BridgeBio Pharma, a US-based developer of treatments for genetic diseases, raised approximately $299m in funding yesterday from investors including insurance and financial services group AIG.
KKR and Viking Global Investors co-led the round, which also featured Perceptive Advisors, Aisling Capital, Cormorant Capital, Sequoia Capital, Hercules Capital and an undisclosed participant described as a “blue-chip long-term investor”.
Founded in 2015, BridgeBio looks to develop scientific research conducted at pharmaceutical research groups, universities, academic medical centres into medicines that target genetic diseases in areas like oncology, cardiology, neurology, genetic dermatology, endocrinology, ophthalmology and renal disease.
The company has a pipeline of more than 15 assets, each of which have already been allocated to an individual company, and four of which are near to pivotal clinical trials. It intends to invest the funding in research and development activities.
Neil Kumar, co-founder and CEO of BridgeBio, said: “We are privileged to be working with investors who believe in our goal of creating medicines for patients with genetic disease. We are aware that many of these patients lack effective treatment options, and we take our mission to help them seriously.
“The path from promising early-stage science to a drug that makes a difference for patients requires a long-term vision and steady commitment. We are fortunate to have our investors’ support as we develop these treatments.”
BridgeBio raised $6.6m from unnamed investors in 2015, according to a regulatory filing, before securing $135m in September 2017.
The 2017 round was also co-led by Viking Global Investors and KKR, and included AIG as well as Perceptive Advisors, Aisling Capital, Cormorant Capital and Janus Funds.
