CHICAGO, Jan. 28, 2021 /PRNewswire/ — ARCH Venture Partners today announced the closing of ARCH Venture Fund XI, with over $1.85 billion to invest in the creation and funding of early stage biotechnology companies.
"From its start, ARCH sought out great science with the potential to significantly improve human health. While Fund XI is our largest to date, we have always invested at levels that each company or technology needed to advance, whether it’s $50,000 or $250 million. We are continually proud to help bring together and advise scientists and entrepreneurs to create successful enterprises," said co-founder and Managing Director Robert Nelsen.
ARCH will invest Fund XI in early stage biotechnology companies working on infectious disease, mental health, immunology, oncology, neurology, manufacturing, clinical trials, anti-aging medicines, genomic and biological tools, data sciences, and ways of reimagining diagnostics and therapies. ARCH continues to take a special interest in how healthcare is delivered to patients – from data collection to therapeutics manufacturing to direct patient care. ARCH will also examine areas exposed by the pandemic where innovation can solve challenges such as vaccine distribution, medical professionals being overworked and understaffed, and the scarcity of quality mental health services.
"Particularly in the midst of the ongoing pandemic, companies that can bring cutting-edge medicines and tools forward are both clearly important and good investments. Now more than ever, we have a sense of urgency and purpose to back companies that could meaningfully change medicine for the better," said Managing Director Kristina Burow.
"With this new fund, we are excited to continue finding new areas of science where a bright idea, paired with resources and know how, could spark the next significant improvement in human health," said co-founder and Managing Director Keith Crandell.
In addition to ARCH Fund XI, the firm announced updates on its team. Paul Berns, previously a Venture Partner, has been named a Managing Director. Berns brings over 30 years of pharma and biopharma experience. He is a board member for Unity Biotechnology, EQRX, and is Chairman of Epirum Bio. He previously served as Chairman, President and Chief Executive Officer at Anacor Pharmaceuticals, Inc., President and Chief Executive Officer of Allos Therapeutics, Inc., and was President and Chief Executive Officer of Bone Care International, Inc. Earlier in his career, he held various senior leadership positions at Abbott Laboratories, BASF Pharmaceuticals/Knoll, and Bristol-Myers Squibb Company.
Jay Markowitz also joined ARCH as a Senior Partner, bringing more than 19 years analyzing, investing, and working in the biopharmaceutical industry. His experience includes nine years at T. Rowe Price, seven years at Capital Group, and three years as a Senior Vice President at Regeneron Pharmaceuticals. Prior to his investment career, Markowitz was a transplant surgeon at Johns Hopkins University.
Carol Suh and Sean Kendall have been named Principals and Corey Ritter and Nilay Thakar were both promoted to Senior Associate.
ARCH’s Managing Directors include:
Robert NelsenKeith CrandellKristina BurowMark McDonnellSteve GillisPaul Berns
About ARCH Venture Partners:
ARCH Venture Partners invests in advanced technology companies and is one of the largest early stage technology venture firms in the United States. The firm is a recognized leader in commercializing technologies developed at academic institutions, corporate research groups and national laboratories. ARCH invests primarily in companies it co-founds with leading scientists and entrepreneurs, bringing innovations in life sciences and physical sciences to market.
For more information, visit www.archventure.com.
Contact:
Morgan Warners Finsbury Glover Hering [email protected]
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SOURCE ARCH Venture Partners
