ARCH Enterprise Companions has closed a $2.975 billion fund focused for early-stage biotech firms. The agency’s twelfth enterprise fund comes on the heels of an almost $2 billion fund introduced in January 2021 and launches amidst a biotech bear market. “Science doesn’t care what markets are doing, and science strikes ahead,” mentioned ARCH cofounder and managing director Robert Nelsen in a assertion asserting the fund Wednesday. ARCH has workplaces in Seattle and is a backer of Seattle-area giants Sana Biotechnology and Lyell Immunopharma. ARCH was additionally a key investor in Seattle’s Juno Therapeutics, which was acquired by Celgene in 2018 in a deal value greater than $9 billion.