VC firm looks to early-stage research projects

Third Rock Ventures recently unveiled a $378 million life sciences fund which it says will concentrate on early-stage drug discovery--linking academic research to biotech companies. In an interview with Investor's Business Daily, Third Rock's Kevin Starr explained that a "giant void" has developed in biotechnology, with Big Pharma and VC firms looking to invest in late-stage products. Says Starr: "Amazing innovation is happening in academia and medical centers, and no one is building that bridge to translate that into important companies. We're jumping in to bridge that void." The bulk of their time is spent talking to innovators, he says, who have yet to gain commercial traction.

- see Third Rock's release on the fund
- here's the report from CNN

Related Articles:
VC launches $378M fund. Report
The Top 5 VC deals of the first half of 2007. Special report
Biotech sees big money from corporate players. Report
Universities, public institutes lead biotech revolution. Report

Suggested Articles

Removing the IRE1-alpha gene from beta cells in mouse models of Type 1 diabetes restored normal insulin production, scientists found.

Selectively targeting TGF-beta1 with Scholar Rock's SRK-181 overcame primary resistance to checkpoint inhibitor therapy in mice.

Enhertu produced a 55.6% objective response rate in HER2-positive non-small cell lung cancer patients in a phase 1 trial.