ARCH Enterprise Companions has closed a $2.975 billion fund focused for early-stage biotech corporations. The agency’s twelfth enterprise fund comes on the heels of an almost $2 billion fund introduced in January 2021 and launches amidst a biotech bear market. “Science doesn’t care what markets are doing, and science strikes ahead,” mentioned ARCH cofounder and managing director Robert Nelsen in an announcement asserting the fund Wednesday. ARCH has places of work in Seattle and is a backer of Seattle-area giants Sana Biotechnology and Lyell Immunopharma. ARCH was additionally a key investor in Seattle’s Juno Therapeutics, which was acquired by Celgene in 2018 in a deal value greater than $9 billion.
