TLDR:
Flagship Pioneering has raised $2.6 billion through its eighth venture fund, with an additional $1 billion coming from side funds. The firm aims to form more partnerships with Big Pharma companies, such as Novo Nordisk and Pfizer, to develop new drugs and treatments.
Flagship’s CEO, Noubar Afeyan, expressed gratitude for the diverse group of investors supporting the firm and stated that the increased capital will drive scientific innovation and accelerate the development of breakthrough companies.
Despite recent successes, some companies in Flagship’s portfolio have faced challenges, such as layoffs at Sana Biotechnology and clinical holds at Foghorn Therapeutics.
Flagship has expanded globally by opening offices in London and Singapore, and their in-house drug development unit has grown to over 100 people with a pipeline of 10 therapeutics under development.
