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January 24, 2019updated 23 Nov 2021 11:40am

BridgeBio Pharma raises $299m to support drug R&D

US-based biopharmaceutical firm BridgeBio Pharma has raised $299.2m in a new financing round led by its existing investors KKR and Viking Global Investors.

US-based biopharmaceutical firm BridgeBio Pharma has raised $299.2m in a new financing round led by its existing investors KKR and Viking Global Investors.

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The round was also joined by Perceptive Advisors, AIG, Aisling Capital, Cormorant Capital, Hercules Capital, Sequoia Capital and an undisclosed blue-chip long-term investor.

BridgeBio Pharma intends to use the new funds to reinforce existing drug research and development (R&D) programmes, supporting its strategy to develop therapies for patients with genetic diseases.

The company’s portfolio consists of more than 15 pre-clinical stage assets, along with four programmes in or approaching pivotal clinical trials.

These candidates target a variety of therapeutic areas, including genetic dermatology, oncology, cardiology, neurology, endocrinology, renal disease and ophthalmology.

The company leverages a central R&D platform to carry out multiple programmes simultaneously. It claims that the model redistributes personnel and funding amongst the assets based on their needs.

BridgeBio Pharma co-founder and CEO Neil Kumar 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.”

“The path from promising early-stage science to a drug that makes a difference for patients requires a long-term vision and steady commitment.”

Founded in 2015, BridgeBio Pharma focuses on translation of scientific discoveries from universities, academic medical centres and pharmaceutical research into genetically-targeted medicines.

The company aims to offer drugs that target the fundamental causes of disease for patients with unmet needs.

According to statistics, 25-30 million people in the US are affected by more than 7,000 genetic diseases. However, less than 500 drugs are approved, which limits the options available for many patients.

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What’s missing from your IPO industry assessment?

IPO activity all but stopped in 2020, as the investment community grew wary of the effects of COVID-19 on economies. No matter how deserving a business was of flotation, momentum was halted by concerns of when a ‘new normal’ of working patterns and trade would set in. Recently, sentiment has changed. Flotations picked up again during the second half of 2021, and now in 2022 the mood is decidedly optimistic. Business leaders have their eyes on fast rebounding economies, buoyant market indices and the opportunity once again to take their businesses public. As a result, global IPOs are expected to hit back this year. With GlobalData’s new whitepaper, ‘IPOs in Consumer and Retail: 5 must-include elements for your prospectus industry report’, you can explore exactly what is needed in the essential literature. GlobalData’s focus lies in the critical areas to get right:
  • Macroeconomic and demographic environment
  • Consumer context
  • Industry environment
  • Competitive environment
  • Route to market
Interested to learn more about what to include in your IPO Industry Assessment report? Download our free whitepaper.
by GlobalData
Enter your details here to receive your free Report.

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