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Blueprint Medicines secures $40 Million in Series A for cancer treatment

Monday, April 11, 2011 01:16 PM

Blueprint Medicines, a company focused on the molecular blueprint of cancer to develop cancer therapies, will close a $40 million Series A financing led by Third Rock Ventures. Proceeds from the financing will be used to develop new cancer therapies--using the company's proprietary compound library and Insights-to-Validation Platform that target the driver molecular aberrations of cancer and emerging resistance mechanisms to certain cancer patients.

"Over the past decade, targeted kinase inhibitors have been successfully designed, advanced into clinical trials and delivered to patients, forever changing the way cancer is treated," said Dr. Nicholas Lydon, a co-founder of Blueprint. "We are now at a crossroads where innovative drug discovery and development could again enable a transformative shift in cancer treatment. By leveraging the growing body of molecular and cancer genome data and focusing on patients with clearly defined molecular aberrations, Blueprint Medicines is positioned to develop the selective cancer treatments that will make this transformation possible."

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