Latest news with #OmegaFunds
Yahoo
21-07-2025
- Business
- Yahoo
Life sciences VC Omega Funds closes $647m funding round
Life sciences venture capital (VC) company Omega Funds has closed its eighth fund, with capital commitments totalling $647m. As with its previous funds, the US-based business said its oversubscribed funding, which had initially targeted a $600m close, will continue executing on its strategy to support management teams in the US and Europe that target severe, unmet medical needs through company creation, early venture rounds, and later-stage financing. Omega Funds managing director Francesco Draetta said: 'We believe our broad investment strategy is well-positioned for navigating this period of macro and policy uncertainty. 'We look forward to contributing our capital, expertise, and network connectivity in partnering with entrepreneurs, founders, co-investors, and the broader community to transform the standards of care for severe diseases.' According to Omega, it has raised $2.5bn since its first fund in 2004 to support the development of medical devices and therapeutics across indications including oncology, immunology, and rare diseases. In total, 52 products have been brought to market by Omega's former portfolio companies, with the VC's previous investments resulting in 50 exits via M&A, and 47 public listings. M&A exits include SoniVie, Scorpion Therapeutics, and Amunix Pharmaceuticals, which were acquired by Boston Scientific, Eli Lilly, and Sanofi, respectively. Companies that Omega has invested in have gone on to launch initial public offerings (IPO). These include Kestra Medical Technologies, Beta Bionics, and Imago Biosciences, all of which are listed on the Nasdaq exchange. Omega Funds' founder and managing director Otello Stampacchia commented: 'By exceeding its target size, fund VIII is a recognition of our investment strategy and track record of consistent exits across market cycles.' Life science companies are typically reliant on investment from VC or private equity (PE) businesses. While research by Bain & Company found that deal value in 2023 struggled to match the pace of previous years, more recent research by the consultant found that healthcare PE soared to an estimated $115bn in 2024, making it the second-highest deal value total on record. Other significant entities backing life science companies include Symbiotic Capital. The credit company from biotech entrepreneur Arie Belldegrun, founder of Kite Pharma and co-founder of Bellco Capital, launched in August 2024 with $600m for life science-specific loans. "Life sciences VC Omega Funds closes $647m funding round" was originally created and published by Pharmaceutical Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Wire
21-07-2025
- Business
- Business Wire
Omega Funds Closes Oversubscribed $647 Million Fund VIII to Invest in Transformative Life Science Companies
BOSTON--(BUSINESS WIRE)-- Omega Funds, a leading international healthcare venture capital firm focused on delivering impactful medicines to patients, today announced the closing of its eighth fund with $647 million in capital commitments. The new fund, Omega Fund VIII, L.P. ("Fund VIII"), was oversubscribed, exceeding its target of $600 million, garnering strong support from both new and existing limited partners. With Fund VIII, the firm will continue to execute its strategy of creating and investing in innovative life sciences companies in the U.S. and Europe that target severe, unmet medical needs. Since its inception in 2004, Omega Funds has raised $2.5 billion to invest in exceptional entrepreneurs developing innovative products across multiple therapeutic areas, including oncology, immunology, rare diseases, medical devices, and precision medicine. Fund VIII builds upon the prior success of Omega Funds, resulting in 52 commercialized products being brought to market by Omega portfolio companies. The firm's investments have resulted in 50 exits via M&A, and 47 public listings. Omega's recent M&A exits and IPOs include SoniVie (acquired by Boston Scientific), Scorpion Therapeutics (acquired by Eli Lilly), Kestra Medical Technologies (NASDAQ: KMTS), Beta Bionics (NASDAQ: BBNX), Upstream Bio (NASDAQ: UPB), Bicara Therapeutics (NASDAQ: BCAX), Morphic Therapeutic (NASDAQ: MORF, acquired by Eli Lilly), EyeBio (acquired by Merck), Imago BioSciences (NASDAQ: IMGO, acquired by Merck), Amunix Pharmaceuticals (acquired by Sanofi), and Chord Therapeutics (acquired by Merck KGaA). 'We are very grateful to our investors for the support and trust, particularly given this exceptionally challenging fundraising environment. By exceeding its target size, Fund VIII is a recognition of our investment strategy and track record of consistent exits across market cycles,' said Otello Stampacchia, Founder and Managing Director of Omega Funds. 'We appreciate the partnership from both our longstanding and new limited partners.' 'As with prior funds, Fund VIII will support management teams in the U.S. and Europe through company creation, early venture rounds, and later-stage financings,' said Francesco Draetta, Managing Director of Omega Funds. 'We believe our broad investment strategy is well-positioned for navigating this period of macro and policy uncertainty. We look forward to contributing our capital, expertise, and network connectivity in partnering with entrepreneurs, founders, co-investors, and the broader community to transform the standards of care for severe diseases.' About Omega Funds Founded in 2004, Omega Funds is a leading international venture capital firm that creates and invests in life sciences companies that target our world's most urgent medical needs. Omega focuses on identifying and supporting companies through value inflection points across the full arc of innovation, from company formation through clinical milestones and commercial adoption. Omega Funds' portfolio companies have brought 52 commercialized products to market in multiple therapeutic areas, including oncology, rare diseases, precision medicine, medical devices, and others. Please visit for additional information.
