Third Rock Raises $1.1 Billion for Investment in Biotech
- Posted by ISPE Boston
- On July 14, 2022
Boston-based, biotech-focused venture capital firm Third Rock Ventures has raised $1.1 billion for its new Fund VI. Third Rock employs a hands-on approach to partnering with founders to build companies and provides early and rigorous integration of science, medicine, business and strategy to build successful companies.
To date, Third Rock has raised $3.8 billion and its funds have invested in 60 companies. Importantly, companies across the portfolio have brought 18 products to market across multiple therapeutic modalities and a broad range of disease indications including cancer, cardiovascular disease, depression, sickle cell disease, and rare genetic diseases among others. Fund VI is able to provide both initial Series A as well as follow-on capital to support companies throughout their lifecycle. Furthermore, Third Rock intends to allocate capital from Fund VI to invest in groundbreaking new companies from in the broader biotech ecosystem that are strongly aligned with Third Rock’s mission and strategy.
“Our discovery pipeline is as robust as it has ever been, and with our established and proven model for integrating deep scientific and medical expertise with operational and business acumen, we are uniquely positioned to advance these innovations to patients,” said Third Rock partner Reid Huber. (Source: Third Rock Ventures Website, 15 June, 2022)