Third Rock launches Goldfinch Bio, with $55M for kidney disease work

Perennial early-stage biotech investor Third Rock Ventures has launched Goldfinch Bio with a $55 million Series A pot.

The upstart will work on discovering and developing precision therapies for patients with kidney disease.

Peter Mundel, formerly on the faculty at Harvard Medical School, joins Goldfinch as the SVP of biology, while clinical geneticist and Third Rock venture partner Phil Reilly will serve as the company’s interim CMO.

Dr. Abbie Celniker, a partner at Third Rock Ventures and 30-year industry veteran, becomes temporary CEO until a full-time head is found.

“Current treatment options for patients with progressive kidney disease are often off-label, non-specific, and carry significant toxicities,” Dr. Celniker said.

“By building on recent breakthroughs from our founders to better understand the molecular processes of kidney disease, we see a unique opportunity to spur a renaissance in the discovery and development of new therapies to treat the underlying causes of disease. To accomplish this, Goldfinch has brought together the leading scientists, clinicians, and drug hunters behind a common goal to create the first precision therapies for patients with kidney disease.”

Goldfinch will use an inclusive patient registry designed to collect and mix in genomic as well as phenotypic data, all of which is designed to help with the discovery of molecular drivers of kidney disease.

“Using state of the art biological tools, Goldfinch will focus on actionable targets for intervention, and develop precision therapies for genetically stratified patient groups,” the company said.

Goldfinch will start off working on areas where there is a known genetic component, including focal segmental glomerulosclerosis (FSGS) and polycystic kidney disease (PKD).