Life science investors close nearly $6 billion in new funds

Biotech and life sciences investors continue to draw in new funds even as the biotech stock indexes reach new lows.

On Wednesday, VC firm Bioluminescence Ventures launched with $477 million to invest in biotech startups. The firm was founded by Kouki Harasaki, who was previously a partner at M12, Microsoft’s corporate venture group, and Andreessen Horowitz. He also has a track record at pharmaceutical companies like Novartis and Baxalta.

Bioluminescence joined at least four other firms — OrbiMed, Sofinnova Partners, Abingworth, and Revelation Partners — in announcing new pools of capital in the last two weeks. Together, they have raised $5.94 billion.

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