Third Rock Ventures Expands and Strengthens Team

  Third Rock Ventures Expands and Strengthens Team

Business Wire

BOSTON & SAN FRANCISCO -- May 14, 2013

Third Rock Ventures, LLC, a venture capital firm focused on building
healthcare companies, today announced that it has expanded and strengthened
its team with several appointments and role changes. These additions allow
Third Rock to continue to support the launch of new companies focused on
disruptive areas of science and medicine, the maturation and development of
its current portfolio companies, and the overall strategy and direction of the

To aid in the development of new companies, Third Rock appointed James
Geraghty, a 20-year veteran of Genzyme Corporation, to the role of
entrepreneur-in-residence, and Steven Paul, M.D., the former president of the
Lilly Research Laboratories of Eli Lilly and Company and director of the Helen
& Robert Appel Institute for Alzheimer’s Research at Weill Cornell Medical
College, is increasing his capacity as a venture partner. Daniel Lynch, former
CEO of ImClone Systems, who joined Third Rock in 2011 as an
entrepreneur-in-residence, has been named venture partner to support the
commercial and business development of existing portfolio companies. John
Maraganore, Ph.D., chief executive officer of Alnylam, has joined the firm as
a venture partner, where he will participate in a limited capacity focusing on
guiding strategy for Third Rock and its portfolio companies.

“With the recent close of Fund III, we are excited to welcome these proven
industry stars to our team,” said Robert Tepper, M.D., partner at Third Rock
Ventures. “These leaders have demonstrated – through decades of experience –
their ability to integrate science and business. The depth of their expertise
across commercial, business development, R&D, drug discovery and product
development will be invaluable to Third Rock as we focus on translating
scientific innovation into exceptional companies that make a difference for

New Additions to the Team

Having helped Genzyme launch rare disease therapies around the world, Mr.
Geraghty will assist the firm in creating companies focused on rare genetic
diseases and support existing portfolio companies in related spaces. Prior to
joining Third Rock, Mr. Geraghty served as senior vice president, North
America strategy and business development, at Sanofi. Before Sanofi, Mr.
Geraghty spent 20 years at Genzyme Corporation, most recently as senior vice
president and an officer. While at Genzyme, his roles include president of
Genzyme Europe and general manager of Genzyme’s cardiovascular business.

“During the last 20 years, I have had the opportunity to participate in the
development and commercialization of important new medicines that transformed
patient care,” said Mr. Geraghty. “Third Rock’s hands-on approach to
launching, building and supporting exceptional companies is uniquely aligned
with my desire to contribute to shaping the next generation of great

Prior to joining Alnylam in 2002, Dr. Maraganore served as an officer and a
member of the management team at Millennium Pharmaceuticals, Inc. As senior
vice president, strategic product development for Millennium, Dr. Maraganore
was responsible for the company's product franchises in oncology,
cardiovascular, inflammation and metabolic diseases.

Role Changes within the Team

As venture partner, Mr. Lynch will focus on guiding the strategic vision and
business development efforts for Third Rock and its portfolio companies. Mr.
Lynch has more than 25 years of experience serving in management positions in
the biotechnology and pharmaceutical industries. He currently serves as
executive chairman of Blueprint Medicines and is on the board of directors for
bluebird bio and Ember Therapeutics. Mr. Lynch spent nearly five years at
ImClone Systems, serving as chief executive officer and chief financial
officer. As CEO, he led ImClone through a significant turnaround, helping to
restore the company's reputation and to secure FDA approval of ERBITUX®
(Cetuximab), a novel cancer treatment.

With Dr. Paul’s increased time commitment, he will play a more significant
role in the ideation and development of new companies, serving in key
management roles as appropriate. Prior to his appointment at Weill Cornell,
Dr. Paul spent 17 years at Eli Lilly, during which time he held several key
leadership roles, including vice president of neuroscience (CNS) research and
group vice president of discovery research (all therapeutic areas). In his
most recent role, he was responsible for the company's overall research and
development efforts - helping to expand Lilly's R&D efforts in oncology and
biotechnology - resulting in a pipeline of approximately 70 new molecular

“The ongoing commitment from Dan and Steve and their intention to spend more
time collaborating with Third Rock are testaments to the team we have
assembled,” said Kevin Starr, partner at Third Rock. “We recognize that people
are our most valued asset, and we rely on the experience, passion and
dedication of our team to build these innovative healthcare companies.”

“Having worked with Third Rock since 2010, I respect and appreciate the firm’s
approach to creating companies around disruptive areas of science and
medicine,” said Dr. Paul. “With this additional time commitment, I look
forward to not just launching companies, but to helping our portfolio
companies grow, advance pipelines to the clinic and launch meaningful new
products for patients.”

About Third Rock Ventures

Third Rock Ventures is a leading healthcare venture firm focused on investing
and launching companies that make a difference in people’s lives. The Third
Rock team has a unique vision for ideating and building transformative
healthcare companies. Working closely with our strategic partners and
entrepreneurs, Third Rock has an extensive track record for managing the value
creation path to deliver exceptional performance. For more information, please
visit the firm’s website at

Current Third Rock Portfolio Companies

Ablexis, Afferent Pharmaceuticals, Agios Pharmaceuticals, Alcresta, Allena
Pharmaceuticals, Alnara Pharmaceuticals (acquired by Eli Lilly & Co. in 2010),
bluebird bio, Blueprint Medicines, Cibiem, Constellation Pharmaceuticals,
CytomX Therapeutics, DC Devices, Edimer Pharmaceuticals, Eleven
Biotherapeutics, Ember Therapeutics, Foundation Medicine, Global Blood
Therapeutics, Igenica, Jounce Therapeutics, Kala Pharmaceuticals, Lotus Tissue
Repair (acquired by Shire plc in 2013), MyoKardia, NinePoint Medical,
PanOptica Pharmaceuticals, Rhythm Pharmaceuticals, SAGE Therapeutics, Seventh
Sense Biosystems, Taris Biomedical, Topica Pharmaceuticals, Warp Drive Bio and


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Kristie Wallis, 336-774-8666
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