Boston-based biotech investor Omega Funds now has $438 million more to spend. The company announced Wednesday that it completed its sixth and largest-ever venture capital investment fundraising effort.
The firm’s previous investments include Gossamer Bio, Juno Therapeutics, and Editas Medicine.
Omega is one of many venture capital firms raising increasingly larger funds in recent years — a key reason that more money is available for early-stage biotechs than ever before. According to MassBio, about $4.8 billion flowed from venture firms to Massachusetts-based biotech companies in 2018 alone.
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