Business Wire
11-06-2025
- Business
- Business Wire
Antares Therapeutics Launches with $177 Million to Develop First-in-Class Precision Medicines for Cancer and Other Serious Diseases
BOSTON--(BUSINESS WIRE)--Antares Therapeutics, Inc. ('Antares'), a biotechnology company developing first-in-class precision medicines for cancer and other serious diseases, launched today with $177 million in Series A financing. The financing was co-led by Omega Funds, Atlas Venture, Lightspeed Venture Partners, BVF Partners, and Cormorant Asset Management, with participation from Vinyanshu Ventures, Abingworth, Invus, Tenmile, Vida Ventures, and Willett Advisors. Antares is a spin-out of Scorpion Therapeutics, Inc. ('Scorpion'), which sold its mutant-selective PI3Kα inhibitor program, STX-478, to Eli Lilly and Company ('Lilly') in March 2025 for up to $2.5 billion in total consideration. Scorpion was founded in 2020 and, in the subsequent five years, raised a total of $420 million in financing, executed partnerships with multiple pharmaceutical companies, and generated six development candidates, three of which are in clinical testing. Antares is led by Scorpion's former executive leadership team and is advancing a pipeline of small molecule assets developed at Scorpion, including programs in precision oncology and other therapeutic areas, as well as programs initiated through Scorpion's 2022 transcription factor collaboration with AstraZeneca. 'We took our name from Antares, the brightest star in the Scorpius constellation, and known as 'the heart of the Scorpion.' We are building from a strong foundation with a team of experts who are experienced in making new medicines, as well as proprietary drug discovery capabilities and a robust preclinical pipeline fueled by discoveries in drugging previously inaccessible targets,' said Adam Friedman, M.D., Ph.D., Chief Executive Officer of Antares and former Chief Executive Officer of Scorpion. 'We are committed to leveraging our expertise to address well-validated, first-in-class targets across oncology and other serious diseases, and to continuing to execute a fast-to-clinic strategy to bring medicines to patients in need.' 'At Omega, we focus on identifying approaches and working with exceptional teams to deliver impactful products to patients,' said Otello Stampacchia, Ph.D., Founder and Managing Director at Omega Funds. 'Antares meets each of these criteria. As one of the founding investors in Scorpion, we have had the opportunity to follow the company's evolution very closely and have been consistently impressed by the breadth of the team's capabilities, as well as their scientific rigor and rapid execution. I look forward to seeing the company's vision advance by delivering differentiated, first-in-class products to treat some of the most important unmet medical needs.' Additionally, Antares announced that Pierre Fabre Laboratories, with whom Scorpion previously partnered to advance two clinical-stage, highly selective next-generation mutant EGFR inhibitors for the treatment of non-small cell lung cancer, has acquired global rights to both programs. Under the terms of the agreement, Pierre Fabre Laboratories will lead the continued clinical development and global commercialization of both programs, and Antares will be eligible to receive regulatory and commercial milestones and tiered royalties. Antares' leadership team Antares is led by the former Scorpion executive team, including leaders with accomplished track records in the biotechnology industry: Adam Friedman, M.D., Ph.D., Chief Executive Officer Natasja Brooijmans, Ph.D., Executive Vice President, Discovery Predictive Sciences Mark Chao, M.D., Ph.D., Chief Medical Officer Andrew Fedder, General Counsel Angel Guzman-Perez, Ph.D., Executive Vice President, Head of Chemistry Erica Jackson, Ph.D., Chief Scientific Officer Darrin Stuart, Ph.D., Chief Development Officer Amanda Valentino, Chief People Officer The company's Board of Directors are industry veterans with company-building expertise, as well as experience pioneering breakthrough medicines: Jeff Albers, J.D., M.B.A., Board Chair at Antares Therapeutics and Venture Partner at Atlas Venture Shelley Chu, M.D., Ph.D., Partner at Lightspeed Venture Partners Keith Flaherty, M.D., Director of Clinical Research at Massachusetts General Hospital Cancer Center and Professor at Harvard Medical School Jean-François Formela, M.D., Partner at Atlas Venture Adam Friedman, M.D., Ph.D., Chief Executive Officer of Antares Therapeutics Sir Menelas Pangalos, Ph.D., formerly Executive Vice President of Biopharmaceuticals R&D at AstraZeneca 'After years of investment into its proprietary drug discovery capabilities, the team at Antares has made notable progress to unlock the therapeutic potential of targets long seen as important – but undruggable – like the large class of transcription factors,' said Sir Menelas Pangalos, Ph.D., independent member of the Antares Board. 