Third Rock Ventures announces formation of Global Blood Therapeutics

Third Rock Ventures, LLCJun 15 2012

Third Rock Ventures, LLC today announced the formation of Global Blood Therapeutics, Inc. and its $40.7 million Series A financing of the company. The company's unique SHAPE Platform is enabling the discovery and development of oral, small molecule drugs that change the shapes of key blood proteins to modify their functions, enhance vital biological pathways and drive therapeutic benefits. Global Blood Therapeutics is building a pipeline of innovative medicines for severe, genetic blood diseases for which there are currently no effective cures and only extremely limited therapeutic options. Founders of the company include Charles Homcy, M.D., and Craig Muir of Third Rock Ventures, David Phillips, Ph.D., co-founder of COR Therapeutics and co-founder with Dr. Homcy of Portola Pharmaceuticals, and three leading scientific researchers at the University of California, San Francisco: Matthew Jacobson, Ph.D., professor, pharmaceutical chemistry, Andrej Sali, Ph.D., professor, bioengineering and therapeutic sciences, and Jack Taunton, Ph.D., associate professor, cellular and molecular pharmacology.    

"Blood is one of the largest and most accessible organs and is a rich source of biologically and clinically validated targets," said Mark A. Goldsmith, M.D., Ph.D., chief executive officer of Global Blood Therapeutics and venture partner at Third Rock Ventures, LLC. "Global Blood Therapeutics aims to provide game-changing treatments for serious, genetic blood diseases that are well-understood but poorly served today, by developing innovative medicines directed against clinically validated targets. Through our SHAPE Platform and our world-class team with a strong track record in science and drug discovery and development, we are positioned to develop rapidly a new generation of safe and effective oral drugs that could truly change the treatment paradigm on behalf of patients."

Global Blood Therapeutics' lead program focuses on Sickle Cell Disease (SCD), one of the earliest rare genetic diseases to be defined on a molecular basis. It is caused by a single mutation that alters the oxygen-transport protein hemoglobin and results in the "sickling" - or change to a crescent shape - of red blood cells. With 100,000 patients in the United States and more than 15 million worldwide, SCD is a global health challenge with very limited treatment options and no therapies that address the underlying cause of the disease.

To address such worldwide need, Global Blood Therapeutics is focused on the discovery and development of a pipeline of new therapies that change the shapes of key blood proteins to treat chronic blood-based diseases and genetic disorders. Specifically, the SHAPE Platform brings together the most advanced computational biology and protein-ligand modeling with medicinal chemistry and empiric screening capabilities focused on allosteric modulation, while leveraging the Global Blood Therapeutics team's leading expertise in blood biology and track record of success in drug discovery and development. This approach will enable Global Blood Therapeutics in the development of orally available compounds that are potent, have a rapid onset of action and ultimately should translate into high therapeutic efficacy and decreased toxicity.

"Our vision at Third Rock Ventures is to improve patients' lives decisively through innovation, and the unique approach and stellar team at Global Blood Therapeutics are positioned to revolutionize how some of the most severe, blood-based genetic diseases are treated," said Charles Homcy, M.D., venture partner at Third Rock Ventures. "The launch of Global Blood Therapeutics, the first company fully conceived of and formed out of our West Coast office, underscores Third Rock's commitment to our goal and marks the ongoing success of our bi-coastal model and innovative, hands-on company ideation process. Global Blood expands our strong and growing portfolio of exciting companies on both coasts."