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VC Roundup: Magenta Raises $48.5m To Improve Stem Cell Transplants

 
• By Mandy Jackson

The Atlas and Third Rock-backed startup Magenta raised a $48.5m Series A round to develop drugs that improve three key steps in the stem cell transplant process. Turnstone, Glycomine and Syntimmune also brought in a combined $61.4m new funding during the first half of November.

Magenta Therapeutics raised $48.5m in Series A venture capital to develop therapeutics that may improve hematopoietic stem cell transplants, increase curative outcomes and induce remission for patients with hematological malignancies, genetic bloods disorders and autoimmune diseases.

A group of VC investors led by Atlas Venture and Third Rock Ventures LLC put their money behind an ambitious startup helmed by Magenta President, CEO and Co-Founder Jason Gardner, who previously was the vice president heading up GlaxoSmithKline PLC’s R&D site in Boston

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