Philanthropist sets up new venture fund for CF

Philanthropist John Flatley, whose father made a fortune in the Boston real estate market, has set up a fledgling venture group to make small but strategic investments in start-up biotech companies pursuing new ways to treat cystic fibrosis. Flatley tells Xconomy's Ryan McBride that he plans to inject anywhere from $200,000 to $2 million into upstarts in bad need of early-stage capital. The fund is more interested in spurring new treatments than it is in making money, he adds. Flatley says a close member of his family has the disease. Report