Boston and Geneva-based biotech investor Omega Funds secured $647 million for its eighth venture capital fund, matching the size of its 2021 raise. The fund targets innovative life sciences companies addressing severe unmet medical needs in the U.S. and Europe. Omega’s portfolio boasts multiple successful exits including Scorpion Therapeutics and EyeBio. Despite a downturn in biotech venture fundraising, Omega’s continued capital raising signals confidence in the sector’s innovation potential and supports early to late-stage company financing.