Fidelity joins $40m Series A round for cancer drug developer Blueprint


Fidelity Biosciences has joined a $40m financing round for cancer therapy developer Blueprint Medicines.

The company was launched last year through the existing Series A investment from Third Rock Ventures.

Fidelity president and managing partner Stephen Knight said, “Blueprint has recruited exceptional talent and created an organization with a real opportunity to transform cancer drug development and create significant value for patients.

“We have been very impressed with the strategy and the science, and we are excited to be a part of the continued evolution of Blueprint Medicines.

“We look forward to working with the leadership team to harness the potential of the cancer genomics revolution and rapidly translating emerging insights into impactful drug programs.”

The deal will see Knight will join the Blueprint board of directors, which includes Mark Levin and Alexis Borsy of Third Rock, Chris Varma and independent director Nick Lydon.

Fidelity has been investing in promising startups since 1969, while life sciences-focused Third Rock has amassed $800m of capital across two funds since it was founded in 2007.

Last month Fidelity and Bessemer Venture Partners led an $18.2m financing round for Liazon, which operates the Bright Choices private health benefits exchange.

The round, which also received follow-on funding from existing investors Bain Capital Ventures and Rand Capital, SBIC, will enable the company to expand nationwide and develop new products, it said.

Copyright © 2012 AltAssets