VC firm Pivotal closes second $389M therapeutics fund to create companies and back public biotechs

Pivotal bioVenture Partners Fund II has fully closed at $389 million, and the Bay Area firm still has more than 75% of that funding to deploy after a first close during the “peak of the market” in mid-2021, managing general partner Rob Hopfner told Endpoints News.

The fund, unveiled Monday morning, is about $90 million larger than its first go-around, which was disclosed in March 2017. Pivotal bioVenture Partners has since created companies out of academic research, like schizophrenia and CNS drugmaker MapLight; formed biotechs based on asset carve-outs from Big Pharma, like Evommune; and backed public biotechs like Vaxcyte, which has raised large amounts of money for late-stage trials of its pneumococcal vaccine, which could compete with Pfizer’s Prevnar.

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来源: EndPoints

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