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Biotech and life sciences investors continue to draw in new funds even as the biotech stock indexes reach new lows.

On Wednesday, VC firm Bioluminescence Ventures launched with $477 million to invest in biotech startups. The firm was founded by Kouki Harasaki, who was previously a partner at M12, Microsoft’s corporate venture group, and Andreessen Horowitz. He also has a track record at pharmaceutical companies like Novartis and Baxalta.

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Bioluminescence joined at least four other firms — OrbiMed, Sofinnova Partners, Abingworth, and Revelation Partners — in announcing new pools of capital in the last two weeks. Together, they have raised $5.94 billion.

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