British VC firm Medicxi has joined with General Atlantic and other investors to create Centessa Pharmaceuticals, a drug development company with an unconventional origin story.
- To form Centessa, Medicxi combined 10 biotech companies in its portfolio: ApcinteX, Capella BioScience, Janpix, LockBody, Morphogen-IX, Orexia Therapeutics, Palladio Biosciences, PearlRiver Bio, Pega-One and Z Factor. Each will continue to develop their own assets.
- Cambridge, Mass.-based Centessa is launching with $250 million in Series A funding led by General Atlantic, with participation from Vida Ventures and Janus Henderson Investors, among others. The financing is one of the largest Series A rounds for a biotech company, according to PitchBook data.
- Former Bristol Myers Squibb executive Saurabh Saha has been named CEO of Centessa. The company's chief scientific officer is Moncef Slaoui, a partner at Medicxi and former chief scientific adviser of Operation Warp Speed, the US government's coronavirus vaccine program.