BridgeBio Pharma has transferred several preclinical and early clinical-stage drugs to a new company, GondolaBio, thats drawn $300 million in promised investment from a syndicate of blue-chip life sciences investors.Viking Global Investors, Patient Square Capital and Frazier Life Sciences are among the investors backing GondolaBio, according to a Wednesday securities filing from BridgeBio. Also involved is an entity owned by BridgeBio CEO Neil Kumar.The Palo Alto, California biotechnology company will initially hold a 45% stake in GondolaBio, although that will go down as additional capital commitments are funded. The new company will inherit drug programs aimed at the rare diseases erythropoietic protoporphyria, alpha-1 antitrypsin deficiency and tuberous sclerosis complex.BridgeBio has already slimmed its pipeline down once this year, spinning out a slate of experimental cancer drugs into a new company called BridgeBio Oncology Therapeutics. The company has long operated on a hub-and-spoke model, functioning as a parent for biotech subsidiaries. It previously launched QED Therapeutics and Adrenas Therapeutics, and several years ago reacquired another, Eidos Therapeutics, that it formed in 2017.The agreement creating GondolaBio was recommended by a committee of independent and disinterested directors to BridgeBios board, which approved it. The company did not return BioPharma Dives request for further information on GondolaBio beyond the details enclosed in the securities filing.Also committing to invest in GondolaBio are Sequoia Capital, Cormorant Asset Management and Aisling Capital.BridgeBios chief asset is a heart drug called acoramidis, which succeeded in Phase 3 testing last year. An approval application is currently under review in the U.S., with a decision expected by late November. '