Touting close ties to biotech incubators, Mission BioCapital grabs $275M to help launch startups
Before moving to shiny new offices on their venture dimes, many biotech startups trace their beginnings back to shared laboratory spaces like LabCentral and BioLabs.
As the influx of VC dollars push more seasoned players toward earlier stages of investing, Mission BioCapital — the investment firm behind some of the more prominent incubator facilities — has refueled with another $275 million to place a fresh set of bets.
Peter Parker and Johannes Fruehauf, two of the co-founders of LabCentral, are part of the 10-person investment team at Mission. Most recently, Pfizer vet and ex-Deciphera CEO Michael Taylor joined as operating partner while Steve Tregay took the co-managing partner post, his first since leaving Forma Therapeutics.
Through partnerships with MBC BioLabs, LabCentral and BioLabs, Parker said, they hope to offer support and community to founders “when they need it most.”
“Our team empowers exceptional biotech entrepreneurs from all walks of life,” Parker said in a statement. “With our new company creation effort in this fund, we’ll be able to go a step further in helping founders build new enterprises based on compelling new science. In addition, we’ll be able to unite scientific teams working across multiple geographies.”
More than double the size of its prior fund, Mission BioCapital V will have a special focus on working with academic researchers and entrepreneurs to build companies around new technologies.
Mission, which has offices in both Boston and San Francisco, has already made seven investments out of the new fund, four of which were on startups it co-founded: ARase Therapeutics, Arclight Therapeutics, Jupiter Bioventures and Telo Therapeutics.