Venture capital firm Curie.Bio has fueled up, raising $380 million for biotech founders and promising to stretch the runway of seed money for better long-term results.
The latest haul follows a $520 million initial fund and brings Curie.Bio’s total to nearly $1 billion, according to a June 26 release. The funds are expected to go toward series A rounds that support clinical proof-of-concept studies.
The Cambridge, Massachusetts-based VC took flight in February 2023 and includes two entities: an investing vehicle that provides seed-stage money and a unit that provides various services to help companies move their science forward.
The company was co-founded by Zach Weinberg, founder of Flatiron Health (acquired by Roche in 2018), who pilots the VC. Former Third Rock Ventures Partner Alexis Borisy also helped the company take off and serves as operating chair, working alongside third co-founder Christoph Lengauer, Ph.D., also formerly of Third Rock, who serves as Curie.Bio’s chief scientific officer.
The VC offers the functions of a large biotech to early-stage companies via its “Curie co-pilots.” The 50-person team includes drug hunters and biotech leaders that help develop a seed work plan with budget planning, vendor selection, expert recruiting and a road map to critical scientific milestones. The firm also touts a network of more than 200 CRO partnerships that is used as “an on-demand R&D service” for portfolio companies.
In addition, the VC helps biotechs run their fundraising process, all in the name of ensuring the next financing round is of a higher valuation.
So far, Curie.Bio has invested in 20 companies with programs that offer “blockbuster potential.” Investments span across the U.S., Canada, Europe and Australia and include a wide range of both modalities and therapeutic areas.
The first company Curie.Bio took under its wing—Forward Therapeutics—raised a $50 million series A in November 2023, money that was secured less than 18 months on from just $8 million of initial capital, according to the VC.