Flagship Pioneering, a Cambridge, MA-based life science innovation enterprise, secured $618m in new round of capital commitments.
This round, which includes commitments from long-time investors as well as many additional institutional investors, brings total capital raised by Flagship to over $2.3B.
Led by Dr. Noubar Afeyan, founder and chief executive officer, Flagship Pioneering systematically invents technologies and discovers biological processes that underlie its internally created, product-platform companies. This involves conducting the basic science, generating foundational intellectual property, growing these enterprises with in-house management and operational resources, and bringing on external leadership to grow the resulting spinout-venture.
Its institutional innovation foundry, Flagship VentureLabs®, enables Flagship’s team of scientific entrepreneurs to evolve enterprising ideas into new fields or previously undiscovered areas of science into real-world inventions and ventures.
The firm’s companies include:
– Moderna Therapeutics, a developer of mRNA therapeutics;
– Seres Therapeutics, a developer of microbiome-based therapies;
– Rubius Therapeutics, a developer of red blood cell-based therapeutics; and
– Indigo Agriculture, a developer of agriculture based on plant microbiome technology.