target&period;<&sol;p>&NewLine;