Venture capital firm Curie.Bio is on fire, raising $380 millions for biotech entrepreneurs and promising to extend the runway of seed funds for better long-term outcomes.
According to a release dated June 26, the latest funding follows a $520-million initial fund, bringing Curie.Bio’s total to almost $1 billion. The funds will be used to support series A rounds of clinical proof-of concept studies.
The Cambridge, Massachusetts VC took off in 2023. It includes two entities: a vehicle for investing seed money and a unit which provides services to help companies advance their science.
Zach Weinberg co-founded the company with Flatiron Health founder Christoph Lengauer, Ph.D. (acquired in 2018 by Roche). Weinberg also pilots the VC. Alexis Borisy, a former Third Rock Ventures partner, helped the company get off the ground and now serves as operating chairman, working with third co-founder Christoph Lengauer Ph.D.
The VC provides early-stage companies with the functions of a large, established biotech via its “Curie Co-pilots”. The team of 50 people includes drug hunters, biotech leaders, and helps develop a work plan, including budget planning, vendor selection and expert recruiting, as well as a roadmap to key scientific milestones. The firm boasts a network that includes more than 200 CRO partnership, which is used by portfolio companies as an “on-demand R&D” service.
The VC also helps biotechs with their fundraising process in order to ensure that the next funding round is at a higher valuation.
Curie.Bio, has so far invested in 20 companies that have programs with “blockbuster potential”. These investments span the U.S.A., Canada, Europe, and Australia, and include a variety of therapeutic areas and modalities.
Curie.Bio’s first company, Forward Therapeutics, raised a series A of $50 million in November 2023. This money was raised less than 18 months after the initial $8 million capital, according to VC.