Alta Partners Raise $130 Million Venture Capital for Biotech Development

June 14, 2018  Source: FierceBiotech 203

San Francisco based Healthcare venture capital firm Alta Partners has launched funds titled as Alta Partner NextGen Fund I. The new fund will focus on the new development of therapeutics and health technology services. This will be the 9th fund in Alta Partners firms History.

Peter Hudson, the Founding partner, said "We are aiming next generation, enabling technology healthcare solutions. We see data and technology accelerating innovation in all sectors of healthcare delivery, permitting patients and provider engagement that will do the tremendous planning and drive unparalleled value.”

The initial investments included antibody-developer Vir Biotechnology, Allakos; eGenesis, and DispatchHealth a mobile and virtual healthcare company.

Vir Biotechnology, which aims at immune programming to develop new drugs and vaccines, has raised at least $500 million for its research. The company also focusing on advances in the treatments for infectious diseases.

Last month 2017, Allakos, an Anti-Body developer raised $100 million in a financing round; it plans to advance its antibody pipeline into later-phase clinical trials in proliferative breast diseases and allergenic inflammatory.

eGenesis, focused in gene editing and xenotransplantation, bagged $38 million in a series A round to develop CRISPR technology to advance pig organs to use in transplants.

By Ddu