R&R Membrane Gets $2.5B for $1.4B in New Ventures: Sources
R&ambrane, Inc., a biotechnology company based in San Francisco, is closing a $1 billion round led by private equity firm Altice Capital, the company announced Tuesday.
The round, which included Altice, is expected to close in the fourth quarter of 2019.
The company is expected add more than $1,500 million to its existing funding to expand its reach to areas including medical devices and pharmaceuticals.
The round was led by Altice Partners, which acquired a 5.7% stake in R&ammbrane in November.
“R&.ambrana’s commitment to driving transformative change in healthcare and the biotechnology industry is as strong as ever,” Altice President and CEO Chris Anderson said in a statement.
“Our commitment to helping R&.ambronx accelerate its trajectory to the next phase of growth is evident in this round, and we look forward to working with R&AMbrane as we expand our global footprint and reach.”
The company also announced a $2 billion investment in the healthcare-focused drug startup Epi-Hormone Therapeutics, which is developing the drug to treat high blood pressure and a host of other conditions.
The investment was led largely by Altices investment arm Altice Ventures.
A $1B investment into a biopharmaceutical startup in the U.S. is a new milestone for the biopharma company, which previously closed its $2 million round in August 2017.
The acquisition of Epi is the company’s second major funding round.
As part of its announcement, R&ing said it would add a new $1 million round for biopharmacists.