'I look forward to partnering with the Antares team as they address some of the most complex challenges in science.' 'Antares will build on what Scorpion started: combining cutting edge computational and experimental chemistry and biology with laser-focused clinical development,' said Keith Flaherty, M.D., Director of Clinical Research at Massachusetts General Hospital Cancer Center. "This team has demonstrated an ability to break through longstanding limits in medicinal chemistry to advance a pipeline of first-in-class assets, aiming to change the treatment landscape for patients.' About Antares Therapeutics Antares Therapeutics is a biotechnology company developing transformational, first-in-class precision medicines with a focus on validated, undruggable targets in cancer and other serious diseases with large unmet need. Antares' most advanced program is expected to enter the clinic in 2026, with multiple additional programs in preclinical development. To learn more, visit and follow us on LinkedIn.
Yahoo
10-06-2025
- Business
- Yahoo
Antares Therapeutics Launches with $177 Million to Develop First-in-Class Precision Medicines for Cancer and Other Serious Diseases
– Spin-out of Scorpion Therapeutics, led by former Scorpion Therapeutics management team – – Advancing multiple programs across cancer and other serious diseases; plans to advance first new product candidate into the clinic in 2026 – – Series A financing co-led by Omega Funds, Atlas Venture, Lightspeed Venture Partners, BVF Partners, and Cormorant Asset Management, with participation from other leading healthcare funds – BOSTON, June 10, 2025--(BUSINESS WIRE)--Antares Therapeutics, Inc. ("Antares"), a biotechnology company developing first-in-class precision medicines for cancer and other serious diseases, launched today with $177 million in Series A financing. The financing was co-led by Omega Funds, Atlas Venture, Lightspeed Venture Partners, BVF Partners, and Cormorant Asset Management, with participation from Vinyanshu Ventures, Abingworth, Invus, Tenmile, Vida Ventures, and Willett Advisors. Antares is a spin-out of Scorpion Therapeutics, Inc. ("Scorpion"), which sold its mutant-selective PI3Kα inhibitor program, STX-478, to Eli Lilly and Company ("Lilly") in March 2025 for up to $2.5 billion in total consideration. Scorpion was founded in 2020 and, in the subsequent five years, raised a total of $420 million in financing, executed partnerships with multiple pharmaceutical companies, and generated six development candidates, three of which are in clinical testing. Antares is led by Scorpion's former executive leadership team and is advancing a pipeline of small molecule assets developed at Scorpion, including programs in precision oncology and other therapeutic areas, as well as programs initiated through Scorpion's 2022 transcription factor collaboration with AstraZeneca. "We took our name from Antares, the brightest star in the Scorpius constellation, and known as 'the heart of the Scorpion.' We are building from a strong foundation with a team of experts who are experienced in making new medicines, as well as proprietary drug discovery capabilities and a robust preclinical pipeline fueled by discoveries in drugging previously inaccessible targets," said Adam Friedman, M.D., Ph.D., Chief Executive Officer of Antares and former Chief Executive Officer of Scorpion. "We are committed to leveraging our expertise to address well-validated, first-in-class targets across oncology and other serious diseases, and to continuing to execute a fast-to-clinic strategy to bring medicines to patients in need." "At Omega, we focus on identifying approaches and working with exceptional