Since joining Polaris Partners in 2002 as a partner and entrepreneur, Alan Crane has served as chairman and CEO for the launch of more than six of the VC’s companies. The firms include Momenta Pharmaceuticals Inc., Cerulean Pharma Inc., Visterra Inc., Navitor Pharmaceuticals Inc., XTuit Pharmaceuticals Inc. and Arsia Therapeutics Inc. He has also sat on the boards of many Polaris portfolio companies, including Sirtris Pharmaceuticals (acquired by GlaxoSmithKline PLC for $720 million in 2008 [See Deal]and Adnexus Therapeutics (acquired by Bristol-Myers Squibb Co. for $505 million in 2007 [See Deal]). Crane is perhaps best known, though, as the CEO of Momenta, which he helped build from a four-person virtual start-up into a public company, raising $275 million while working there from 2002 until 2006. Momenta’s first product achieved over $1 billion during its first year of sales.
Boston, MA-based Polaris Partners invests in a health care and technology portfolio, and is currently on its seventh fund, roughly $450 million, which the firm announced in 2014. Also see...
In this interview, edited for length and clarity, Crane discusses Polaris’ investment philosophy, some of its companies and the current state of venture investing.