Flagship Pioneering, the Cambridge, Mass., venture capital firm, brought biotech startup Laronde out of stealth mode in May, launching it with $50 million after four years of secrecy.
It was the first time Laronde disclosed its technology: a proprietary molecule its scientists call “endless RNA,” which the company hopes will allow humans to produce their own proteins for weeks or months to treat diseases. Now, three months after making its public debut, Laronde announced it has raised $440 million from investors.
It’s the third-largest biotech funding deal this year in the U.S. behind Cambridge biotechs EQRx and ElevateBio, which both raised rounds topping $500 million, according to PitchBook. Investors in Laronde include Flagship, funds and accounts advised by T. Rowe Price Associates and BlackRock, Invus, Canada Pension Plan Investment Board, Fidelity Management & Research Company, and other unnamed entities.
Create a display name to comment
This name will appear with your comment