Flagship Pioneering, the Boston-based biotech incubator and holding business, stated it has raised$1.1 billion for its Flagship Labs system.

Flagship, which raised $1 billion back in 2019 for growth-stage financial investment automobiles, establishes and runs startups that utilize biotechnology innovation to supply items and services that improve human health and promote sustainable markets.

“We’re honored to have the strong assistance of our existing Limited Partners, along with the interest from a select group of new Limited Partners, to support Flagship’s special type of company origination throughout this time of extraordinary economic unpredictability,” said Noubar Afeyan, the creator and chief executive of Flagship Pioneering, in a statement.

In addition to its previous focus on health and sustainability, Flagship will utilize the brand-new funds to focus on new medications, artificial intelligence and “health security,” which the company states is “created to create a variety of treatments and items to enhance social health defenses by treating pre-disease states before they escalate,” according to Afeyan.

Flagship companies are currently on the leading edge of the healthcare market’s efforts to stop the COVID-19 pandemic. Portfolio business Moderna is one of the companies leading efforts to establish a vaccine for the novel coronavirus which causes COVID-19.

In the 20 years because its launch, Flagship has 15 completely owned companies and another 26 growth-stage business amongst its portfolio of investments.

Brand-new companies include: Senda Biosciences, Generate Biomedicines, Tessera Therapies, Cellarity, Cygnal Rehabs, Ring Rehabs and Integral Health. Development companies established or backed by Flagship include Ohana Biosciences, Kintai Therapies and Repertoire Immune Medicines.

Two of the companies in the Flagship Labs portfolio have currently had initial public offerings in the past 2 years, the business stated. Kaleido Biosciences and Axcella Health raised public capital in 2019, and Moderna Therapies performed a $575 million secondary offering previously this year.

Article curated by RJ Shara from Source. RJ Shara is a Bay Area Radio Host (Radio Jockey) who talks about the startup ecosystem – entrepreneurs, investments, policies and more on her show The Silicon Dreams. The show streams on Radio Zindagi 1170AM on Mondays from 3.30 PM to 4 PM.