New life science fund, Mirae Asset Capital Life Science, has launched with $50 million targeted towards U.S. biotechnology companies. The fund, which is part of the Mirae Asset Financial Group, aims to support private biotechs from seed funding to series C. Mirae Asset Capital Life Science is interested in areas such as oncology, immunology, cardiovascular and metabolic diseases, CNS and ophthalmology, and genetic diseases. The fund is also open to using AI and machine learning tools for drug discovery and protein engineering. In addition to its launch, the firm has already led a $75 million series C round for an unnamed oncology company that is developing small molecule precision therapies.
Power Moves: Asian Financial Group Launches $50M US Biotech Fund
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