Luma Group closed a $410 million life sciences fund targeting therapeutics, medical devices, diagnostics, and digital health across the US, Europe, and Israel, with an emphasis on companies from Series A through growth stages. The fund’s geographic reach signals continued appetite for cross-border platforms and enabling technologies. In parallel, Frazier Life Sciences secured more than $1.1 billion in a long-running public fund aimed at small and midsize biotechs. The capital commitment reflects sustained fundraising momentum even as liquidity has been pressured in prior years. The combined moves point to a two-layer investment environment: larger funds expanding their capacity for pipeline and service providers while public vehicles keep underwriting growth-stage execution risk. For biotech builders, such funding availability can translate into more flexible timeline support for clinical de-risking and manufacturing readiness.