Chicago, IL-based ARCH Venture Partners closed two new funds, with a combined $1.46 billion.
Limited partners include endowments, family offices, sovereign wealth funds and other institutional investors.
ARCH Venture Fund X and ARCH Venture Fund X Overage will invest in transformative, early stage biotechnology companies. While ARCH will frequently co-invest in a company with both funds, Fund X Overage will be utilized in fewer deals requiring larger investments.
Led by Robert Nelsen, Keith Crandell, Kristina Burow, Mark McDonnell, Steve Gillis and Paul Thurk, Arch Venture Partners invests in advanced technology companies commercializing technologies developed at academic institutions, corporate research groups and national laboratories. The firm invests primarily in companies it co-founds with leading scientists and entrepreneurs, bringing innovations in life sciences and physical sciences to market.
Fund X and Fund X Overage follow ARCH Venture Fund IX and ARCH Venture Fund IX Overage, which closed in 2016 with a combined $1.1 billion. ARCH Venture Fund VIII and ARCH Venture Fund VIII Overage closed in 2014 with a combined $560 million.
Early stage Arch investments have included Illumina, Alnylam Pharmaceuticals, Juno Therapeutics, Receptos, Agios Pharmaceuticals, Vir Biotechnology, Sage Therapeutics, bluebird bio, Codiak Biosciences, Denali Therapeutics, GRAIL, Karuna Therapeutics, Beam Therapeutics, Lyell Immunopharma, Sana Biotechnology, Brii Biosciences, Twist Biosciences, Aviron, Ikaria, Gossamer Bio, Fate Therapeutics, Array Biopharma, Adolor, Quanterix, 908 Devices, Unity Biotechnology, Hua Medicine, deCODE Genetics, Homology Medicines and others.
In the current battle against COVID-19, Arch companies Vir Biotechnology, Alnylam Pharmaceuticals, VBI Vaccines, Brii Biosciences and Sana Biotechnology are currently working to develop dedicated therapeutics. In addition, Quanterix is advancing technology that can help with clinical testing needs and support clinical trial continuity. Twist Biosciences is advancing genomic and gene engineering tools used in COVID-19 therapeutic and vaccine development while Bellerophon’s inhaled nitric oxide (iNO) delivery system recently received emergency expanded access approval from the Food and Drug Administration for treatment of COVID-19.