Blueprint Medicines recently announced a $50 million Series C round, meant to advance its two lead candidates through clinical trials in 2015 and fund the company’s proprietary kinase discovery platform and pipeline.
The round was led by Partner Fund Management; the company, launched by Third Rock Ventures, to this point has raised an impressive $115 million in venture. It’s chasing indications like mastocytosis and stomach tumors, as well as hepatocellular carcinoma.
Damian Garde over at Fierce wrote:
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As with nearly all Third Rock-founded startups, Blueprint touts itself less as a biotech working on discrete therapeutics and more as a product engine, honing a system that can generate numerous potential therapies for years to come. That promise, coupled with the immediate potential of BLU-285 and BLU-554, is what drew Partner Fund to the table, the firm’s Alex Virgilio said.
“The team has achieved impressive results to date by rapidly discovering and advancing two first-in-class product candidates toward clinical development,” Virgilio said in a statement. “We believe the team can sustainably replicate this success based on the strength of the platform in producing exquisitely selective inhibitors to novel genomically defined kinase targets.”
