Enterprise capital agency SR One has closed a new $600 million fund, exceeding the goal it set by $100 million.
The brand new fund introduced Monday is SR One’s second since spinning out of GSK to turn into an unbiased funding agency. Traders within the agency’s new fund embody endowments, foundations, pharmaceutical firms, pension funds, sovereign wealth funds, and household places of work.
SR One was based in 1985 as the company enterprise arm of GSK, with members of its crew positioned in each the U.S. and the U.Ok. In late 2020, SR One accomplished its spinoff from the British pharmaceutical big and introduced the shut of its first fund, totaling $500 million. GSK was the most important investor in that fund, which deployed its money to biotech firms within the U.S. and Europe. The agency says it has invested in additional than 20 firms on either side of the Atlantic. Its portfolio firms embody most cancers and immunology biotech Odyssey Therapeutics and most cancers drug developer Rezo Therapeutics.
With the second fund, SR One says it should proceed to put money into biotech firms which have the potential to deal with vital gaps in present remedy. The agency, which is predicated in Redwood Metropolis, California, and has extra places of work within the Philadelphia space and London, says its property below administration now high $1.5 billion.
“SR One’s mannequin is constructed upon lively collaboration and our means to roll up our sleeves and assist construct worth via a number of inflection factors,” Simeon George, SR One co-founder and CEO stated in a ready assertion. “We search to accomplice with entrepreneurs constructing elite biotechnology firms, and we sit up for the potential improvement of recent medicines for sufferers that Fund II could assist convey to the market.”
Photograph: Abscent84, Getty Pictures
