Biotech startup incubator Curie.Bio has secured $380m in funding for its latest investment pool aimed at nurturing early-stage companies advancing towards clinical trials.

The fundraising round – which boosts Curie.Bio’s total funds raised to nearly $1bn – specifically targets Series A investments in companies within its accelerator programme, focusing on advancing companies towards clinical proof-of-concept studies.

The Massachusetts-based biotech investor launched with $520m in its pocket in February 2023, with investments from GV, ARCH Venture Partners, and Leaps by Bayer. The investor operates through two parts: one provides seed-stage funding to startups, while the other offers essential services to help advance scientific projects.

Amid macroeconomic pressures, private biotech venture financing saw a significant downturn in 2022 and 2023. During 2023, funding decreased by 43.2% compared to 2022 and by 52.3% compared to 2021, as investors became more cautious and focused on existing portfolios.

Curie.Bio was started by Alexis Borisy, Zach Weinberg, and Christoph Lengauer. When it launched last year, the founders highlighted that securing initial funding is scarce in the biotech startup landscape, compared to the tech industry. This requires biotech founders to retain control with minimal support or partner with investors for expertise but give up ownership. According to the fund, Curie.Bio is designed to support founder-led biotechs with extensive guidance beyond typical accelerators.

Curie.Bio initially supported Forward Therapeutics, Astoria Biologica, Decrypt Biomedicine and Differentiated Therapeutics; however, it now has 20 early-stage therapeutics companies under its belt.

Forward Therapeutics, Curie.Bio’s first portfolio company, raised $50m in a Series A funding round in November 2023, emerging with drug candidates that target chronic immunological and inflammatory disorders. The Florida-based biopharma progressed from startup to being ready for the clinic within 18 months.

However, there is renewed optimism according to GlobalData’s recent survey, The State of the Biopharmaceutical Industry 2024. It revealed that 44% of healthcare industry professionals surveyed globally are optimistic or very optimistic about the recovery of biotech funding in the next 12 months.

https://www.pharmaceutical-technology.com/news/biotech-fund-curie-bio-augments-reserves-with-380m-to-boost-startups/?cf-view