Big pharma backing bodes well for new early-stage biotech
The strategic venture capital unit of US healthcare giant Johnson & Johnson (NYSE: JNJ) has put its weight behind a $100 million boost for a new precision medicine company.
Third Rock Ventures led the series A with participation from ARCH Venture Partners and Johnson & Johnson Innovation (JJDC).
As the name suggests, Rapport Therapeutics will focus on receptor-associated proteins (RAP), localized proteins with a diverse range of functions in the body.
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