Biotech mogul Arie Belldegrun extends empire with launch of $600M credit firm

Arie Belldegrun has one more job: He needs to be your lender.

On Tuesday, Belledegrun and his workforce introduced they’ve raised greater than $600 million for a brand new life science credit score agency known as Symbiotic Capital. Symbiotic mentioned it can present loans to biotechs, firms manufacturing medical gadgets and well being care instruments, sequencing corporations, and artificial biology firms, and extra. On the subject of drug firms, the agency will primarily deal with firms which have candidates in Part 2 or Part 3 medical trials or industrial merchandise.

Symbiotic, which is predicated out of Belldegrun’s funding workplace in Los Angeles, is simply the newest outpost in his empire.