Boston – January 7, 2016 – Third Rock Ventures, LLC today announced that Michael W. Bonney is joining the firm as a partner effective today. Most recently, Mr. Bonney served as chief executive officer of Cubist Pharmaceuticals Inc. (a subsidiary of Merck & Co., Inc. as of January 2015) from June 2003 until December 2014. His prior experience includes leadership positions in successful biotechnology and pharmaceutical companies such as Biogen and Zeneca Pharmaceuticals (now AstraZeneca). He also holds several board positions in leading biotechnology companies.
"I am delighted to be joining this exceptional team at Third Rock and look forward to leveraging my years of industry experience as we continue to build companies that can make a meaningful difference in the lives of patients and their families," said Mr. Bonney. "There were many factors supporting my decision to join Third Rock, including the ability to put meaningful capital to work to advance the powerful and unprecedented scientific discoveries emerging from academia and industry today. Also very compelling to me is the opportunity to train and mentor the industry's next generation of leaders. In this regard, Third Rock has proven that – in addition to building great companies, it also builds great leaders. Overall, I have been very impressed with the firm's differentiated and hands-on approach to discovering, launching, and building great companies based on bold ideas that meet at the intersection of science, strategy, business and medicine, and I am eager to contribute to this effort."
"Mike possesses qualities we deem critical for building great companies, such as operational excellence, a collaborative nature, and an entrepreneurial spirit," said Kevin Starr, co-founder and partner at Third Rock Ventures. "Under Mike's leadership, Cubist successfully made the rare transition from startup to true global biotechnology leader, with a strong portfolio of breakthrough marketed products and tremendous growth potential – resulting in its acquisition by Merck. It is clear we share the same values and priorities as evidenced by Mike's ability to deliver impressive results for shareholders and important therapies to patients, while simultaneously creating a dynamic company culture and building a talented, diverse leadership team at Cubist. Mike also shares our vision for the future of value-based medicine and he has demonstrated commitment in this area by helping to impact the pricing and reimbursement landscape of the biopharmaceutical industry – something we also view as critical to building successful, product-focused biotechnology companies. His broad experience across commercial, R&D, and drug discovery will be invaluable to Third Rock and our portfolio companies and we are excited to welcome him to the team."
Mr. Bonney brings to Third Rock extensive operational, commercial, and senior management expertise in the biopharmaceutical industry. Prior to serving as the CEO of Cubist from June 2003 until December 2014, Mike served as president and chief operating officer of the company, joining in 2002. From 1995 to 2001, he held various positions of increasing responsibility at Biogen, including vice president, sales and marketing. Prior to joining Biogen, he held positions in sales, marketing, and strategic planning at Zeneca Pharmaceuticals, concluding his 11-year career there as national business director.
Mike continues to be involved with both corporate and non-profit boards, including Alnylam Pharmaceuticals, Celgene Corporation, and Whitehead Institute for Biomedical Research. In prior years, he was an active and influential member of the Pharmaceutical Research and Manufacturers of America (PhRMA) and the Biotechnology Innovation Organization (BIO), a non-profit biotechnology trade organization. Mike received a B.A. in Economics from Bates College.
About Third Rock Ventures
Third Rock Ventures is the leading healthcare venture firm focused on disruptive areas of science and medicine to discover, launch and build companies that make a dramatic difference in people's lives. By combining our team's scientific vision, strategic leadership, operational expertise and innovative deal-making capabilities, we nurture bold ideas that translate into successful business enterprises. Recognizing that the best way to create value for our investors is to create value for patients, our companies are built on a solid foundation of science, medicine, people and business strategy. For more information, please visit www.thirdrockventures.com.