Venture investor ORI Capital, known for orchestrating this year's largest biotech IPO, has secured a new life sciences fund amounting to $260 million, marking its second fund since its establishment in 2015 by Simone Song. The firm's initial fund, launched in 2016, concentrated on investments in cancer, heart, and neurodegenerative diseases. Leveraging its proprietary database, "Orizon," ORI meticulously assesses young companies and experimental medicines, emphasizing investments in entities addressing significant diseases. Previous successes include Semma Therapeutics and Kymab, with an expected 3.6-times return on the first fund's capital by the end of 2024.
ORI's portfolio company, CG Oncology, secured a substantial $380 million in an IPO in January 2024, marking the biotech sector's largest offering this year. With a focus on early- to mid-stage companies, ORI is eyeing innovative drug-making approaches such as RNA-targeting chemical drugs, protein degraders, cell therapies, and RNA-based medicines. Simone Song expressed confidence in the golden era of innovation at the intersection of AI and biology, citing an opportune environment to invest in the next generation of leading biotech companies. The fundraising momentum extends across the industry, with other key players like OrbiMed, Westlake Village Biopartners, Abingworth, Bioluminescence Ventures, Arch Venture Partners, and Flagship Pioneering also closing or working on substantial funds.
