Third Rock closes fourth fund at $616M

Third Rock Ventures closed its Fund IV at $616 million, exceeding its $600 million target. The firm intends to launch or invest in 10-12 early stage companies focused on oncology, immunology, neurology, cardiovascular disease and rare genetic diseases, targeting $40-$50 million per investment.

Third Rock also announced several new appointments on Monday. The firm named Abbie Celniker partner. She was president and CEO of Third Rock portfolio company Eleven Biotherapeutics Inc. (NASDAQ:EBIO). ...