10 biotechs become 1: Centessa launches with $250M to prove unorthodox R&D model

An unusual new company, launched Tuesday with $250 million in funding, plans to try a different approach to achieving the same goal. Created from a merger of 10 startups backed by U.K. life sciences investment firm Medicxi, Centessa Pharmaceuticals aims to build the infrastructure of a larger drugmaker around each of its component companies, which will be run as largely autonomous subsidiaries.