The Next Roivant Or Fortress? BridgeBio Raises $135m To Spin Out New Companies
BridgeBio's hub-and-spoke model is similar to the Roivant and Fortress strategies, but with a focus on drug candidates for genetic diseases in need of a bridge to future funding.
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Is Eidos a goose that could lay a golden egg? BridgeBio wants to own it all, instead of two-thirds, in case its subsidiary's lead program in TTR amyloidosis succeeds in Phase III.
Even though half of the drug developers that have gone public in the US during the first two quarters of the year are providing negative returns, the 13 companies trading in positive territory bring the class of 2019's average return to 10%.
The company emerged in 2017 with $135m to spin out rare genetic disease-focused subsidiaries. Now with 18 start-ups and two near-term filings for drug approvals, BridgeBio will fund existing programs as they progress and continue to buy new assets.