4:01 AM
 | 
Mar 28, 2018
 |  BioCentury  |  Finance

Versant’s independent streak

Why Versant is putting Tempest on the path to independence with a $70M series B

With a $70 million series B round, Tempest Therapeutics Inc. marks the first disclosed newco out of Versant Ventures’ Inception Sciences Inc. incubator to stray from the VC’s build-to-buy model.

Versant, F-Prime Capital and Quan Capital led the round, joined by Lilly Asia Ventures, Foresite Capital and Eight Roads Ventures.

Versant’s Brad Bolzon said Inception launched in 2011 with the intent to establish a mix of build-to-buy and independent companies.

According to Bolzon, Inception houses six active newcos, including four with structured acquisitions by pharma partners and two -- including...

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