Blueprint Medicines Welcomes Fidelity Biosciences to Investor Syndicate
CAMBRIDGE, Mass., May 24, 2012 (BUSINESS WIRE) -- Blueprint Medicines today announced that new investor Fidelity Biosciences joined existing founding investor Third Rock Ventures in its previously announced $40 million Series A financing.
"Blueprint has recruited exceptional talent and created an organization with a real opportunity to transform cancer drug development and create significant value for patients," said Stephen C. Knight, M.D., president and managing partner of Fidelity Biosciences. "We have been very impressed with the strategy and the science, and we are excited to be a part of the continued evolution of Blueprint Medicines. We look forward to working with the leadership team to harness the potential of the cancer genomics revolution and rapidly translating emerging insights into impactful drug programs."
"Since we launched Blueprint Medicines last year, we have been considering bringing on additional top investors over time who can bring strategic value to the company, and we are very pleased to welcome Fidelity Biosciences to the team," said Chris Varma, Ph.D., president and CEO of Blueprint Medicines. "Fidelity Biosciences is a partner of choice for helping to build great companies, and Steve, with his deep experience in medicine and biotech, is an excellent addition to the board as we continue to advance our product engine and pre-clinical programs. Fidelity Biosciences shares our vision for the groundbreaking science and opportunity ahead for Blueprint Medicines."
In conjunction with Fidelity Biosciences joining the syndicate, Dr. Knight will join the board of directors of Blueprint Medicines, which includes existing members Mark Levin and Alexis Borisy of Third Rock Ventures, Chris Varma, and independent director Nick Lydon, Ph.D.
About Fidelity Biosciences
Fidelity Biosciences is a subsidiary of FMR LLC, the parent company of Fidelity Investments, one of the world's leading providers of financial services. For more than 40 years, Fidelity has been a significant presence in the venture capital and private equity industry, investing the firm's own capital since 1969. Learn more at www.fidelitybiosciences.com .
About Third Rock Ventures
Third Rock Ventures is a venture capital firm founded in 2007 with the mission to launch transformative life sciences companies. With more than $800 million and two funds under management, the firm is focused on working with passionate entrepreneurs to build exceptional companies working in areas of disruptive science that will make a difference in the lives of patients. The firm has assembled a team with deep expertise and a proven track record of building respected and successful life sciences companies. With decades of complementary, cross-functional operational and leadership experience, the Third Rock team actively engages with its portfolio companies to provide hands-on strategy and experience to successfully launch companies with the best vision, science, operations, people and culture. With offices in Boston, MA and San Francisco, CA, Third Rock is well positioned geographically to closely collaborate with its portfolio companies to achieve their goals. To learn more about Third Rock and its portfolio companies, please visit www.thirdrockventures.com .
About Blueprint Medicines
Blueprint Medicines is driving the development of personalized, highly selective cancer therapies that harness the growing understanding of the molecular blueprint of cancer. Using its powerful Insights-to-Validation(TM) Platform and proprietary chemical library, Blueprint Medicines is working to develop new therapeutic compounds and combination therapies that target the molecular aberrations that cause cancer and the emerging resistance mechanisms that make it increasingly difficult to treat. Blueprint Medicines was founded in 2011 by a proven team of scientists, including Nicholas Lydon, Ph.D., and Brian Druker, M.D., entrepreneurs with world-renowned expertise in the development of targeted cancer therapies, cancer genomics, and rational drug development, and Third Rock Ventures. Blueprint Medicines is poised to realize the promise of the cancer data "revolution": truly personalized therapies that improve outcomes and shift cancer to a manageable condition. For more information on Blueprint Medicines, please visit the company's website at www.blueprintmedicines.com .
SOURCE: Blueprint Medicines
Dan Budwick, 973-271-6085