According to Crunchbase, biomedical startup Generate Biomedicines raised $370 million in a second round of investment in November 2021. The leading investors were American venture funds Altitude Life Science Ventures, ARCH Venture Partners, Flagship Pioneering, and Morningside Ventures, Fidelity Management. As part of the Generate Biomedicines venture round, which took place in September 2020, the company raised $50 million. This brings the company's total investment to $420 million crunchbase.com.

Generate Biomedicines emerged in 2018 as part of the innovation arm of the Flagship Pioneering Foundation, and its founders are Flagship Pioneering scientists Jeffrey von Malzahn, Gevorg Grigorian and Molly Gison. Under their leadership, Generate Biomedicines has developed a platform through which therapeutic proteins, peptides, and antibodies can be created.

The activities of Generate Biomedicines are related to the development of drugs based on therapeutic proteins. Therapeutic proteins are compounds that can replace and complement natural human proteins. They can be used to treat cancer, blood diseases, arthritis, metabolic diseases, and diseases of the human immune system. As the COVID-19 pandemic spreads, Generate Biomedicines has begun to develop candidate therapeutics.

Generate Biomedicines plans to use the received investments as part of the rounds to increase its staff from 80 to 500 people, and by 2023 the company plans to release the first drug.