Flagship Pioneering led a $370m Series B round in Generate Biomedicines.

Flagship Pioneering, a venture capital firm, led a $370m Series B round in Generate Biomedicines, a biotechnological company. Additional investors included Alaska Permanent Fund, Altitude Life Science Ventures, ARCH Venture Partners, Fidelity Management & Research Company, Morningside Ventures, and T. Rowe Price Associates. “Generate is deploying machine learning at scale to understand the genetic code underlying the function of proteins. We are pioneering the field of Generative Biology – a revolutionary approach to drug development that allows us to program novel protein therapeutics capable of performing almost any desired biological function. Since launch, we have made incredible strides in advancing our technology platform and will have multiple preclinical programs by year-end with several in the clinic in 2023. With financial support from a world-class group of committed co-investors, we will rapidly scale our organization and begin to realize the transformational power of our platform," Mike Nally, Generate Biomedicines CEO.