Venture Capital: BrightEdge, The Venture Arm Of American Cancer Society, Ties Up With VC Third Rock Ventures

https://dailyalts.com/wp-content/uploads/2022/07/corporate-center.jpg

The innovative collaboration will allow BrightEdge investment opportunities in oncology startups.

Leading biotech and healthcare venture firm Third Rock Ventures and BrightEdge LLC, the venture arm of the American Cancer Society (ACS), will collaborate for investing in early-stage startups focused on cancer treatments. BrightEdge will therefore get to participate in the the Series A and follow-on financing rounds of such companies as are backed by Third Rock.

Set up by ACS in 2019, BrightEdge invests in for-profit, early-stage companies developing cancer-focused therapeutics, diagnostics, devices and technologies. It has since made 15 strategic investments two of which have gone public. Typically, the firm invests in Seed and Series A funding rounds, and has assets under management of $77 million, which is on track to reach the $100 million mark by next year.

BrightEdge (along with ACS) will offer the support of its knowledge networks and research communities to such collaborated investments with Third Rock. On a mutually beneficial basis, Third Rock will also offer its technical know-how and resources for the development of entrepreneurs in the ACS ecosystem.

BrightEdge will also benefit from the returns on the investments it makes in Third Rock oncology startups. These income streams will ultimately help fund ACS fot the conduct of cancer research and other services.

The BrightEdge-Third Rock tieup will help to accelerate the pace of reserach and innovation in the field of oncology.

“This partnership touches today’s patients by ensuring ACS can sustain life-saving patient services while paving the way for tomorrow’s innovative solutions,” said Alice Pomponio, BrightEdge’s managing director. “We fully expect to replicate this model with other mission-aligned VC firms to deepen our impact and accelerate our patient-centric mission in reducing cancer mortality, ending pain and suffering, and advancing health equity.”

“This relationship with BrightEdge strengthens our impact across the oncology ecosystem by helping to facilitate ACS programs and initiatives which play critical roles in the patient care continuum,” said Reid Huber, Ph.D., partner at TRV. “As part of BrightEdge’s community of investors, TRV will also gain access to ACS’ programmatic efforts to foster scientific innovation and patient support, further expanding our efforts to push the boundaries of science and technology and connecting us to one of the key patient communities we serve.”

Related Story: Booz Allen Hamilton Floats $100M Venture Capital Fund For Disruptive Technology

Free Industry News

Subscribe to our free newsletter for updates and news about alternatives investments.

  • This field is for validation purposes and should be left unchanged.


Shape

Latest Alternative Investment News

https://dailyalts.com/wp-content/uploads/2022/08/logo-ripple.jpg
Digital Assets: Ripple Labs Eyeing Pieces Of Celsius In Bankruptcy Wreckage
August 10, 2022     Digital Assets, News

Ripple Labs, the blockchain payments company that created the XRP cryptocurrency, is interested in purchasing assets of Celsius Network, the crypto lender that was forced into bankruptcy amidst the meltdown…

https://dailyalts.com/wp-content/uploads/2022/08/Nuri.png
FinTech: German Bank Nuri Files For Insolvency Amidst Macro Environment And Crypto Bear Market
August 10, 2022     Digital Assets, FinTech, News

Nuri, a digital banking platform and app, offered users crypto transactions as well as normal banking activities including a debit card. The firm announced it had filed for insolvency on…

https://dailyalts.com/wp-content/uploads/2022/08/TX-SCARA_Press_1-1-1-1030x644-1.jpg
Artificial Intelligence: AI Robot TX SCARA To Debut In 300 FamilyMart Stores In Japan
August 10, 2022     Artificial Intelligence, Latest News, News

Telexistence Inc., the Japanese robotics company, announced the launch of its TX SCARA restocking robots in 300 FamilyMart convenience stores in Japan later this month as part of its AI-based…

https://dailyalts.com/wp-content/uploads/2022/08/Coinbase-Mobile-–-Splash.png
Alternative Investments/Digital: GraniteShares Launches The First Coinbase Leveraged ETF
August 10, 2022     Alternative Investments, News

US ETF issuer GraniteShares, which first launched leveraged ETFs on single stocks in the UK in 2019, and now offers 106 such products across Europe, has listed a suite of…