TCG Labs Soleil has secured $400 million to boost the firm’s ability to advance its biotech portfolio companies while also expanding its R&D capabilities globally.
The San Francisco-based company’s fundraise is the exact same size as its inaugural fund of $400 million last year, according to a July 24 release.
TCG Labs Soleil runs a venture-biotech model with its own R&D hub in collaboration with industry VC heavyweight The Column Group.
The firm aims to help single-asset biotechs move their candidates through clinical proof of concept, which often occurs in phase 2 trials. The company also works to position its portfolio biotechs as ideal candidates for strategic partnerships, according to the release.
The organization has expanded globally, establishing an R&D site in Shanghai. The move underscores the firm’s desire to create a worldwide network that supports both internally and externally sourced programs.
Just this May, TCG Labs Soleil’s Juri Biosciences offered EpimAb Biotherapeutics up to $210 million biobucks for exclusive licensing rights to the Chinese biotech’s T-cell engager designed to treat metastatic prostate cancer.
Since launching in 2024, TCG Labs Soleil has created more than 10 portfolio companies across several indications and modalities.
“The TCG Labs Soleil model gives us the flexibility and control to invest decisively in the highest-potential single-asset programs, while remaining agile in how and when we engage with biopharma partners,” Peter Svennilson, managing partner at TCG Labs, said in the release. “With this new funding, we can continue building the portfolio and position each program for success, whether through in-house development or an early strategic transaction.”
Editor's note: This story was updated at 1:50 p.m. ET to clarify the year TCG Labs Soleil emerged.