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Flagship Pioneering Inc.

CIK:0001400240
Venture Capital
$3B AUM
4 holdings
Cambridge, MA, United States
Founded:1999
400 employees
Latest filing:Jun 30, 2025

Flagship Pioneering is a leading American life sciences venture capital company headquartered in Cambridge, Massachusetts. Founded in 1999 (originally as NewcoGen), the firm invents, incubates, and funds biotechnology and health-focused companies, having founded and built over 100 bioplatform companies such as Moderna and Editas Medicine. It employs a large team of scientist-entrepreneurs, business operators, and professionals, serving early-stage startups and portfolio companies in the life sciences and sustainability sectors.

Investment Strategy

Flagship Pioneering's investment strategy centers on creating and incubating breakthrough companies by generating bold "what-if" scientific questions and building novel bioplatforms in-house. The firm focuses on high-impact opportunities in biotechnology, health, and sustainability, often developing first-in-category business models to address significant global challenges. Their approach combines rigorous science with an entrepreneurial process, prioritizing the development of transformative technologies and enduring value through their unique, hands-on innovation model.

Latest 13F Filing Activity

Flagship Pioneering Inc. filed their most recent 13F report on Jun 30, 2025 disclosing 4 equity positions with a total 13F market value of $268M. The fund increased holdings in Sana Biotechnology Inc., Foghorn Therapeutics Inc., Seres Therapeutics Inc. among other positions. Flagship Pioneering Inc. reduced exposure to Seres Therapeutics Inc., Moderna Inc., Seres Therapeutics Inc. among others.

Top Buys
S
SANASana Biotechnology Inc
+$26.3M
F
FHTXFoghorn Therapeutics Inc
+$13.3M
M
MCRBSeres Therapeutics Inc
+$12.8M
M
MRNAModerna Inc
-$3.5M
Top Sells
S
SANASana Biotechnology Inc
+$26.3M
M
MCRBSeres Therapeutics Inc
-$16.2M
F
FHTXFoghorn Therapeutics Inc
+$13.3M
M
MCRBSeres Therapeutics Inc
+$12.8M
M
MRNAModerna Inc
-$3.5M

Top Holdings

M
MRNAModerna Inc
+47.6%$127.8M
S
SANASana Biotechnology Inc
+25.4%$68.3M
F
FHTXFoghorn Therapeutics Inc
+22.2%$59.6M
M
MCRBSeres Therapeutics Inc
+4.8%$12.8M

Equity Positions (4)

TickerSecurityWeightMarket ValueSharesAvg CostPriceChange (QoQ)
Moderna Inc47.60%$127.8M4,632,149$15.27$27.59-$3.5M
Sana Biotechnology Inc25.42%$68.3M25,001,856$33.47$2.73+$26.3M
Foghorn Therapeutics Inc22.19%$59.6M12,674,120$20.27$4.70+$13.3M
Seres Therapeutics Inc4.78%$12.8M1,155,850$11.11$11.11+$12.8M

Industry Allocation

BIOLOGICAL PRODUCTS, (NO DIAGNOSTIC SUBSTANCES)
+71.2%
PHARMACEUTICAL PREPARATIONS
+28.8%