South San Francisco-based Allogene Therapeutics, a biotech company focused on cancer treatment, has secured an undisclosed amount of funding. The investor was Vida Ventures.
BOSTON–(BUSINESS WIRE)–Vida Ventures, a next-generation life sciences venture firm, was officially unveiled today with an initial $295 million in assets under management and an investment in Allogene Therapeutics. The firm actively builds and invests in life sciences companies using a flexible approach tailored to each opportunity. The Vida team has expertise in the creation and funding of start-ups through to managing commercial stage enterprises across the biomedical industry. Vida Founders include Arie Belldegrun, Fred Cohen, Leonard Potter, Arjun Goyal, and Stefan Vitorovic.
“We seek to translate breakthrough innovation into novel medicines,” said Fred Cohen, M.D., Ph.D., Co-Founder and Senior Managing Director. “Allogene is an investment in cutting edge cellular therapy technology. The Vida philosophy embodies a flexible approach in company formation and investment that is fit to each opportunity.”
“Our commitments to Homology Medicines and Pionyr Immunotherapeutics also reflect our desire to fund medical advances regardless of stage in rare genetic diseases and oncology,” said Arjun Goyal, M.D., Co-Founder and Managing Director.
“The Vida portfolio seeks to be bold. Our investment in Praxis Precision Medicines brings tools of personalized medicine to neurology, where historically the treatment of seizures has involved trial and disappointment. Praxis could change that cycle,” said Stefan Vitorovic, Co-Founder and Managing Director.
“The Vida Founders and their investors came together because we have a unified belief that great breakthroughs in medicine will only come to pass if supported by those willing to take calculated risks,” said Arie Belldegrun, M.D., FACS, Co-Founder and Senior Managing Director. “Vida is structured to utilize dynamic access to funding that allows us to capitalize on a breadth of opportunities and take unconventional approaches to investing.”
About Vida Ventures
Vida Ventures is a next-generation life sciences investment firm founded in 2017 by a group of scientists, physicians, entrepreneurs and investors passionate about building and funding breakthroughs in biomedicine. Together they form an independent, bold investment group bound together by a simple word – life. Its mission is to bring science to life and advance transformative biomedical innovations that have the potential to make a meaningful difference for patients. Vida has a bicoastal presence and currently manages approximately $295 million. For more information on Vida Ventures, please visit www.vidaventures.com, on LinkedIn or follow on Twitter @Vida_Ventures.