RA Capital Management co-led the round with SoftBank Vision Fund 2. The drug-discovery firm, run by former Purdue Pharma chief medical officer Marcelo Bigal, attracted a slate of other high-profile investors, including Andreessen Horowitz, Qatar Investment Authority, Alphabet’s GV, as well as Fonds de solidarité FTQ. As part of the deal, SoftBank investment advisor John Cassidy will join the Ventus board. (The Logic)
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RA Capital Management co-led the round with SoftBank Vision Fund 2. The drug-discovery firm, run by former Purdue Pharma chief medical officer Marcelo Bigal, attracted a slate of other high-profile investors, including Andreessen Horowitz, Qatar Investment Authority, Alphabet’s GV, as well as Fonds de solidarité FTQ. As part of the deal, SoftBank investment advisor John Cassidy will join the Ventus board. (The Logic)
Talking point: The round nearly doubles Ventus’s funding raised to date, PitchBook data shows. The company, founded in 2019, plans to use the funds to scale its ReSolve platform, which targets molecules in the body “previously considered undruggable,” according to the company. The firm also plans to expand its R&D staff. Bigal is also a venture partner at Philadelphia-based Versant Ventures, which also participated in the Series C. He spent just over a year at Purdue leading up to the OxyContin maker filing for bankruptcy in 2019, following thousands of lawsuits accusing the Sackler family-owned firm of helping cause the opioid epidemic.
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