BridgeBio Pharma Secures $299 Million Funding with Sequoia Capital Participation to Advance Gene-Targeted Therapies for Genetic Diseases

VCBeat (WeChat ID: vcbeat) has learned that BridgeBio Pharma, a biopharmaceutical company focused on researching genetic diseases, recently secured $299.2 million in financing. The company will use these funds to continue its existing research and launch new drug development programs to meet the needs of patients with various genetic disorders.

This funding round was co-led by KKR and Viking Global Investors, with participation from existing investors Perceptive Advisors, AIG, Cormorant Capital, Aisling Capital, and Hercules Capital. New investors Sequoia Capital and a long-term investor from Blue Chip also joined the financing. To date, the company has secured two rounds of investment. In 2017, it raised $135 million in Series C financing, led by KKR and Viking Global Investors.

It is understood that genetic diseases are caused by mutations in human DNA, which can be either inherited or spontaneous. Currently, there are over 7,000 known genetic diseases affecting approximately 25 to 30 million Americans. However, there are no more than 500 drugs available for treating these conditions, leaving a large number of patients with no therapeutic options.

Neil Kumar, Co-Founder and CEO of BridgeBio Pharma, stated, “We recognize that many patients with genetic diseases lack effective treatment options, and we are committed to developing novel, effective therapies for these individuals. Drug development is a long journey that requires unwavering conviction; we are fortunate that our research has earned the trust of investors.”

BridgeBio Pharma, founded in 2015, is a biopharmaceutical company dedicated to developing therapies for genetic diseases. The company employs more than 50 leading scientists in the biotechnology field and boasts a world-class research and development team. This team utilizes gene-targeted therapies with the aim of addressing genetic diseases at their root cause. Currently, the team has 15 projects in its pipeline.

It is worth noting that BridgeBio Pharma has invested in multiple subsidiaries, each dedicated to researching genetic diseases within a specific therapeutic area, including dermatology, oncology, endocrinology, neurology, and cardiology. This decentralized and efficient structure enables the company to concentrate its efforts on specific domains, thereby facilitating more in-depth and thorough research into genetic disorders.

KKR, founded in 1976, is one of the most successful industrial investment firms in financial history and one of the oldest and most experienced private equity investment institutions globally. Headquartered in New York, KKR maintains multiple offices in San Francisco, London, Paris, Hong Kong, Tokyo, Beijing, and other regions, with operations spanning the globe. As a pioneer of the global private equity industry, KKR has executed large-scale investments across 25 industries, completing over 335 private equity transactions with a total enterprise value exceeding $500 billion.

Viking Global Investors, founded in 1999 and headquartered in Connecticut, USA, is a private equity firm investing globally with over $20 billion in assets under management.

Perceptive Advisors, established in 1999 and headquartered in New York, USA, is a hedge fund firm. The company invests in global public equity markets, with a primary focus on the biotechnology and life sciences sectors.

AIG was founded in 1919 and is a global insurance company with operations in more than 80 countries and regions.

Cormorant Capital is an institution dedicated to venture capital and business consulting. The firm has made a total of four investments.

Aisling Capital, founded in 2000 and headquartered in New York, USA, is a private equity investment firm dedicated to investing in globally leading healthcare companies.

Hercules Capital, founded in 2003 and headquartered in California, USA, is a non-bank lender dedicated to providing loan services to companies in the biotechnology and life sciences sectors.

Sequoia Capital, founded in 1972 and headquartered in California, USA, is a venture capital firm that focuses on investing in startups in the fields of energy, finance, healthcare, and mobile internet. To date, the firm has made over 1,200 investments.