Third Rock Ventures Pumps $38 Million Into New Firm Focused On Genetic Heart Disease
This article was originally published in The Pink Sheet Daily
Third Rock is the sole Series A investor in MyoKardia, which plans to use personalized medicine to treat hypertrophic and dilated cardiomyopathies.
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In the third quarter of 2012, start-up companies raised a total of $682 million across all industries, roughly 19% more than in the previous quarter. Of that money, 65% went to biopharmas. Several large molecule-focused companies inked deals during Q3. Four start-ups were acquired – three biopharmas and one medical device company.
Q3 2012 biopharma financing, at just over $3 billion, showed a 13% increase over Q2. Follow-on public offerings again were the most prevalent financing type, accounting for a third of these dollars. M&A volume was down to just over $7 billion, compared with Q2’s $35.9 billion and only two Q3 transactions topped the billion-dollar mark. Antibody alliances made up just over a quarter of the total $2.2 billion in deal volume, with 19 deals signed in the area.
Plus news on recent financings by MyoKardia, Biogen Idec, Annovation and Wellington Partners.