BOSTON, MA, Vida Ventures, a next-generation life sciences venture firm, today announced that it co-led the $105 million Series A financing round for Kronos Bio.
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Vida played a prominent role as a seed investor in the launch of Kronos in May 2018. This Series A round of financing, supported by both legacy and new investors, exceeded its capital-raising goals based on the enthusiasm for the potential of the Kronos small molecule microarray (SMM) platform and the Kronos team to rapidly discover therapies for targets previously considered undruggable.
"In the last year, Kronos has done an incredible job of advancing their SMM platform beyond the academic setting to uncover development opportunities on a broader scale. We are steadfast supporters of the Kronos team and their collective effort to advance first-in-class therapies into the clinic," said Stefan Vitorovic, Co-Founder and Managing Director.
Vida was founded by a group of scientists, physicians, entrepreneurs and investors passionate about building and supporting breakthroughs in biomedicine. Vida founders include Arie Belldegrun, M.D., FACS, Fred Cohen, M.D., D.Phil, Leonard Potter, Arjun Goyal, M.D., and Stefan Vitorovic. Its inaugural fund currently has $355 million in assets under management from like-minded, long-term investors.
"Our investment in Kronos is representative of what we aim to do with our fund at large - embrace cutting edge innovation, regardless of stage or therapeutic area, that has the potential to make a meaningful difference in the lives of patients," said Arjun Goyal, M.D., Co-Founder and Managing Director.
Vida's select investment portfolio consists of companies such as Allogene Therapeutics, AskBio, Homology Medicines, and Peloton Therapeutics, among others.
About Vida Ventures
Vida Ventures is a next-generation, bi-coastal life sciences investment firm founded in 2017 by a group of scientists, physicians, entrepreneurs and investors passionate about building and funding breakthroughs in biomedicine. Together they form an independent, bold investment group bound together by a simple word - life. Its mission is to bring science to life and advance transformative biomedical innovations that have the potential to make a meaningful difference for patients. Vida has a bicoastal presence and currently has $355 million in assets under management from its inaugural fund. For more information on Vida Ventures, please visit www.vidaventures.com, on LinkedIn or follow on Twitter @Vida_Ventures.