Cambridge startup lands $25M round for genetic sequencing play

Cambridge, MA-based Foundation Medicine has raised $25 million in a Series A, coming out of stealth mode with bold plans to create clinical lab tests that can use the latest in genetic sequencing technology to identify personalized cancer therapies for patients. As expected, Alexis Borisy, who landed as an entrepreneur-in-residence with Third Rock Ventures after getting bounced from CombinatoRx last year, was named as the new CEO. Third Rock led the round. "Over the past decade, cancer genome...

Third Rock raising $400M venture fund for biotech “game-changers”

Third Rock Ventures, an aggressive investor in biotech startups that promise to develop game-changing technology, is out raising a new $400 million fund. And the news hit on the same day Third Rock announced it is leading a $25 million Series A for Foundation Medicine--a new biotech player led by a well-known figure in the life sciences field. Mass High Tech reports that Cambridge, MA-based Third Rock spelled out its aspirations for the new fund in documents filed with the SEC. The venture...