Lotus Tissue Repair Pioneers New Treatment for Rare and Disfiguring Disorder, Raises $26 Million From Third Rock
6/30/2011 8:02:10 AM
Lotus Tissue Repair Inc. has launched as a spinout from Third Rock Ventures, which led the Cambridge biotech’s $26 million Series A funding round. The funds will be used to develop the technology it licensed from the University of Southern California into a collagen-based therapy for a rare skin disorder. Philip Reilly, a partner at Third Rock, is one of the co-founders of the company and is serving as interim chief medical officer, according to the Lotus Tissue website. CEO Mark de Souza, formerly a vice president of business development with Dyax Corp., and CFO James Fordyce, managing partner of private advisory firm MEDNA Partners LLC, are the other co-founders of Lotus Tissue Repair.