Funding round
LifeMine Series A
LifeMine, which works in top-down drug discovery services in Cambridge, raised $55M in a Series A round announced on 18 Sep 2017, led by WuXi Healthcare Ventures. 7 firms took part. It is LifeMine's second venture round on record; the one before was a Seed in Jan 2016.
$55M
Amount raised
Not disclosed
Post-money valuation
7
Investors
1 lead
Valuation
What this round says about the price
LifeMine did not disclose a valuation in this round. It came 20 months after LifeMine's Seed. It is 8.8% of the $623M LifeMine has raised in the venture rounds on record. LifeMine raised again 40 months later: a Series B round of $50M in Jan 2021.
LifeMine's funding rounds
LifeMine has 6 venture rounds on record. This one is highlighted.
- Seed 12 Jan 2016, led by WuXi Healthcare Ventures $5.0M
- Series A this round 18 Sep 2017, led by WuXi Healthcare Ventures $55M
- Series B 8 Jan 2021, led by Milky Way Investments $50M
- Series C 23 Mar 2022, led by Fidelity Management & Research Company $175M
- Series D 6 Aug 2026, led by Milky Way Investments $75M
- Series E 7 Aug 2026, led by Milky Way Investments $263M
Investors
Who put money in
WuXi Healthcare Ventures led the round with 6 other firms.
Lead investor
- WuXi Healthcare Ventures new investor
Also in the round
- backs 39 venture-backed companies new investor
- ARCH Venture Partners backs 99 venture-backed companies new investor
- backs 14 venture-backed companies new investor
- Blue Pool Capital new investor
- backs 16 venture-backed companies new investor
- Alexandria Venture Investments new investor
Joined the board: Edward Hu (WuXi Healthcare Ventures), James Tananbaum (Foresite Capital), Krishna Yeshwant (GV), Yanling Cao (Boyu Capital) and Rick Klausner (Juno Therapeutics, GRAIL, and Mindstrong).
Use of proceeds
What the money is for
According to the announcement, the money goes to product development.
- Product development
Comparable rounds
How it compares
57 Series A rounds in Biotechnology within a year either side disclosed an amount; the median was $10M, and this round was 5.5 times the median. The closest in time, other companies' Series A rounds in Biotechnology:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Biotechnology | 25 Sep 2017 | $13M | not disclosed | Khosla Ventures |
| Biotechnology | 12 Sep 2017 | $13M | not disclosed | Illumina Ventures |
| Biotechnology | 12 Sep 2017 | $8.0M | not disclosed | Cowin Venture Capital and Fosun Industrial Co., Limited |
| Biotechnology | 29 Sep 2017 | $5.5M | not disclosed | not named |
| Biotechnology | 14 Sep 2017 | undisclosed | not disclosed | Longview International, Ltd. |
| Biotechnology | 6 Oct 2017 | $10M | not disclosed | not named |
| Biotechnology | 17 Oct 2017 | $10M | not disclosed | Mayfield |
| Biotechnology | 19 Oct 2017 | $6.5M | not disclosed | Omidyar Network |
Sources
Where this comes from
Reported by 2 sources.
Questions
Frequently asked
How much did LifeMine raise in its Series A round?
LifeMine raised $55M in its Series A round, announced in Sep 2017.
Who led LifeMine's Series A round?
WuXi Healthcare Ventures led it, with Foresite Capital, ARCH Venture Partners, Boyu Capital, Blue Pool Capital and MRL Ventures Fund and 1 more.
What was LifeMine's valuation at the Series A round?
It was not disclosed.
How does it compare with other Series A rounds in Biotechnology?
57 Series A rounds in Biotechnology within a year either side disclosed an amount; the median was $10M, and this round was 5.5 times the median.
Did LifeMine raise again after this round?
Yes: a Series B round in Jan 2021 of $50M.