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.
advertisement
Backed by deep-pocketed investors including Steve Pagliuca, the former co-chair of Bain Capital and Celtics co-owner, and high-tech mogul Michael Dell, Arena has already lured top scientists from academic labs with lucrative compensation packages, but so far has publicly named only a few.
Get unlimited access to award-winning journalism and exclusive events.
Subscribe Log In
Previous article：
For Medicare Advantage, Democrats want stronger protections around AI
Next article： Cancer drug shortages should be causing more outrage
Next article： Cancer drug shortages should be causing more outrage
