Repare Therapeutics backer Amplitude Ventures has unveiled a second fund, securing $192 million that will be dedicated to the development of new precision medicines.
The Canada-based VC will channel the cash toward companies that incorporate both biology and artificial intelligence in drug development. Since 2019, Amplitude has set out to create and build companies, including Repare Therapeutics, which IPO'ed in 2020 and was one of Canada’s largest biotech public market debuts at the time.
Amplitude has already put down four of up to 16 planned investments from the new fund, funneling money to inflammatory-disease-focused Evommune; conditional multi-specifics company Tentarix Biotherapeutics; antibody-based platform biotech Reverb Therapeutics; and antibody discovery company Evolved Therapeutics.
The VC also inked (PDF) a partnership with Germany-based Evotec back in October 2023. Amplitude’s venture studio, dubbed Pre-Amp, is slated to use Evotec’s drug discovery platform to accelerate the formation of new companies.