Healthcare investment firm Foresite Capital said it raised a fresh $450 million to invest in novel products, tech and services in the healthcare industry according to press release.
San Francisco-based Foresite said it closed the oversubscribed round with $450 million. The most recent round puts more than $1 billion in assets under Foresite’s management, according to the company.
“The healthcare sector is experiencing unprecedented innovation including leaps forward in our understanding of the biology of cancer and other diseases. We believe these advances along with insights in translational medicine will lead to better patient outcomes, lower costs, and some of the most impactful medical solutions we’ve seen in decades. Our portfolio reflects this innovation across disease areas including oncology, metabolic disease, neurology, ophthalmology and orphan diseases, as well as genomics and medical devices,” CEO Dr. Jim Tananbaum said in a press release.
Last year, Foresite raised $300 million with funds earmarked for late-stage healthcare firms. This round followed up on the $100 million Foresite raised in 2013 in its 1st round.
“We are grateful for the strong interest from our existing and new investors, and the continued support of our investment approach from both investors and entrepreneurs. We believe the healthcare landscape will continue to transform over the next decade and we remain focused on concentrating our human and financial resources on leading entrepreneurs with transformative products,” Dr. Tananbaum said.
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