TLDR:
- Amplitude Ventures, a Canada-based VC, has unveiled a $192 million biotech fund dedicated to developing new precision medicines.
- The fund will focus on companies that combine biology and artificial intelligence in drug development.
Amplitude Ventures, a backer of Repare Therapeutics, has announced the launch of a new $192 million biotech fund aimed at the development of precision medicines. The Canada-based VC will be directing the funds towards companies that integrate biology and artificial intelligence in drug development. Since 2019, Amplitude has been focused on creating and growing companies in the biotech sector, including Repare Therapeutics which had a successful IPO in 2020.
With four investments already made from the new fund, Amplitude is backing companies such as Evommune, Tentarix Biotherapeutics, Reverb Therapeutics, and Evolved Therapeutics. In addition, Amplitude established a partnership with Evotec in October 2023, allowing its venture studio, Pre-Amp, to utilize Evotec’s drug discovery platform to speed up the formation of new companies in the biotech space.
Overall, Amplitude Ventures’ new biotech fund highlights the growing interest in precision medicine and the importance of integrating technology like AI into drug development processes. The investments made by Amplitude signal a promising future for the Canadian life sciences sector and the potential for innovative developments in the field of biotech.
