Centessa Pharmaceuticals, a young company with a goal of reinventing the traditional business model of drug research and development, has raised $330 million from its IPO to carry out its strategy. Centessa is a holding company that houses drug development subsidiaries. The firm formed in February, backed by $250 million in funding raised to support development of a pipeline assembled by merging 10 privately held biotech startups. Those subsidiaries operate separately, focusing on their respective drug programs yet sharing in centralized infrastructure, such as manufacturing and regulatory support, provided by Centessa. Source: Med City News 31/5/21