Half billion dollar investment in West Coast biotech prospects
Californian investment group Westlake Village BioPartners has launched two new funds totaling $500 million, with the goal of promoting promising firms with innovative technologies.
The life sciences-focused company, which established its first fund in 2018, has since invested in or incubated 11 companies, mainly in the local Los Angeles area.
Co-founder Sean Harper said: “We are rapidly moving into what we at Westlake call ‘The Golden Age of Biotechnology’ where the speed of innovation and discoveries is accelerating exponentially.”
He added: “This exponential growth is presenting many opportunities to develop new medicines, and these additional funds will allow us to harness that innovation to develop therapies for serious diseases.”
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