TLDR:
- Flagship Pioneering raises $3.6 billion for biotech fund, focusing on AI.
- Strategic partnerships with Pfizer, Samsung, Thermo Fisher Scientific, and Novo Nordisk
Flagship Pioneering, a venture capital group, has closed a $3.6 billion biotech fund to support the development of startups in human health, sustainability, and artificial intelligence. The fund, which includes $2.6 billion for startups and $1 billion for strategic partnerships, falls slightly below the initial target set last year. Flagship has formed strategic partnerships with major pharmaceutical companies like Pfizer, focusing on drug development and life sciences. A key element of the fund is the emphasis on AI, including generative AI, to revolutionize drug discovery and development processes. The fund brings Flagship’s total capital pool to $10.9 billion, with $14 billion in assets under management. The fund reflects a compelling combination of platforms, products, and impact to address critical global challenges.
