STAT+: For-profit biomedical institute, backed by billionaires, launches in Cambridge to speed drug discovery
STAT
JANUARY 13, 2024
A team of high-powered scientists and billionaire investors said Friday that they’re launching a biomedical institute in Cambridge’s Kendall Square with $500 million in private funding with the aim of shortening the path from research breakthroughs to life-saving medicines. The institute, called Arena BioWorks, will put drug discovery and company creation under one roof, upending the traditional model where academic research and venture-backed drug development are separate.
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