Third Rock Ventures partner Cary Pfeffer is stepping aside as the start-up CEO at Jounce Therapeutics in favor of Merck veteran Richard Murray.
Any industry that's undergoing as much change as biopharma is always looking for leadership. Old marketing practices are being blown apart, R&D is being subjected to emergency surgery, drug...
Third Rock Ventures has cut the ribbon on its latest startup, pledging $45 million to launch Cambridge, MA's Voyager Therapeutics, a gene therapy biotech with a promising platform for central nervous system treatments.
The antibody upstart Igenica has rounded up $14 million in venture cash to move its lead drug into the clinic. The Column Group, 5AM Ventures, OrbiMed and Third Rock Ventures all participated in the round.
A little less than four years after Third Rock and Flagship joined forces and investment cash to back the launch of Eleven Biotherapeutics, the protein engineering company has put together a pitch for a $69 million IPO designed to finance a big shift into late-stage drug development.
Just months after recruiting a crew of experienced professionals to handle Sage Therapeutics, Third Rock Ventures has joined hands with Arch Venture Partners to fund the second leg of their R&D odyssey in CNS diseases with a $20 million B round.
Looking at this year's boom in high-dollar biotech IPOs, you can't miss the fingerprints of Third Rock Ventures, with three of the hottest market debuts coming straight from the fund's portfolio. That success is no coincidence, the group says, and its founders gave Nature an inside look at its painstaking process of choosing which companies to bankroll and which to let slide.
There's been a considerable amount of moaning and groaning in recent years over the clear lack of capital needed to start up a biotech. But Third Rock Ventures has helped banish the blues in certain quarters.
The money is earmarked for discovery work through Phase I. And interim CEO Kevin Starr--a partner at Third Rock who launched the company with a $35 million A round in 2011--hopes that Sage can break new ground in a tough R&D field.
Alcresta has fueled up with venture dollars en route to commercialization of its biotech-inspired nutritional products with a $10 million Series A round from previous backers Bessemer Venture Partners, Frazier Healthcare and Third Rock Ventures.