Ascent Therapeutics: There's Still Money in Discovery Platforms

It’s a common perception that venture investors have turned their backs—or at least hidden their pocketbooks—from big think platform-based biotechs in search of early stage funding. But a quick look at the large A rounds raised in recent years suggests that sentiment isn’t exactly true. Even as the pool of available capital shrinks and despite the gloomy exit environment, start-ups with promising technologies capable of generating multiple products across a wide swath of therapeutic areas are still gaining funding.

One company that recently emerged from stealth mode: Anchor Therapeutics Inc., which aims to develop drug candidates that interfere...