The biotech incubator said Wednesday the majority of the fund will be for clinical proof-of-concept studies, bringing the total funds raised by Curie.Bio to nearly $1 billion.
Biotech incubator Curie.Bio has closed $380 million for its latest fund to support startup companies on the path to the clinic. The pro rata Series A fund announced on Wednesday now brings the total funds raised by Curie.Bio to nearly $1 billion.
Launched with $520 million in early 2023 by Alexis Borisy, Zach Weingberg and Christoph Lengauer, the biotech VC’s vision is to “free the founders” to support early startups from ground zero through Series A funding. That’s what the firm’s latest raise is earmarked for—Series A investments in companies in their accelerator headed to clinical proof-of-concept studies.
Curie.Bio aims to offer what it contends is the right balance between providing support to new companies without taking control. Its 50-person team, which includes drug hunters and biotech operators, is designed to provide expertise to small companies who potentially can’t afford to hire that type of talent. The accelerator typically offers biotechs between $7 million and $12 million in seed funds. Its initial raise in February 2023 included investment from GV, ARCH Venture Partners and Leaps by Bayer.
Currently, Curie.Bio has 20 early-stage companies in its portfolio that meet the stated requirement of having an asset or a platform with blockbuster potential—breaking the billion-dollar mark for sales. Modalities include small molecules, antibodies, peptides, degraders, antibody-drug conjugates and gene therapies across a wide range of therapeutic areas.
Forward Therapeutics, Curie.Bio’s first portfolio company, went from startup to clinic-ready in less than 18 months. The biopharma had a successful $50 million Series A raise in November 2023 for clinical development of its small molecule therapies targeting chronic immunological and inflammatory disorders.
STAT News reported Wednesday that the Curie.Bio founders intend to bring 15 to 20 new companies into the fold annually and anticipate raising a new investment fund in about a year.
Kate Goodwin is a freelance life science writer based in Des Moines, Iowa. She can be reached at kate.goodwin@biospace.com and on LinkedIn.
