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Life sciences-focused venture capital firm Atlas Venture and Cambridge’s Shire Human Genetic Therapies are partnering in an effort to find new investment areas in early stage rare disease therapeutics.
The two companies did not disclose the terms of their partnership agreement in the news released this morning, but Atlas and Shire are expected to work closely in creating and funding new startups. Shire noted its expertise in rare disease drug development from discovery to market, while Atlas brings a network built around company development and funding support.
In April, Atlas Venture formed another big company partnership when it teamed with St. Louis, Mo.-based biotech giant Monsanto Co., which focuses on agricultural products. That alliance, a multi-year agreement, aims to target agriculturally related areas, including genomics, biology and informatics.
Shire HGT won recent FDA approval in August for Firazyr, a drug to treat a rare condition called hereditary angioedema. The company acquired the drug in 2008 when it purchased German biotech firm Jerini AG for approximately $520 million.
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