Pfizer, Moderna say biotech, pharma drug development is a sprint

ARCH Venture Partners, one of the top investors in the biotech ecosystem, is raising $3 billion for a new fund.

The Chicago-based firm filed paperwork with the Securities and Exchange Commission this week for what would be its 13th namesake fund. Arch estimated it would raise around $3 billion — roughly the same amount it raised during its more recent fundraising in 2022.

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Arch declined to comment on the new fundraising.

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