Hillhouse Capital has led a US$230 million series B preferred stock financing in San Diego-based biopharmaceutical firm Gossamer Bio, according to the latter’s announcement.
New investors participating in this financing include among others, a wholly-owned subsidiary of the Abu Dhabi Investment Authority (ADIA), Invus, The Baupost Group and Polaris Partners. Gossamer Bio’s existing investors, ARCH Venture Partners and Omega Funds, also meaningfully participated.
Gossamer Bio is a San Diego-based biopharmaceutical company focused on discovering, developing, and commercializing immunology-based therapeutics in the autoimmune, allergy/inflammation, and immuno-oncology disease areas. Our goal is to improve the lives of patients suffering from disease.
“We are excited to partner with the fantastic management team at Gossamer Bio," said Hillhouse Capital, "Hillhouse has long been committed to working with experienced entrepreneurs to advance global patient care. We look forward to working with Gossamer Bio to further its exciting pipeline and to bring these important medicines to patients faster.”
Proceeds from this financing will be used to continue the rapid growth of the company, progress clinical trials for multiple early and late-stage drug candidates, and to secure additional business development opportunities.
In January, Gossamer Bio raised a US$100 million series A funding from Arch Venture Partners and Omega Funds, Kristina Burow and Robert Nelsen of ARCH Venture Partners, and Tom Daniel, former Chairman and President of Celgene Global Research and Early Development.