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'Methodical' Blend Therapeutics shuns large A round, to build drug combinations company

 
• By Nancy Faigen

Raising money for a new drug development company, Blend Therapeutics has deliberately followed a softly, softly approach to funding, according to its stellar scientific founders. The Watertown, Massachusetts-based company backed by the venture capital firms Flagship Ventures, New Enterprise Associates and NanoDimension, gained $2.8 million in a Series A funding round on 10 January 2012. It will work without a CEO until certain technical hurdles have been overcome.

Raising money for a new drug development company, Blend Therapeutics has deliberately followed a softly, softly approach to funding, according to its stellar scientific founders. The Watertown, Massachusetts-based company backed by the venture capital firms Flagship Ventures, New Enterprise Associates and NanoDimension, gained $2.8 million in a Series A funding round on 10 January 2012. It will work without a CEO until certain technical hurdles have been overcome.

Boston-based founders, Drs Robert Langer (from MIT) and Omid Farokhzad (from Harvard Medical School), along with colleague Dr Stephen Lippard of MIT, will combine expertise in nanomedicine and chemistry, coupled...

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