Boston-based Third Rock Ventures has launched a fund with $378 million of committed capital that will be used to invest in life sciences companies at the early stages of formation. Third Rock said it will be looking to invest in companies with "product engines," or technologies that are capable of creating products in multiple diseases. "The members of the Third Rock team have a strong track record for integrating scientific ideas with business strategy, and we are excited to apply this know-how to help entrepreneurs launch innovative companies, create exceptional value, and develop products that create medical breakthroughs for patients," said Kevin Starr, partner of Third Rock Ventures. The company's partners include several Millennium Pharmaceuticals alumni.
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