Flagship’s AI unicorn Generate raises $273M Series C, as first drug in 17-program pipeline enters the clinic
Flagship Pioneering’s AI-focused startup Generate:Biomedicines has raised another megaround that will push multiple drug programs into the clinic.
The Somerville, MA-based biotech said Thursday it has closed a $273 million Series C round bringing in new investors, including Amgen and Nvidia’s venture capital arm. The cash will support a sprawling pipeline of 17 programs, with plans to add about 10 more programs annually. Generate also said it has entered the clinic with its first drug candidate, a Covid-19 antibody, and plans to apply in the early fourth quarter to start human testing for a second drug, an anti-TSLP antibody for severe asthma.
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