Endpoints News
Market Commentary: In search of 'household healthcare brands of the future,' Foresite Capital raises $969M to satiate a tech-heavy appetite
Endpoints News

Back in April 2018, just before Foresite Capital unveiled its $668 million Fund IV and a strategy to focus on tech-driven life science bets, one of its portfolio companies quietly made an announcement.

Fount Therapeutics, a drug discovery outfit backed by Foresite and Eshelman Ventures, had raised $22 million in Series A cash to hatch several fledgling spinouts. “The first ‘NewCo,’ Kinnate, will be focused on developing precision oncology treatments,” read a press release.

Foresite would go on to participate in all of Kinnate’s subsequent rounds, ultimately helping scale the kinase inhibitor specialist to a $240 million IPO and covering the full breadth of early-through-late-stage investments that the San Francisco-based firm would like to make with the $969 million it’s raised for its fifth — and largest to date — fund.

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