Third Rock startup MyoKardia staggered onto Nasdaq on Wednesday, pricing its IPO at $10 a share--a deep, bargain basement discount from the hefty range it set for itself.
Over the years the partners at Third Rock have whipped up a wave of biotech startups focused on new cancer drugs, gene therapies, heart disease, gene editing and much, much more. Now they're tackling new therapeutics for hearing loss, convinced that this is a prime time to create a new company from the ground up in a field that's been long neglected by drug developers.
Third Rock entrepreneurs Cary Pfeffer and Robert Tepper are taking top interim posts at the newly unveiled Neon Therapeutics, spearheading an immuno-oncology R&D effort after snagging an early-stage therapy fostered at the prestigious Broad Institute and Dana-Farber. And they have a $55 million bankroll from Third Rock, Clal Biotechnology Industries and Access Industries to set up the company.
Global Blood Therapeutics, a graduate of Third Rock Ventures' startup academy, set terms for an IPO worth as much as $124 million, looking to raise money for its oral sickle cell disease program.
San Francisco's Global Blood Therapeutics, founded by Third Rock Ventures, is angling for a $115 million IPO to bankroll its work on an oral treatment for sickle cell disease.
Back in February, Afferent Pharmaceuticals pronounced itself satisfied with the outcome for a mid-stage study of its lead drug, AF-219, being developed for a range of conditions including pain, persistent coughing and urinary urgency. And today the venture backers behind the San Mateo-based biotech have come up with $55 million in a crossover round to fuel new work on the pipeline.
As growing demand for lab space in Cambridge, MA, threatens to price out startups, biotech foundry Third Rock Ventures is looking to make a splash in the neighborhood to give its seedlings access to one of the industry's most vibrant innovation hubs, Beta Boston reports.
Ember Therapeutics, a Third Rock Ventures-founded biotech startup that closed its doors late last year, is getting a second chance thanks to a small New York drug developer.
NinePoint Medical has raised $15 million in debt to support the marketing of its endoscopic volumetric imaging system of the esophagus. The financing comes almost two years after the company launched its NvisionVLE Imaging System in the U.S.
Revolution Medicines is developing technology it believes can do evolution one better, improving on naturally occurring compounds to transform promising but raw molecules into discrete drug candidates. And, with the help of $45 million from Third Rock Ventures, the biotech is first setting its sites on a pedigreed antifungal therapy.