SoftBank Group Corp. is all set to expand its investments in the healthcare and biotech sector. This will open up a new front in its management strategy as well as a growing asset. SoftBank, which has invested a significant amount in the healthcare sector, is now eyeing at biotech industry, as it has seen a humungous growth in recent times. The firm is planning to invest a whopping sum of $312 million stakes in California-based Pacific Biosciences.
Pacific Biosciences is a DNA-sequencing company; its stock price has risen ninefold since 2020. SoftBank is also planning to spend billions investing in public biotech companies. The investment is being made by the firm's asset management arm called SB Northstar. This investment will provide biotech firms to develop new strategies and ideas to take their company to a better position.
SoftBank is now primarily aiming to fund many public biotech sectors. The firm also plans to invest in some of the renowned biotech companies such as 10x Genomics and Roivant Sciences. It also has an equity stake worth $298 million in Canada-based antibody-drug discovery platform AbCellera Biologics Inc., which is a small investment in 4D molecular therapeutics. The firm is planning to improve its equity stack further.