[Adobe]
In early 2022, secretive Altos Labs stunned with a record $3 billion launch to pursue anti-aging “cellular rejuvenation” amid rumors of Jeff Bezos’ backing.But a roundup of the 25 private healthcare and biotech companies that raised the most money in recent decades reveals a landscape of grand ambitions to disrupt healthcare. There are also some cautionary tales.
Included in the mix is scandal-plagued and now-liquidated Theranos, which raised a total of $1.4 billion in the early 2000s from prominent investors by fraudulently claiming to have game-changing blood testing technology.
Another company facing scrutiny is Devoted Health, a Medicare Advantage insurer that raised $1.9 billion aiming to reinvent senior care through technology and patient-centered approaches. STAT, however, noted that the company has yet to turn a profit after five years. And then there is Grail, wh…