Funding round
LifeMine Series B
LifeMine, which works in top-down drug discovery services in Cambridge, raised $50M in a Series B round announced on 8 Jan 2021, led by Milky Way Investments. 7 firms took part. It is LifeMine's third venture round on record; the one before was a Series A in Sep 2017.
$50M
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 40 months after LifeMine's Series A. It is 8.0% of the $623M LifeMine has raised in the venture rounds on record. LifeMine raised again 14 months later: a Series C round of $175M in Mar 2022.
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 18 Sep 2017, led by WuXi Healthcare Ventures $55M
- Series B this round 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
Milky Way Investments led the round with 6 other firms.
Lead investor
- Milky Way Investments new investor
Also in the round
- GV backs 428 venture-backed companies new investor
- WuXi Healthcare Ventures new investor
- backs 39 venture-backed companies new investor
- ARCH Venture Partners backs 99 venture-backed companies new investor
- Blue Pool Capital new investor
- backs 16 venture-backed companies new investor
Joined the board: William G. Kaelin Jr., M.D..
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
102 Series B rounds in Biotechnology within a year either side disclosed an amount; the median was $60M, and this round was 83% of the median. The closest in time, other companies' Series B rounds in Biotechnology:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Tessera Therapeutics Biotechnology | 12 Jan 2021 | $230M | not disclosed | SoftBank Vision Fund and Alaska Permanent Fund Corporation |
| Biotechnology | 27 Jan 2021 | $40M | not disclosed | Leaps by Bayer |
| Biotechnology | 21 Jan 2021 | $29M | not disclosed | not named |
| Biotechnology | 12 Jan 2021 | $21M | not disclosed | Baird Capital and Arboretum Ventures |
| Biotechnology | 4 Jan 2021 | $13M | not disclosed | The University of Tokyo Edge Capital Partners (UTEC) |
| Biotechnology | 25 Feb 2021 | $123M | not disclosed | not named |
| Biotechnology | 18 Feb 2021 | $90M | not disclosed | Lilly Asia Ventures |
| Biotechnology | 16 Dec 2020 | $80M | not disclosed | Redmile Group |
Sources
Where this comes from
Reported by 2 sources.
Questions
Frequently asked
How much did LifeMine raise in its Series B round?
LifeMine raised $50M in its Series B round, announced in Jan 2021.
Who led LifeMine's Series B round?
Milky Way Investments led it, with GV, WuXi Healthcare Ventures, Foresite Capital, ARCH Venture Partners and Blue Pool Capital and 1 more.
What was LifeMine's valuation at the Series B round?
It was not disclosed.
How does it compare with other Series B rounds in Biotechnology?
102 Series B rounds in Biotechnology within a year either side disclosed an amount; the median was $60M, and this round was 83% of the median.
Did LifeMine raise again after this round?
Yes: a Series C round in Mar 2022 of $175M.