SR One, a life sciences investment firm spun out of biotech giant GlaxoSmithKline, raised $600 million to close its second venture fund.
The fund surpassed its original target of $500 million. With this fund, SR One will continue on its mission to target companies working to close gaps in treatment, according to a March 27 SR One news release.
Since spinning out of GSK in 2020, SR One has $1.5 billion under management.
"We received an incredible response to the fund and are grateful to our limited partners for their continued support and confidence in our team," SR One co-founder and CEO Simeon George, MD, said in the release. "SR One's model is built upon active collaboration and our ability to roll up our sleeves and help build value through multiple inflection points. We seek to partner with entrepreneurs building elite biotechnology companies, and we look forward to the potential development of new medicines for patients that [this fund] may help bring to the market."