Accelerator incubator raises $23M for new biotech investments

Accelerator, a Seattle biotech incubator linked to the Institute for Systems Biology, raised $22.5 million in a third funding round. The round was led by Amgen Ventures, Arch Venture Partners and OVP Venture Partners, joined by Alexandria Real Estate Equities and WRF Capital.

Accelerator has so far arranged funding for and managed six biotech startups, of which two — VLST and Spaltudaq — have moved on from the incubator, between them raising another $84 million in follow-on financing.