Market Overview

Gossamer Bio Announces $230 Million Series B Financing

Share:
  • Co-Founder & current Chief Operating Officer Sheila Gujrathi, M.D.,
    appointed Chief Executive Officer
  • Co-Founder & current Chief Executive Officer Faheem Hasnain becomes
    Executive Chairman

Gossamer Bio Inc. ("Gossamer Bio"), a privately held biotechnology
company focused on the discovery and development of novel and
differentiated therapeutic products to address high unmet need, today
announced the closing of a $230 million Series B preferred stock
financing led by Hillhouse Capital.

New investors participating in this financing include among others, a
wholly-owned subsidiary of the Abu Dhabi Investment Authority (ADIA),
Invus, The Baupost Group and Polaris Partners. Gossamer Bio's existing
investors, ARCH Venture Partners and Omega Funds, also meaningfully
participated. Proceeds from this financing will be used to continue the
rapid growth of the company, progress clinical trials for multiple early
and late-stage drug candidates, and to secure additional business
development opportunities.

The Hillhouse Capital team stated, "We are excited to partner with the
fantastic management team at Gossamer Bio. Hillhouse has long been
committed to working with experienced entrepreneurs to advance global
patient care. We look forward to working with Gossamer Bio to further
its exciting pipeline and to bring these important medicines to patients
faster."

In connection with the financing, Gossamer Bio further announces that
Sheila Gujrathi, M.D., Co-Founder and current President & Chief
Operating Officer, has become the Chief Executive Officer, and
Co-Founder Faheem Hasnain becomes full time Executive Chairman.

"I am incredibly honored to lead the Gossamer Bio team through this next
chapter of growth" said Dr. Gujrathi. "This significant financing from a
committed, knowledgeable, and sophisticated investor syndicate positions
us well to continue development of our programs. With Faheem's continued
partnership, we look forward to creating value for investors while
helping patients who are suffering."

"I could not be more excited for Sheila or more confident in her
abilities as she leads the company going forward," said Mr. Hasnain. "I
look forward to continue working alongside her, our world-class team,
and incredible syndicate of supportive investors."

About Gossamer Bio:

Gossamer Bio is a San Diego-based biopharmaceutical company focused on
discovering, developing, and commercializing immunology-based
therapeutics in the autoimmune, allergy/inflammation, and
immuno-oncology disease areas. Our goal is to improve the lives of
patients suffering from disease. We aim to create a business that allows
value creation and capture at the individual asset level, long-term
sustainability, and continuity. More information can be found at www.gossamerbio.com.

About Hillhouse Capital:

Founded in 2005, Hillhouse Capital is a firm of investment professionals
and operating executives who are focused on building and investing in
high quality business franchises that achieve sustainable growth.
Independent proprietary research and industry expertise, in conjunction
with world-class operating and management capabilities, are key to its
investment approach. Hillhouse Capital partners with exceptional
entrepreneurs and management teams to create value, often with a focus
on Asia. Hillhouse Capital invests in the healthcare, consumer, TMT,
advanced manufacturing, financial and business services sectors in
companies across all equity stages. Hillhouse Capital and its group
members manage more than US$50 billion in assets on behalf of
institutional clients such as university endowments, foundations,
sovereign wealth funds, and family offices.

View Comments and Join the Discussion!