Advertisement

Picture EBD Group BIO-Europe Spring 2017 BES Barcelona Spain March 600x60px
Document › Details

Third Rock Ventures, LLC. (10/31/16). "Press Release: Third Rock Ventures Raises $616 Million Fund IV. Announces Strategic Additions to Team". Boston, MA.

Region Region United States (USA)
Organisation Organisation Third Rock Ventures IV, LP (Fund IV)
Products Product Third Rock Venture IV, LP (Fund IV)
  Product 2 BIOTECH
Index term Index term Third Rock Ventures–SEVERAL: investment, 201610 closing $616m of Third Rock Ventures IV LP (Fund IV)
     


Third Rock Ventures, LLC announced today the closing of Third Rock Ventures IV, LP (“Fund IV”), raising $616 million in an oversubscribed fund. With Fund IV, the firm will continue to execute on its strategy of creating innovative healthcare companies to make a meaningful difference in the lives of patients and their families. Since launching in 2007, Third Rock has raised $1.9 billion – including Fund IV – for building transformative companies with a particular emphasis in areas such as oncology, immunology, neurological disorders, cardiovascular disease and rare genetic diseases.

“We appreciate the ongoing support from all the investors participating in Fund IV. Over the ears, we have continued to build a leading investor base that is supportive of our unique model – a hands-on, team-based approach of discovering, launching and building great companies based on bold ideas that meet at the intersection of science, strategy, business and medicine,” said Robert Tepper, M.D., partner at Third Rock. “Our investment philosophy has always been shaped by the ongoing tremendous innovation in science and medicine. We aim to be both the preferred partner to scientific innovators from academia, and the preferred provider of innovative programs in important disease areas to address the bio-pharma industry’s pipeline needs.”

To date, Third Rock has launched more than 40 companies, all sharing a common goal of addressing significant medical needs through bold ideas and transformative science. The firm focuses on building product engine companies, which offer unique opportunities for growth and value in that they are built on technologies with the potential to generate multiple therapeutics. In less than 10 years, Third Rock portfolio companies have delivered four products and one device to the market and advanced more than 40 programs in clinical development. Compelling clinical data from many of these programs point to the potential to make an impact in disease areas in need of new and better treatment options.

Third Rock also announced today that industry veteran Abbie Celniker, Ph.D., is joining the firm as a partner. Charles Homcy, M.D., previously a venture partner, is becoming a partner. Frank Gentile, Ph.D., Stephen Sherwin, M.D., and Barbara Weber, M.D., who have served as entrepreneurs-in-residence for the firm, are becoming venture partners.

“Without a doubt, people are the most important asset in our efforts, and I am incredibly proud of all that our team has accomplished to date,” said Alexis Borisy, partner at Third Rock. “We are thrilled today to welcome Abbie and Charles as partners. Many of us have had the pleasure of working with them previously and know their insight and expertise will be invaluable as we continue to work collectively to translate the unprecedented level of innovation emerging from academia and industry to our company creation efforts.”

“I am delighted to be joining Third Rock. Having worked with many members of the team previously I have tremendous respect for their high-engagement, team-oriented and valuecreation driven approach,” said Dr. Celniker. “I am looking forward to contributing to ongoing efforts and long-term success as we continue to advance important science to build great companies to make a difference in the lives of patients and their families.”

Dr. Celniker brings over 30 years of experience in R&D and senior leadership roles. Prior to joining the firm, she served as president and CEO of Eleven Biotherapeutics, a Third Rock portfolio company. Before that, Dr. Celniker was the president and CEO of Taligen Therapeutics until its acquisition by Alexion. Previously, she had R&D leadership roles at Novartis, Millennium Pharmaceuticals and Wyeth Research. She received her Ph.D. from the University of Arizona.

Dr. Homcy joined Third Rock as a venture partner in 2010, bringing over 30 years of experience as a preeminent physician scientist discovering and developing drugs in a number of disease areas, with particular expertise in cardiovascular disease. He has played an integral role in the launching and building of several of the firm’s west-coast based portfolio companies. Prior to Third Rock, Dr. Homcy co-founded Portola Pharmaceuticals and served as president and CEO. Previously, he was at Millennium Pharmaceuticals and COR Therapeutics. He received his M.D. from Johns Hopkins University.


About Third Rock Ventures

Third Rock Ventures is a 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.

###


Contact

Cynthia Clayton
Third Rock Ventures
617-585-2010
cclayton@thirdrockventures.com

   
Record changed: 2016-11-04

Advertisement

Picture EBD Group BIO-Europe Spring 2017 BES Barcelona Spain March 600x60px

To subscribe to our free, monthly mass spectrometry newsletter, please send an e-mail to info@iito.de and simply fill the subject line with the word »MSC newsletter«

To get even more information, please take a look at our [gs] professional services offering and read the gene-sensor Product Flyer [PDF file]

Please visit also our web portals for the Eurpean life sciences and the life sciences in German-speaking Europe (DE, AT & CH) at Life-Sciences-Germany.com and Life-Sciences-Europe.com

Advertisement

Picture EBD Group BIO-Europe Spring 2017 BES Barcelona Spain March 600x60px




» top

Advertisements

Picture [iito] Twitter iitoLifeScience Life Sciences Mass Spec 120x120px BCNP Consultants European Chemistry Partnering 2017 Ffm Germany 120x180px Picture EBD Group BIO-Europe Spring 2017 BES Barcelona Spain March 120x180px Picture AB Sciex Berliner LCMSMS Symposium 2017 Right 120x80px Picture [LSE] Life-Sciences-Europe.com – The Business Web Portal 120x600px Banner Fairtec GmbH Solutions for Smarter Business Events Exhibitions 120x120px Picture [iito] Twitter iitoLifeScience Life Sciences Mass Spec 120x120px