Boston-based venture capital firm announces $600m to invest in biotech

August 5, 2019

Boston-based venture capital firm Vida Ventures said Thursday that it has snagged $600 million more to invest in early-stage biotech companies in a second fund.

That fund should bolster the firm’s attempts to become a more significant player in the cottage industry of biotech venture capitalists. Vida has only formally invested in 14 companies since its launch in April 2018, though one — the cell therapy company Allogene — has already gone public. Merck bought another, Peloton Therapeutics, for $1 billion upfront.

The company also announced it is hiring Helen Kim, the former vice president of business development at Kite Pharma, to run its Los Angeles office. Kim was most recently a partner at The Column Group, another well-known venture capital firm.

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