TLDR:
- Bain Capital Life Sciences closes $3 billion biotech fund, bringing total haul to $6.7 billion since 2016.
- The fund will be used to support companies working on therapeutics, medical devices, life science tools, and diagnostics.
Bain Capital Life Sciences has announced the closure of a $3 billion biotech fund, marking its fourth fund since its inception in 2016. The firm has secured $2.5 billion in outside commitments from new and existing investors, with the remaining funds coming from its partners, employees, and affiliates. The focus of the fund will be on supporting companies working on therapeutics, medical devices, life science tools, and diagnostics to improve the lives of patients with unmet medical needs.
Since its establishment eight years ago, Bain Capital’s life sciences arm has invested in over 70 companies, leading to 16 regulatory approvals. The firm’s investment strategy includes backing new companies, providing growth funding for advanced startups, and offering financial support to companies deemed to be at a crossroads. Noteworthy successes include investments in spin-outs of pharmaceutical companies like Springworks Therapeutics and Cerevel Therapeutics, which have seen significant market success.
Furthermore, several of Bain’s portfolio companies, including Aiolos Bio, Jnana Therapeutics, and EyeBio, have been acquired by large drugmakers this year. This aligns with a trend of increased M&A activity in the biotech startup sector. Despite a stabilization in biotech venture funding, Bain Capital has continued to invest in significant financing rounds for companies like Cardurion Pharmaceuticals and Hercules CM NewCo.
