PSP, CPPIB invest in biotech, OMERS Ventures in U.S. residential real estate
BY Staff | June 25, 2020
The Public Sector Pension Investment Board and the Canada Pension Plan Investment Board both participated in the initial round of financing for Seattle-based Sana Biotechnology, Inc.
Along with other investors, the initial financing comes to over US$700 million and aims to help the company bolster its core platforms, namely gene delivery, immunology, stem cell biology and gene modification and control.
“Sana is dedicated to modulating genes in cells as well as replacing damaged cells in the body,” said Steve Harr, the company’s president and chief executive officer, in a press release. “The commitment from this group of long-term investors enables us to concentrate on making discoveries that overcome the most important challenges to making gene and cell therapies that improve the lives of a broad swath of patients. I am proud of our progress to date in turning our technologies into potential therapies for serious diseases such as cancer, central nervous system diseases, heart disease and various genetic disorders.”
In other investment news, OMERS Ventures, the venture capital arm of the Ontario Municipal Employees Retirement System, led a US$10.5 million series A extension funding round for U.S. residential real estate firm, Landed. As part of the deal, Michael Yang, managing partner at OMERS Ventures, will join Landed’s board.
Landed provides shared-equity down-payment programs for essential workers, starting with educators, who are seeking to purchase homes in the communities where they work. Through the program, Landed co-invests in real estate with the educators, helping them reach a 20 per cent downpayment in a home, funding up to US$120,000 per household. Landed’s investment takes the form of equity, whereby it shares a portion of the gain or loss of the value of the home upon its being sold or refinanced.
“Landed has a unique mission to help essential professionals find a path to home ownership, including through its dedicated team of agents and experts,” said Michelle Killoran, principal and property technology specialist at the OMERS, in a press release.