Atlas Venture Leans on Amgen, Novartis AG to Build New Startups

Published: May 16, 2013

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Fresh off raising $265 million to bankroll its ninth fund, Atlas Venture has forged strategic partnerships with Amgen and Novartis to help supply the bigger companies with innovative new drug candidates. The deals represent the latest in a string of alliances that is bringing venture firms and Big Pharma closer together than ever before. Cambridge, MA-based Atlas announced today that it has struck what it calls “corporate strategic partnership” agreements with Amgen (NASDAQ: AMGN) (through its VC fund, Amgen Ventures), and Novartis (NYSE: NVS). According to Atlas partner Bruce Booth, both pharma giants are “significant” limited partners in Atlas’s latest fund, Atlas IX, which is expected to create at least 15 biotech companies.

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