Third Rock Wise To The Opportunity In CNS; Stakes SAGE Therapeutics With $35 Million
This article was originally published in The Pink Sheet Daily
The new company, co-founded by ex-Lilly executive Steven Paul, plans to move aggressively with its allosteric modulators, launching the first of several clinical programs within six months to a year.
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The Russian sovereign fund is a major investor in several U.S. life sciences start-ups. Plus news on recent financings by SAGE Therapeutics, Macrogenics, G1 Therapeutics and TD1 Innovations.
ARCH Venture Partners joined original investor Third Rock Ventures in backing the Cambridge, Mass., start-up with $20 million in Series B money. SAGE is concentrating its efforts on several compounds, including one to treat a type of epileptic seizure, which could represent the beginning of a larger epilepsy franchise.
The upbeat ex-Shire exec has moved on from his tumultuous break-up with the specialty pharma and is on day three in his new role as CEO of CNS start-up SAGE Therapeutics. He will focus on bringing CNS products forward for orphan indications.