As its biotechs hit the pan­dem­ic ex­it, Lon­gi­tude rais­es $585M for new neu­ro, can­cer, ag­ing and or­phan-fo­cused fund

The years have been kind to Lon­gi­tude Cap­i­tal. This year, too.

A 2006 spin­out of Pe­quot Cap­i­tal, its founders start­ed their new firm just four years be­fore the par­ent com­pa­ny would go un­der amid in­sid­er trad­ing al­le­ga­tions. Their first life sci­ences fund raised $325 mil­lion amid the fi­nan­cial cri­sis, they added a sec­ond for $385 mil­lion and then in, 2016, a third for $525 mil­lion. In the last few months, the pan­dem­ic biotech IPO boom net­ted sev­er­al high-val­ue ex­its from those funds, as Check­mate, Vax­cyte, In­ozyme and Po­sei­da all went pub­lic.

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