Third Rock Ventures Rolls Its Own
This article was originally published in Start Up
Third Rock Ventures has raised $1.3 billion by going all-in on early-stage biotech with a homegrown company strategy that requires that its own people run many of its portfolio companies after launch. It’s hard to say definitively that the strategy is working, but then again, its investors just re-upped for a new half-billion-dollar fund.
You may also be interested in...
Third Rock Partner Mark Levin is excited about emerging science, but somewhat pessimistic about the environment for companies pursuing it.
Bruce Spiegelman, co-founder of the start-up Ember Therapeutics and winner of ADA’s prestigious Banting Award, described how his lab at Harvard discovered the hormone irisin, which appears to be a key regulator of fat metabolism and may be responsible for beneficial functions of “brown” fat.
For $95 million guaranteed, Genentech gains rights to broad research in the emerging field over a three-year period, as well as an option to acquire the start-up outright.