TCG Labs-Soleil Raises Inaugural Fund of Over $400 Million

Launches a Novel ‘Venture-Biotech’ Model, Creating an Integrated Ecosystem To Exclusively Fund, Discover, and Develop Single-Asset Biologic Therapies

SAN FRANCISCO, Feb. 01, 2024 (GLOBE NEWSWIRE) -- TCG Labs-Soleil, in collaboration with The Column Group (TCG), today announced it has raised an inaugural fund of over $400 million. Designed to support the advancement of ideas from bench to clinical proof of concept, the TCG Labs-Soleil model comprises a dedicated venture fund (TCG Labs) and an evergreen, independent R&D hub led by a first-rate scientific team (Soleil) that establishes and oversees a suite of portfolio companies, each focused on individual single-asset programs. This integrated ecosystem nurtures promising biologic-focused discovery programs, strategically poised for transacting after clinical proof of concept.

Tim Kutzkey, a TCG Labs managing partner, commented, “The TCG Labs-Soleil model combines scientific, financial, and operational resources into one enterprise to enhance value creation. Further, it offers an investment strategy that complements TCG’s venture model, favoring an amalgam of single-asset programs over platform or pipeline approaches and building a single, exceptional R&D organization, rather than spreading resources across a portfolio of independent companies, each of which requires its own team.”

Comprising a distinguished team of scientists and industry leaders, TCG Labs-Soleil represents an exciting strategic alliance between TCG leadership and Dr. Jin-Long Chen. A driving force behind this new enterprise, Dr. Chen has assumed dual roles in the organization as Chief Executive Officer at Soleil and, together with Peter Svennilson and Dr. Tim Kutzkey from TCG, as a Managing Partner of TCG Labs. TCG’s Dr. David Goeddel, a prominent figure in the biotech industry and renowned researcher, serves as the Chair of the TCG Labs-Soleil Scientific Advisory Board.

Reflecting on the partnership with Dr. Chen, Mr. Svennilson said, “Collaborating with a friend and colleague of over twenty years, including Jin-Long’s time at Amgen, Tularik and NGM, is a rare opportunity. Since that time, Jin-Long has proven to be an extraordinary talent in drug discovery, with a track record of developing multiple new medicines that have significantly impacted patient care. Our shared history and his exceptional skills are vital in turning our vision into reality. I am confident that our collaboration on this forward-thinking model will bring forth remarkable advancements in the biotech sector.”

Dr. Chen added, “Collaborating with TCG leadership, Peter and Tim, adds an invaluable dimension to our approach to redefine the landscape of biotech innovation and create new medicines for patients. Our model aims to transform cutting-edge ideas, both from external partners like scientific founders and our Soleil R&D team, into meaningful human clinical data, moving them from initial concept to practical application. In addition, our focus on advancing early drug discovery to clinical proof of concept, strategically aligns with the pharmaceutical industry's preference to participate in strategic transactions that efficiently enable them to bring de-risked single-assets into existing, later-stage pipelines.”

Multifaceted Advantages

The TCG Labs-Soleil model offers several advantages, including:

  1. Efficient Execution of Biologics Drug Discovery and Early Development
    TCG Labs-Soleil actively seeks and incorporates innovative ideas from scientific founders, academic institutions, and companies with early-stage assets, providing unique access to Soleil's established drug discovery team and the support of TCG Labs' exclusive venture fund.

  2. Portfolio Companies Individually Focusing on Single-Asset Programs
    TCG Labs-Soleil forms and manages independent portfolio companies, with a focus on careful selection of drug targets and efficient project execution, to support early clinical successes. This approach streamlines the path from initial concept to clinical validation, effectively circumventing the need for multiple and syndicated rounds of financing and bypasses common operational challenges observed in early phases of biotech drug development.

  3. Strategic Transactions to Bring New Biologics to Patients
    Each independent asset is managed within the separate portfolio companies, enabling flexibility in strategic transitions, enhancing value creation opportunities for large biotech and pharmaceutical companies alike. This method also allows for a more agile response to market and scientific trends, ensuring relevance and competitiveness in the fast-evolving biotech landscape.

  4. One Lab, One Team: Evergreen R&D Engine
    TCG Labs-Soleil stands out as a premier workplace for drug hunters seeking a dynamic environment that fosters sustained productivity and creativity. Unlike traditional biotech models that often limit R&D teams to specific disease areas or biology, TCG Labs-Soleil thrives on a breadth of projects, and selectively advancing only the most promising programs for biologics-based drug discovery and development. Additionally, after project completion or strategic transaction, TCG Labs maintains its “one lab, one team” approach for continued innovation, thereby retaining expertise within the model’s ecosystem.

About TCG Labs-Soleil

At TCG Labs-Soleil, we are establishing a pioneering venture-biotech model in collaboration with The Column Group. Our mission is to efficiently translate scientific insights into therapeutic solutions for patients facing serious diseases. Our approach integrates a dedicated venture fund (TCG Labs) with an evergreen R&D hub led by top-tier scientists (Soleil). This creates a powerful ecosystem forming and overseeing independent portfolio companies, each dedicated to single-asset biologic programs, guiding them from ideation to clinical proof of concept and positioning them for strategic partnerships and transformative medical advancements. For more details, visit and follow us on LinkedIn.

Company Contact
Lucinda Y. Quan
Chief Operating Officer
TCG Labs-Soleil

Media Contact
Priyanka Shah
Elephant Head Communications, LLC
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