MPM Capital secures $400M to finance innovative biotech startups
Category: #health  By Mateen Dalal  Date: 2019-02-25
  • share
  • Twitter
  • Facebook
  • LinkedIn

MPM Capital secures $400M to finance innovative biotech startups

The fund would reportedly contribute toward disruptive scientific developments across a spate of therapeutic areas such as immunology, oncology, and neurosciences.

Life-sciences venture capital firm MPM Capital has reportedly closed its seventh venture fund round by raising investment worth $400 million. As per trusted sources, as a part of BioVentures 2018, the Cambridge and Brisbane-based firm will continue creating and investing in innovative companies committed to developing breakthrough therapies for the treatment of unmet medical needs.

The fund would aid disruptive scientific developments in an array of therapeutic areas like immunology, oncology, neurosciences as well as evolving modalities of gene, cell, and nucleic acid therapies, cited credible sources.

MPM is run by Ansbert Gadicke, M.D, Managing Director and Co-Founder at MPM and Luke Evnin, Ph.D. also Co-Founder and Managing Director at MPM, and invests more than $1 billion in capital across three vehicles which are venture capital fund BV2018, oncology-only crossover fund, and oncology-based initiative with Dana-Farber Cancer Institute, reported sources familiar with the investor.

Sources claim that at the core of MPM Capital’s building-strategy is a team made up of fifteen Executive Partners working closely with the investment team to collectively embrace entrepreneurship, scientific creativity, business and financials insights. The Executive Partner team reportedly comprises senior biopharma leaders who possess decades of experience in drug discovery, commercialization, and clinical development.

For the record, MPM Capital’s team works collaboratively on all aspects of company building, right from recognizing and evaluating new opportunities to establishing companies and assuming senior leadership positions across the portfolio. Recent examples of firms founded and managed by MPM Capital are Harpoon Therapeutics and TCR2 Therapeutics both of which have concluded IPOs recently. Another set of companies include Potenza and Mitobridge Therapeutics, which were recently acquired by MPM. The firm has raised capital worth $3.9 billion since its opening fund in 1997, reported sources.        

  • share
  • Twitter
  • Facebook
  • LinkedIn


About Author

Mateen Dalal    

Mateen Dalal

A qualified electronics and telecommunication engineer, Mateen Dalal embarked on his professional journey working as a quality and test engineer. Harnessing his passion for content creation however, Mateen pens down industry-rich articles for ReportsGO.com and a few o...

Read More

More News By Mateen Dalal

AstraZeneca to present results of Farxiga’s DAPA-CKD trial at ESC 2020
AstraZeneca to present results of Farxiga’s DAPA-CKD trial at ESC 2020
By Mateen Dalal

According to reliable sources, British-Swedish multinational pharmaceutical company AstraZeneca plc will present the much awaited results of the Phase III DAPA-CKD trial of Farxiga in CKD (chronic kidney disease) at ESC Congress 2020. Sources with r...

FDA grants Emergency Use Authorization to Abbott’s COVID-19 antigen
FDA grants Emergency Use Authorization to Abbott’s COVID-19 antigen
By Mateen Dalal

Abbott Laboratories, a U.S.-based medical devices and healthcare firm, has reportedly received the Emergency Use Authorization (EUA) from the U.S. FDA (Food and Drug Administration) for the detecting COVID-19 virus with its portable antigen test Bina...

Hyundai Wia Corp. signs gun parts export contract with BAE Systems
Hyundai Wia Corp. signs gun parts export contract with BAE Systems
By Mateen Dalal

Hyundai Wia Corp., a South Korea-based defense firm, has reportedly signed gun parts export contract with BAE Systems plc of worth USD 100 million via a pre-value accumulation system. As per the agreement, Hyundai Wia will supply over 106 types of gu...