Three of the industry's leading discovery-stage venture groups have come up with a $43 million commitment to back a crew of marquee thinkers in the genomics field to launch Editas Medicine, a biotech exploratory vehicle that will set out to pioneer a new field of drug development.
The Bill & Melinda Gates Foundation has stepped up with another equity investment in a biotech company, this time making a major contribution to a $13 million Series A add for a startup aiming at a universal preventive as well as therapeutic approach to influenza. Omega Funds also joined the venture top-up, bringing the first venture round for Cambridge, MA-based Visterra to $26 million.
Biotech has gone Hollywood at Living Proof. Jennifer Aniston has signed on as co-owner and the celebrity face of the company, which has previously rallied such biotech aficionados as MIT's Bob Langer and Harvard's Rox Anderson in an effort to make hair products with scientific inventions.
Robert Connelly has stepped aside from his job at the helm of Lexington, MA-based Pulmatrix, trading in his role leading the development of new respiratory drugs in favor of a new trans-Atlantic upstart which plans to create a wide range of "delicious" packages for food designed to replace today's trash with a tasty snack.
Polaris Venture Partners and the National Venture Capital Association hosted a panel discussion in Boston Monday night on how to address a chilly biotechnology investment environment, as part of the 2012 BIO International Convention in Boston. But what I also wanted to hear was if VC investment for medical device and diagnostics companies had begun to thaw.
Drug giant Johnson & Johnson and the Boston area's Polaris Venture Partners have been working together for months in search of early-stage biotech deals. The collaboration was announced in January, and it could be just a matter of time before the partners team up on an exciting deal.
Seventh Sense Biosystems scored a $10 million round of Series A financing designed to help launch a pivotal clinical trial for its point of care blood collection device.
Fast-growing Adimab has added close to $14 million in venture cash to the bank as it hires on new staffers and preps for a move into a 21,500-square-foot lab in Lebanon, NH.
Nanotech-enabled medicines are coming of age. That's the big message I came away with after a recent telephone chat with Kevin Bitterman, a life sciences investor with Polaris Venture Partners in
It's not been an easy time for venture groups trying to make money in the biotech arena, says Terry McGuire, the co-founder of Polaris Venture Partners. The bleak prospects for IPOs have cast a pall