Arie Belldegrun has yet another job: He wants to be your lender.
On Tuesday, Belledegrun and his team announced they have raised more than $600 million for a new life science credit firm called Symbiotic Capital. Symbiotic said it will provide loans to biotechs, companies manufacturing medical devices and health care tools, sequencing firms, and synthetic biology companies, and more. When it comes to drug companies, the firm will primarily focus on companies that have candidates in Phase 2 or Phase 3 clinical trials or commercial products.
Symbiotic, which is based out of Belldegrun’s investment office in Los Angeles, is just the latest outpost in his empire.
