Press Release November 18, 2021

Generate Biomedicines Completes $370 Million Series B

The Life Sciences team advised Generate Biomedicines in the completion of its $370 million Series B financing to advance the development of its novel drug generation platform. The financing round included the company’s founder, Flagship Pioneering, along with several institutional co-investors, including: a wholly-owned subsidiary of the Abu Dhabi Investment Authority, the Alaska Permanent Fund, Altitude Life Science Ventures, ARCH Venture Partners, Fidelity Management & Research Company LLC, Morningside Ventures, and funds and accounts advised by T. Rowe Price Associates.

Generate Biomedicines is the first drug generation company, pioneering a machine learning-powered biomedicines platform with the potential to generate new drugs on demand across a wide range of biologic modalities — from short peptides to complex antibodies, enzymes, cytokines, and yet to be described protein compositions.

The Goodwin team was led by Stuart Cable, Joseph Theis and Robert Dzialo and included Monique Noel and Ryan Donahoe.

For additional details on the financing, please read the press release.