Rare Daily Staff
BridgeBio pharma said it completed a $299.2 million financing round to support the company’s existing drug research and development programs and expand its efforts to rapidly develop medicines for patients with genetic diseases.
KKR and Viking Global Investors led the round. Other existing investors participating included Perceptive Advisors, AIG, Aisling Capital, Cormorant Capital, and Hercules Capital. New investors in the round included Sequoia Capital.
“We are privileged to be working with investors who believe in our goal of creating medicines for patients with genetic disease. We are aware that many of these patients lack effective treatment options, and we take our mission to help them seriously,” said Neil Kumar, co-founder and CEO of BridgeBio. “The path from promising early-stage science to a drug that makes a difference for patients requires a long-term vision and steady commitment. We are fortunate to have our investors’ support as we develop these treatments.”
BridgeBio Pharma was formed in 2015 by a team of drug research and development veterans from both the biotech industry and academia. The company seeks to translate novel scientific discoveries from universities, academic medical centers, and pharmaceutical research groups into genetically-targeted therapeutics that address the fundamental causes of disease.
Its portfolio of more than 15 assets includes several in the preclinical stages of development, as well as four programs in or approaching pivotal trials. Each of these drug assets is housed in its own subsidiary company, with access to centralized resources and capabilities courtesy of a novel corporate structure.
The portfolio assets span therapeutic areas including genetic dermatology, oncology, cardiology, neurology, endocrinology, renal disease, and ophthalmology. Some of the specific indications targeted include transthyretin amyloidosis (ATTR-CM and ATTR-PN), pantothenate kinase-associated neurodegeneration (PKAN), Gorlin syndrome and frequent basal cell carcinomas, dystrophic epidermolysis bullosa (DEB), Darier and Hailey-Hailey diseases, Netherton syndrome, venous malformations, Canavan disease, Leber’s hereditary optic neuropathy, molybdenum cofactor deficiency Type A, achondroplasia, and FGFR, SHP-2, and K-RAS-driven cancers.
January 23, 2019
Photo: Neil Kumar, co-founder and CEO of BridgeBio