Gold­man Sachs clos­es $650M life sci­ences fund to bankroll in­dus­try’s ‘gold­en era’

The Big Banks are cap­i­tal­iz­ing on the drug de­vel­op­ment and di­ag­nos­tics world, with Gold­man Sachs As­set Man­age­ment clos­ing out its first life sci­ences fund at $650 mil­lion.

The New York-based bank­ing con­glom­er­ate said the fund, known as West Street Life Sci­ences I, has al­ready com­mit­ted about $90 mil­lion to five biotech star­tups. That in­cludes can­cer drug de­vel­op­ers TORL Bio­Ther­a­peu­tics and Nest­ed Ther­a­peu­tics, as well as three Third Rock port­fo­lio com­pa­nies: MO­MA, Rap­port and Septer­na.

Unlock this article instantly by becoming a free subscriber.

You’ll get access to free articles each month, plus you can customize what newsletters get delivered to your inbox each week, including breaking news.

SIGN UP LOG IN BECOME A PREMIUM SUBSCRIBER