ADIA and Alaskan Sovereign Wealth Back Generate Biomedicines
Posted on 11/18/2021
Cambridge biotech Generate Biomedicines is a developer of protein-based medicines. Generate Biomedicines raised US$ 370 million in Series B funding from founder Flagship Pioneering and co-investors Abu Dhabi Investment Authority (ADIA), Fidelity, Alaska Permanent Fund Corporation, Arch Venture Partners, Altitude Life Science Ventures, Morningside Ventures, and T. Rowe Price Group, Inc.
Generate Biomedicines was founded in 2018 by Flagship Pioneering. Generate Biomedicines is showing off its platform-based approach to drug development with a focus on proteins. The startup claims to have been been able to generate novel proteins across all protein modalities, and so that includes antibodies, peptides, enzymes and cell and gene therapy.