TLDR:
- TPG has topped up its Life Science Innovations fund to $580 million, supporting emerging life science companies.
- Focus areas include oncology, rare diseases, autoimmune diseases, ophthalmology, and cardiometabolic diseases.
Full Article:
TPG, a prominent asset manager, has augmented its Life Science Innovations fund with an additional $580 million in capital. This fund is dedicated to supporting emerging life science companies, with a specific focus on aiding firms in advancing breakthrough technologies to clinical proof-of-concept. TPG’s primary areas of interest include oncology, rare and orphan diseases, autoimmune and inflammatory diseases, ophthalmology, and cardiometabolic diseases, as well as different drug modalities and technology platforms.
For this round of fundraising, TPG aims to identify and support companies ranging from preclinical to commercial stages, including medical devices and pharma services. The $580 million in capital raised includes contributions from TPG’s The Rise Fund, which was utilized to support Sionna Therapeutics’ $182 million series C round in March, focusing on developing treatments for cystic fibrosis.
In addition to Sionna Therapeutics, TPG has also participated in a $168 million funding round for precision medicine antibody company Santa Ana Bio in June. The firm has also provided support to other companies such as Ellodi Pharmaceuticals, Saluda Medical, MBrace Therapeutics, and Bicara Therapeutics. TPG’s assets under management totaled $224 billion as of March 31, representing a significant 63% increase compared to the previous year.
