Goldman Sachs Establishes $650M Fund for Biotech Innovation

Goldman Sachs Asset Management launches a $650M life sciences fund, focusing on growth-oriented private equity investments in early- to mid-stage therapeutics companies, tools and diagnostics companies. Five biotech companies have already secured funding from the fund. Goldman Sachs aims to invest in companies at the forefront of innovative technologies and approaches to diagnosing and treating diseases, focusing on precision medicine, genetic medicine, cell therapy, immunotherapy, synthetic biology, and artificial intelligence. The fund will be managed by Goldman Sachs Asset Management's Life Sciences Investing Group, led by Chief Investment Officer Amit Sinha.