Industry veterans launch new biotech VC with $310M

Three biotech venture capital veterans, including a co-founder of RayzeBio, have launched a new investment fund called Scion Life Sciences. They raised $310 million for the fund, surpassing their original $250 million target. Scion will take a longer approach than most venture capital firms, with a 20-year plan for its first fund, instead of the typical 10-year timeframe. The founders of Scion are aiming to take a different approach to biotech venture capital and plan to work on a significantly longer timescale.

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