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BridgeBio’s $299m Gives It Two More Years Of Runway To Launch New Companies

 
• By Joseph Haas

The company emerged in 2017 with $135m to spin out rare genetic disease-focused subsidiaries. Now with 18 start-ups and two near-term filings for drug approvals, BridgeBio will fund existing programs as they progress and continue to buy new assets.

Dollar bills

BridgeBio Pharma, now a parent company to 18 subsidiaries after its inception in 2017, has closed a $299.2m financing round from new and returning investors – funding that CEO Neil Kumar predicts will extend the company’s runway by two years or more.

Palo Alto, Calif.-based BridgeBio may have underestimated how many opportunities would be available when the firm raised its first $135m about a year and a half ago to advance early-stage research in rare genetic diseases to early go/no-go decisions by acquiring drug candidates, funding their development programs and spinning them out in subsidiaries focused on those individual assets. The hub-and-spoke spinout model is similar to the strategies employed by Roivant Sciences GMBH and Fortress Biotech Inc

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