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.
Back in January of 2012, Third Rock's upstart epigenetics play Constellation Pharmaceuticals landed a three-year deal with a marquee development partner. Genentech agreed to step in, provided a cash commitment of $95 million to cover part of the Cambridge, MA-based biotech's R&D overhead, and added an option to buy the company. Now the collaboration part of the deal is complete, and on Friday the biotech quietly laid off 23 staffers as it sketched out a path that would allow it to go it alone--if Genentech doesn't acquire the company by its deadline later this year.
The Third Rock-launched Global Blood Therapeutics has rounded up $48 million to push into the clinic with an experimental therapy for sickle cell disease and set the stage for an IPO later this year--once they have proof-of-concept data for their drug in hand.
Third Rock Ventures startup Blueprint Medicines has hauled in a $50 million C round, cash that'll see its way through clinical trials and keep its promising platform generating new candidates.
Sage Therapeutics has successfully resolved a rare seizure disorder among the majority of patients in its small but closely watched Phase I/II study, adding more promising outcomes to the early evidence that helped inspire one of this year's most successful biotech IPOs. In the data update out Monday morning investigators say the 73% overall response rate in their study is also being mirrored among a small group of patients who are receiving the drug on an emergency-use basis.
Sanofi has stepped up with a $45 million down payment on a potential $200 million early-stage deal to develop new drugs for heart muscle disease. The pharma giant inked one if its rare small-biotech collaboration pacts with MyoKardia, a South San Francisco-based biotech that was funded by Third Rock a couple of years ago.
Third Rock Ventures' Voyager Therapeutics has named Steven Paul as its full-time CEO, tasking the longtime Eli Lilly R&D exec with shepherding its gene therapy candidates into clinical trials.