US-based venture capital firm Third Rock has launched SAGE Therapeutics with a $35m Series A capital injection, which will enable the newly established company to develop treatments for central nervous system (CNS) disorders.
Established this year by an R&D team, CNS experts and Third Rock Ventures, SAGE Therapeutics is a CNS product-focused company building a portfolio of new therapies to meet the growing unmet need in a range of CNS disorders, including schizophrenia, depression, pain and brain injury.
SAGE Therapeutics is a private company launched in 2011 by a proven team of R&D leaders, renowned CNS experts and Third Rock Ventures.
Kevin Starr, a partner at Third Rock Ventures and interim CEO of SAGE Therapeutics, said, “Our team has consolidated and evaluated some of the most important work from the last decade of discoveries in allosteric modulation of the important CNS pathways and is now positioned to build on a broad pipeline of novel CNS programs.
“With this solid foundation in place, we are poised to enter the clinic in the next two years. One of the key ingredients to building successful biotech companies is to work with great people and assemble the leading thinkers in the field. We are delighted to be collaborating with Steve, Doug and our full team of advisors to achieve our ultimate goal in delivering important medicines to patients,” he added.
Third Rock also announced this week that it has led a team of new investors including Kleiner Perkins Caufield & Byers and Google Ventures in a $33.5m Series A financing round for Foundation Medicine, a cancer diagnostics company that aims to bring comprehensive cancer genome analysis to routine care.
Copyright © 2011 AltAssets