Third Rock Ventures

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Third Rock Ventures is a venture capital firm based in Boston, founded in 2007[1][nt 1] which invests in biotechnology startups.[2][3][4][5][6]

Business model

Rather than passively waiting for investment opportunities, Third Rock claims to take a more active role in creating companies by bringing together experts in a field.[7] The firm has a cadre of in-house experienced scientists who effectively build companies from the ground up.[8] With respect to assets, namely drug candidates, investigated by these incubated companies, the firm employs a criteria set including the availability of replicable preclinical data, maturity of the asset which places it within three years of a first-time-in-man clinical trial, and disinterest among Big Pharma.[8]

History

Third Rock, along with pharmaceutical giant Sanofi, provided venture capital to MyoKardia, a company which focuses on genetic heart diseases that went public in 2015.[9] In 2013, Editas Medicine, which develops gene-editing therapies for cancer, was founded with funding from Third Rock and others.[10][11] In 2018, Third Rock Ventures founded Rheos Medicines, a company focusing on autoimmune and inflammatory diseases.[12]

References

  1. ^ Third Rock Ventures Company Brochure
  2. ^ Alsever, Jennifer (19 February 2015). "Third Rock Ventures: Giving birth to a new generation of biotechs". Fortune. Retrieved 22 August 2018.
  3. ^ Weisman, Robert (31 October 2016). "Third Rock raises $616m for fourth biotech venture fund". Boston Globe. Retrieved 22 August 2018.
  4. ^ Weintraub, Karen (5 June 2018). "Biotech Startups: Dreams, Risk, Failure And - Sometimes - Success". WBUR-FM. Retrieved 22 August 2018.
  5. ^ Timmeran, Luke (31 October 2016). "Third Rock Ventures, One of Biotech's Daring Investors, Raises $616M For More Startups". Forbes. Retrieved 22 August 2018.
  6. ^ Heidi Ledford (25 September 2013). "Biotechnology: The start-up engine". Nature. Retrieved 26 September 2013.
  7. ^ Regalado, Antonio (18 February 2014). "50 Smartest Companies: Third Rock Ventures". MIT Technology Review. Massachusetts Institute of Technology. Retrieved 25 August 2014.
  8. ^ a b Patterson, Cam; Kant, Andrew (2015). "6. Healthcare entrepreneurship: the changing landscape". In Nambisan, Satish (ed.). Embracing Entrepreneurship Across Disciplines: Ideas and Insights from Engineering, Science, Medicine and Arts. Edward Elgar Publishing. p. 100. ISBN 978 1 78254 995 6. OCLC 930538876 – via Google Books.
  9. ^ Loannou, Jennifer (28 March 2018). "Big Pharma's billion-dollar scramble to invest in start-ups to fuel innovation". CNBC. Retrieved 22 August 2018.
  10. ^ Razumovskaya, Olga (30 August 2017). "Third Rock Ventures Launches Cancer Biotech Startup". Wall Street Journal. Retrieved 5 September 2018.
  11. ^ Herper, Mathew (10 August 2015). "Bill Gates And 13 Other Investors Pour $120 Million Into Revolutionary Gene-Editing Startup". Forbes.
  12. ^ Gormley, Brain (22 March 2018). "Third Rock Ventures Launches Rheos Medicines With $60 Million". Wall Street Journal. Retrieved 5 September 2018.

Notes

  1. ^ According to the December 2010 edition of BoogarLists' "Venture Capital + Private Equity Directory", the inception year for the company was 2007, not 2006. — Venture Captal + Private Equity. BoogerLists. December 30, 2010. p. 318 – via Google Books.

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