Omega Funds goes back to the well with newest $650M fund, tak­ing a 'stage-ag­nos­tic' ap­proach to biotech VC

Amid a very dif­fi­cult back half of the year for biotech in­vest­ing, some bull­ish in­vestors are mak­ing the case for a ma­jor ral­ly in the com­ing year as phar­ma looks to uti­lize its grow­ing moun­tain of cash. Now, biotech blue-chip­per Omega Funds is get­ting it­self set at the start­ing line.

Omega has closed a $650 mil­lion in­vest­ment fund it’s call­ing Omega Fund VII, the VC firm’s lat­est and largest round in its 17 years in ex­is­tence, it said Fri­day.

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