teams to deliver impactful products to patients," said Otello Stampacchia, Ph.D., Founder and Managing Director at Omega Funds. "Antares meets each of these criteria. As one of the founding investors in Scorpion, we have had the opportunity to follow the company's evolution very closely and have been consistently impressed by the breadth of the team's capabilities, as well as their scientific rigor and rapid execution. I look forward to seeing the company's vision advance by delivering differentiated, first-in-class products to treat some of the most important unmet medical needs." Additionally, Antares announced that Pierre Fabre Laboratories, with whom Scorpion previously partnered to advance two clinical-stage, highly selective next-generation mutant EGFR inhibitors for the treatment of non-small cell lung cancer, has acquired global rights to both programs. Under the terms of the agreement, Pierre Fabre Laboratories will lead the continued clinical development and global commercialization of both programs, and Antares will be eligible to receive regulatory and commercial milestones and tiered royalties. Antares' leadership team Antares is led by the former Scorpion executive team, including leaders with accomplished track records in the biotechnology industry: Adam Friedman, M.D., Ph.D., Chief Executive Officer Natasja Brooijmans, Ph.D., Executive Vice President, Discovery Predictive Sciences Mark Chao, M.D., Ph.D., Chief Medical Officer Andrew Fedder, General Counsel Angel Guzman-Perez, Ph.D., Executive Vice President, Head of Chemistry Erica Jackson, Ph.D., Chief Scientific Officer Darrin Stuart, Ph.D., Chief Development Officer Amanda Valentino, Chief People Officer The company's Board of Directors are industry veterans with company-building expertise, as well as experience pioneering breakthrough medicines: Jeff Albers, J.D., M.B.A., Board Chair at Antares Therapeutics and Venture Partner at Atlas Venture Shelley Chu, M.D., Ph.D., Partner at Lightspeed Venture Partners Keith Flaherty, M.D., Director of Clinical Research at Massachusetts General Hospital Cancer Center and Professor at Harvard Medical School Jean-François Formela, M.D., Partner at Atlas Venture Adam Friedman, M.D., Ph.D., Chief Executive Officer of Antares Therapeutics Sir Menelas Pangalos, Ph.D., formerly Executive Vice President of Biopharmaceuticals R&D at AstraZeneca "After years of investment into its proprietary drug discovery capabilities, the team at Antares has made notable progress to unlock the therapeutic potential of targets long seen as important – but undruggable – like the large class of transcription factors," said Sir Menelas Pangalos, Ph.D., independent member of the Antares Board. "I look forward to partnering with the Antares team as they address some of the most complex challenges in science." "Antares will build on what Scorpion started: combining cutting edge computational and experimental chemistry and biology with laser-focused clinical development," said Keith Flaherty, M.D., Director of Clinical Research at Massachusetts General Hospital Cancer Center. "This team has demonstrated an ability to break through longstanding limits in medicinal chemistry to advance a pipeline of first-in-class assets, aiming to change the treatment landscape for patients." About Antares Therapeutics Antares Therapeutics is a biotechnology company developing transformational, first-in-class precision medicines with a focus on validated, undruggable targets in cancer and other serious diseases with large unmet need. Antares' most advanced program is expected to enter the clinic in 2026, with multiple additional programs in preclinical development. To learn more, visit and follow us on LinkedIn. View source version on Contacts Media:Emily Investor:Danielle DudgeonPrecision Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Bloomberg
06-05-2025
- Business
- Bloomberg
Danish Obesity Startup Ousia Gets Funds From US Investor Omega
The US venture capital firm Omega Funds is backing a Danish biotech startup, betting it can deliver a new type of obesity treatment. The Boston-based investor made a 'substantial' investment in Ousia Pharma, it said Tuesday without disclosing the amount. The company's research could tackle some of the limitations of existing obesity medicines, Omega Funds said.
