Funding round
LifeMine Series C
LifeMine, which works in top-down drug discovery services in Cambridge, raised $175M in a Series C round announced on 23 Mar 2022, led by Fidelity Management & Research Company. 8 firms took part, 4 of them already investors. It is LifeMine's fourth venture round on record; the one before was a Series B in Jan 2021.
$175M
Amount raised
Not disclosed
Post-money valuation
8
Investors
1 lead
Valuation
What this round says about the price
LifeMine did not disclose a valuation in this round. It came 14 months after LifeMine's Series B. It is 28% of the $623M LifeMine has raised in the venture rounds on record. LifeMine raised again 53 months later: a Series D round of $75M in Aug 2026.
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 8 Jan 2021, led by Milky Way Investments $50M
- Series C this round 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
Fidelity Management & Research Company led the round with 7 other firms. GV, ARCH Venture Partners, Blue Pool Capital and MRL Ventures Fund had backed LifeMine before.
Lead investor
- Fidelity Management & Research Company new investor
Also in the round
- Invus backs 83 venture-backed companies new investor
- 3W Partners Capital new investor
- GlaxoSmithKline (GSK) new investor
- GV backs 428 venture-backed companies existing investor
- ARCH Venture Partners backs 99 venture-backed companies existing investor
- Blue Pool Capital existing investor
- backs 16 venture-backed companies existing investor
Use of proceeds
What the money is for
According to the announcement, the money goes to product development, scaling operations and working capital.
- Product development
- Scaling operations
- Working capital
Comparable rounds
How it compares
50 Series C rounds in Biotechnology within a year either side disclosed an amount; the median was $84M, and this round was 2.1 times the median. The closest in time, other companies' Series C rounds in Biotechnology:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Biotechnology | 30 Mar 2022 | $100M | not disclosed | SoftBank Vision Fund |
| Biotechnology | 1 Mar 2022 | $20M | not disclosed | not named |
| Tessera Therapeutics Biotechnology | 19 Apr 2022 | $300M | not disclosed | SoftBank Vision Fund |
| Biotechnology | 3 Feb 2022 | $150M | not disclosed | SoftBank Vision Fund |
| Biotechnology | 9 Feb 2022 | $140M | not disclosed | SoftBank Vision Fund and RA Capital |
| Biotechnology | 12 Apr 2022 | $120M | not disclosed | Deerfield |
| Biotechnology | 21 Apr 2022 | $7.0M | not disclosed | Codexis, Inc. |
| Kriya Therapeutics Biotechnology | 16 May 2022 | $270M | not disclosed | Patient Square Capital |
Sources
Where this comes from
Reported by 2 sources.
Questions
Frequently asked
How much did LifeMine raise in its Series C round?
LifeMine raised $175M in its Series C round, announced in Mar 2022.
Who led LifeMine's Series C round?
Fidelity Management & Research Company led it, with Invus, 3W Partners Capital, GlaxoSmithKline (GSK), GV and ARCH Venture Partners and 2 more.
What was LifeMine's valuation at the Series C round?
It was not disclosed.
How does it compare with other Series C rounds in Biotechnology?
50 Series C rounds in Biotechnology within a year either side disclosed an amount; the median was $84M, and this round was 2.1 times the median.
Did LifeMine raise again after this round?
Yes: a Series D round in Aug 2026 of $75M.