Longwood Fund Announces $170 Million in Fund V-Related Commitments

Longwood Fund builds on decades of creating leading biotechs with multiple approved drugs

BOSTON--(BUSINESS WIRE)-- Longwood Fund, an early stage venture capital firm creating and investing in science-based companies that develop novel solutions to treat important unmet medical needs, today announced the closing of its fifth fund with approximately $170 million in total capital commitmentsⁱ. Longwood Fund will continue to focus on creating new companies, as well as investing in the first institutional rounds of established companies, that have platforms to deliver therapeutics and medical solutions that advance science and transform healthcare.

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Christoph Westphal, MD, PhD, General Partner at Longwood Fund (Photo: Business Wire)

“We are grateful to our investors for their support of our Longwood Fund team and fifth fund. The opportunity to help create transformative therapies for patients in need is what drives us each day as we help to translate great scientific innovation into important new drugs,” said Christoph Westphal, MD, PhD, General Partner at Longwood Fund. “We continue to employ a consistent strategy, with a fund size optimized for a focused portfolio where we co-found and invest in companies with strong syndicate partners. Our extensive company-creation and operating experiences, coupled with a broad network, allows us to add demonstrable value to our companies which have over 20 launched or marketed drugs and therapies, as well as over two dozen clinical stage assets, all focused on helping patients in need.”

Founded in 2010, Longwood Fund has now raised over $475 million across five funds, creating and investing in promising biotech and therapeutics companies. Companies founded by Longwood Fund (or its principals prior to the founding of the Firm) as lead investor and CEO/CBO include Vertex, Acceleron, Momenta, Alnylam, Sirtris, TScan, Pyxis Oncology and Immunitas. Established companies where Longwood Fund has been an early-stage investor include Mitobridge, Channel Medsystems, 28-7 Therapeutics, Pulmocide, Bicycle Therapeutics, Sitryx Therapeutics and ArcherDX. In aggregate, these companies have launched over 20 breakthrough medicines to help patients in need.

Since the Firm’s founding, Longwood Fund, and its principals, have been active in co-founding leading biotechs serving in company leadership roles as well as lead investor, and anticipates being part of the co-founding team of at least half of the Fund V companies.

“At Longwood, our portfolio companies’ success is inextricably linked to our focus on connecting outstanding scientists and researchers from leading academic and medical institutions with experienced and successful entrepreneurs,” said David Steinberg, General Partner at Longwood Fund. “It’s a privilege to work with a team with decades of collective experience to build leading biotech companies.”

Alongside Longwood Fund’s General Partners Christoph Westphal, David Steinberg and Rich Aldrich, and CFO John Lawrence, the Firm has a strong team of Principals, Entrepreneurs-in-Residence and Venture Partners to support its efforts.

About Longwood Fund

Longwood Fund is a venture capital firm dedicated to creating and investing in novel healthcare companies that develop important treatments to help patients while targeting significant value for investors. The Longwood team has a long history of successfully launching and building important life science companies while providing operational leadership and strategic guidance. Companies founded by Longwood Fund (or its principals prior to the founding of the Firm) as lead investor and CEO/CBO include Vertex, Acceleron, Momenta, Alnylam, Sirtris, TScan, Pyxis Oncology and Immunitas. Collectively, the Partners at Longwood Fund have co-founded 18 companies, with nearly two dozen additional early-stage company investments. These companies have over 20 launched or marketed drugs and therapies, as well as over two dozen clinical stage assets, all focused on helping patients in need. For more information, visit www.longwoodfund.com.

ⁱ Includes commitments to Longwood Fund V, L.P. as well as two related incubator funds.

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