Aisling Capital raises $280M for life sciences work, down from previous funding

Aisling has backed the likes of Aimmune and Cidara.

New York venture firm Aisling Capital has raised a solid chunk of cash for later stage clinical biotechs as it looks to build on some of its recent successes.

But the $280 million it got this time is less than its last round when it raised $650 million in 2009 (amid the global recession).

One of its better-known backings is the $1.4 billion market cap Aimmune Therapeutics, which last year posted positive results from a midstage test of its oral immunotherapy AR101.

And last month, the California biotech announced a deal with Regeneron to test its allergy medication in combination with Sanofi/Regeneron’s Dupixent (dupilumab). Its shares have climbed from being worth around $16 last November to just under $30 as of yesterday.

Its portfolio also includes antifungal immunotherapy player and 2014 Fierce 15 company Cidara Therapeutics, sepsis diagnostics maker T2 Biosystems and Seragon Pharmaceuticals, which was bought by Roche a few years back for $725 million upfront (although this proved to be a misstep, as in April, Roche dumped work on the biotech’s leading drug, ARN-810).

And in September this year, it helped back early-stage California biotech BridgeBio Pharma in a $135 million round.

RELATED: BridgeBio Pharma gains $135M for genetic disease work

Aisling Capital says the $280 million will allow it “to continue helping clinical stage ventures improve global health by more rapidly bringing breakthrough medical treatments to market.”

The VC works by helping life science companies to complete their clinical studies, as well as navigate approval and get its med on the market.

“We're extremely excited about the fund's potential and remain dedicated to increasing the number of quality medical treatments in development across a broad range of therapeutic areas including oncology, aesthetic dermatology and women's health,” said Andrew Schiff, M.D., managing partner at Aisling Capital, in a release. “Over the last 17 years, we've helped bring to market some amazing medical innovations and look forward to getting these new treatments into the hands of people who need them as quickly and efficiently as possible.”