BridgeBio Pharma, a Palo Alto, CA-based clinical-stage biopharmaceutical company focused on genetic diseases, raised $299.2m in new financing.
The round was co-led by existing investors KKR and Viking Global Investors, with participation from existing investors Perceptive Advisors, AIG, Aisling Capital, Cormorant Capital, and Hercules Capital and new investors Sequoia Capital, and a blue-chip long-term investor.
The company intends to use the funds to conduct its existing drug research and development programs and expand its efforts to develop medicines for patients with unmet needs.
Formed in 2015 by a team of drug research and development veterans from both the biotech industry and academia led by Neil Kumar, Ph.D, chief executive officer, BridgeBio finds, develops, and delivers medicines for genetic diseases. The company has built a portfolio of more than 15 drugs ranging from pre-clinical to late stage development in multiple therapeutic areas including genetic dermatology, oncology, cardiology, neurology, endocrinology, renal disease, and ophthalmology.
Some of the specific indications targeted include transthyretin amyloidosis (ATTR-CM and ATTR-PN), pantothenate kinase-associated neurodegeneration (PKAN), Gorlin syndrome and frequent basal cell carcinomas, dystrophic epidermolysis bullosa (DEB), Darier and Hailey-Hailey diseases, Netherton syndrome, venous malformations, Canavan disease, Leber’s hereditary optic neuropathy, molybdenum cofactor deficiency Type A, achondroplasia, and FGFR, SHP-2, and K-RAS-driven cancers.