Finance Watch: Third Rock Raises $770m To Launch Up To 12 New Companies

The VC firm known for its new company formation efforts will launch 10-12 biopharma, device and diagnostic ventures with its fifth fund. Also, EpimAb raises a $74m series B round, three more drug developers join the IPO queue and Amicus leads recent follow-on offerings.

Finance Watch

Third Rock Ventures LLC launched more than 50 biopharma, device and diagnostic companies with its first four venture capital funds, and with its fifth and largest – the $770m Third Rock Ventures V LP – the VC firm intends to create another 10-12 companies, according to partner and chief operating officer Kevin Gillis.

"Our last fund was launched in October 2016, and if you look historically at our cadence of raising funds, they have been every three years – 2007, 2010, 2013, 2016," Gillis told Scrip. "We began the process of raising Fund V in April and we found the market to be quite receptive

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