02:46 PM EDT, 08/21/2024 (MT Newswires) -- BridgeBio Pharma ( BBIO ) said it has established GondolaBio joint venture on Aug. 16 to research, develop, manufacture and commercialize pharmaceutical products.

The joint venture is created with $300 million from investors including Viking Global, Patient Square Capital, and Sequoia Capital, the firm said in a regulatory filing with the US Securities and Exchange Commission.

BridgeBio said it contributed to some early-stage and pre-clinical stage programs in the areas of erythropoietic protoporphyria, Alpha-1 antitrypsin deficiency, and tuberous sclerosis complex and will hold an initial interest of 45% in the venture.

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