Cure Ventures, a life science venture capital firm focused on building companies around innovative curative technologies, has closed its inaugural fund, Cure Ventures Fund I, LP, with a targeted capital commitment of $350 million.
The fund is backed by a syndicate of US-based and international investors that includes state and municipal public pension funds, foundations and endowments, funds-of-funds, hospital and healthcare systems, sovereign wealth funds and family offices.
Cure Ventures focuses on early-stage investments in life sciences and biotechnology, especially focusing on new therapeutics. The Cure approach also includes genetic validation as part of an iterative process to guide drugs through development, increasing the probability of success and reducing the cost of failure. Embedded Cure operators will work alongside portfolio company founders to drive day-to-day decision making.
“Biofarma’s venture capital is a risk management company that demands thoroughness, perseverance and patience,” said Richard Lim, co-founder and managing partner of Cure Ventures.
“At Cure, we don’t just sign checks. We are committed to working closely with founders to collaborate and operationalize capital, making us a true sweat equity partner. We look forward to sharing more about our investment in the near future.”
Model Cure Ventures
Cure leverages its seed funding model, which it says allows for the critical risk-eliminating activities – a critical step in the initial drug development process – that make the company successful in the clinic and beyond. As part of this process, Cure said it will follow up and co-chair the next Series A and B rounds of promising companies, seeing those companies through to exit.
“We founded Cure with a big ambition: eradicating debilitating and ending lives with curative technologies,” said David Fallace, co-founder and managing partner.
“We know it is people who drive the development of life-changing therapies, not capital. This is why we are committed to continuously interrogating and validating technology to find the best way forward in collaboration with founders.”
Cure Ventures was founded by Lim, Fallace and Lou Tartaglia. Managing partners have played a key role in the success of several biotechnology companies, including Juno Therapeutics, Agios Therapeutics, Nuvation Bio and others.
“Cure has great respect for the scientists whose lifework we want to support. In fact, we consider ourselves their partners, because we understand what they are going through,” said Tartaglia, co-founder and managing partner.
“Our team has personally tackled the types of challenges faced by early-stage companies, and we bring decades of drug discovery and operational experience to support our portfolio companies as they reduce their science, growth, and scale risks.”
The new funding comes after the announcement by SR One, a transatlantic life sciences investment firm, that it announced the closing of its second funding for a biotech company valued at more than $600 million.