Arie Belldegrun Launches Science-First Credit Platform with $600M ###

Launch of Symbiotic Capital::
Symbiotic Capital, a new life science credit company, has launched with a fund of over $600 million for life science-specific loans.

Leadership::
The company is co-chaired by Arie Belldegrun, a veteran biotech entrepreneur and founder of Kite Pharma, and Russell Goldsmith.

Mission::
Symbiotic Capital aims to provide credit solutions tailored to life science companies, addressing the increasing costs of research, development, and commercialization in the sector.

Expertise::
The company boasts a team with deep sector fundamentals and expertise, including former Roche CEO Franz Humer and former Cleveland Clinic CEO Toby Cosgrove.

Initial Loans::
Symbiotic has already provided loans to companies like Accelus and Cleveland Diagnostics since January 2024.

Market Context::
The life sciences sector often relies on venture capital or private equity due to the complexity and regulatory challenges in traditional lending. Symbiotic joins a small group of companies specializing in life science debt financing, including Hercules Capital and Blackstone.

Market Sentiment::
Despite recent turbulence in the deal landscape, there is optimism about biotech funding bouncing back in the next 12 months, according to GlobalData’s State of the Biopharmaceutical Industry 2024 report.