You can add a colorful Australian mining tycoon to the list of billionaires betting on biotech
You can count one more billionaire among the deep-pocket investors who’ve discovered biotech as a rich source of high-risk wagers.
This time around, it’s Andrew “Twiggy” Forrest who’s making the leap after riding a mining venture to one of the biggest fortunes in Australia. Forrest has set up a $250 million venture fund called Tenmile after picking two biotechs for its portfolio: An MDMA psychotherapeutics outfit called Emyria as well as a CAR-T biotech called Carina, according to a variety of press reports buzzing about the news down under.
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.