Longwood Fund Closes $180 Million Fund to Create and Invest in Early-Stage Biotechnology Companies

Longwood Fund General Partners Christoph Westphal and David Steinberg

BOSTON, May 3, 2023 (Newswire.com) - Longwood Fund, a venture capital firm dedicated to creating and investing in science-based companies that develop novel solutions to treat important unmet medical needs, today announced the closing of its sixth fund with $180 million committed to the fund and related vehicles, representing the firm's largest fund to date. 

"We are grateful to our limited partners for their ongoing support of Longwood Fund and the Longwood team. With our sixth fund, we have the privilege of supporting transformative therapies for patients in need and continuing our mission to translate ground-breaking scientific innovation into important new medicines," said Christoph Westphal, MD, PhD, co-founder and General Partner of Longwood Fund. "This fund exceeded our target raise and will allow us to continue focusing on investing in Longwood-founded companies as well as early financing rounds brought to us by our network of top-tier syndicate partners. We are excited to continue working with leading academic researchers and entrepreneurs on cutting-edge technology to create world-class life science companies that will develop the next generation of drugs for patients."

Now with more than $650 million in assets under management, Longwood Fund is fortunate to have investors that have championed the Fund since its founding in 2010. The Partners at Longwood Fund have co-founded 24 companies with more than 20 launched or marketed products, with an additional two dozen assets in clinical trials. Companies founded by the Longwood Fund principals while at the Firm or prior to its formation, typically as lead investor and CEO or CBO, include Alnylam, Acceleron, Momenta, Vertex, Sirtris, Vor, TScan, Pyxis Oncology, Immunitas, Be Biopharma, Tome Bio, Photys, Carbon Biosciences, and DEM BioPharma.

"Longwood is strategically positioned to create and invest in life science companies with transformational technologies, benefiting patients and yielding strong investor returns. With decades of life science investing and operating experience, our team excels even in challenging market conditions like today's," said Longwood General Partner David Steinberg. "The current disconnect between abundant scientific innovation and limited available capital creates a unique opportunity to build and grow the early-stage programs that will generate tomorrow's therapies."

Longwood Fund 

Longwood Fund is a venture capital firm dedicated to creating and investing in novel healthcare companies that develop important treatments to help patients while generating significant value for investors. The Longwood team has a long history of successfully launching and building important life science companies while providing operational leadership and strategic guidance. Collectively, the Partners at Longwood Fund have co-founded 24 companies with over 20 launched or marketed drugs and therapies, as well as over two dozen clinical-stage assets, all focused on helping patients in need. Companies founded by Longwood Fund, or its principals prior to the founding of the Firm, as lead investor and CEO/CBO, include Acceleron, Momenta, Alnylam, Vertex, Sirtris, Vor, TScan, Pyxis Oncology, Immunitas, Be Biopharma, Tome Bio, Photys, Carbon Biosciences, and DEM BioPharma. For more information, visit www.longwoodfund.com. 

As part of the Longwood Healthcare Leaders series, Longwood hosts semiannual industry conferences with thought leaders and decision-makers in government, pharma, biotech, and academia for off-the-record forums at institutions including Harvard Medical School and MIT to discuss areas of collaboration and access to innovation in order to accelerate the translation of discoveries into medicines to help patients. For more information, visit www.longwoodhealthcareleaders.com.