Bob Nelsen (Lyell)

Up­dat­ed: As bear mar­ket con­tin­ues to beat down biotech, ARCH clos­es a $3B ear­ly-stage fund

One of the biggest names in biotech in­vest­ing has a whole lot of new mon­ey to spend.

ARCH Ven­ture Part­ners closed its 12th ven­ture fund ear­ly Wednes­day morn­ing, the firm said, bring­ing in al­most $3 bil­lion to in­vest in ear­ly-stage biotechs. The move comes about a year and a half af­ter ARCH an­nounced its pre­vi­ous fund, for al­most $2 bil­lion back in Jan­u­ary 2021.

In an in­ter­view with End­points News, ARCH man­ag­ing di­rec­tor and co-founder Bob Nelsen brushed off con­cerns about the broad­er mar­ket trou­bles, say­ing the down­turn that’s seen sev­er­al biotechs down­size and the XBI fall back to al­most pre-pan­dem­ic lev­els won’t im­pact ARCH’s mind­set too much be­cause it typ­i­cal­ly fo­cus­es on com­pa­ny for­ma­tion.

Endpoints News

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