SoftBank plans to invest billions in businesses involved in biotechnology.
SoftBank Group Corp. is prepared to increase its investments in the biotech and healthcare industries. This will provide a fresh front in its management approach and a developing asset. The biotech industry has witnessed tremendous expansion in recent years, and SoftBank, which has made big investments in the healthcare industry, is now looking at it. The company intends to invest a staggering $312 million in Pacific Biosciences, a company based in California.
The stock price of Pacific Biosciences, a DNA-sequencing business, has increased ninefold since 2020. Additionally, SoftBank intends to invest billions of dollars in publicly traded biotech firms. SB Northstar, the company’s asset management division, is making the investment. This financing will enable biotech companies to create fresh plans and approaches to advance their business.
Currently, SoftBank’s primary focus is on funding numerous public biotech industries. The company also intends to make investments in other well-known biotech firms, including 10x Genomics and Roivant Sciences. It also has a small investment in 4D molecular therapies, a $298 million equity stake in the Canadian antibody-drug development platform AbCellera Biologics Inc. The company intends to further enhance its equity stack.