{"id":485284,"date":"2024-01-13T10:17:52","date_gmt":"2024-01-13T15:17:52","guid":{"rendered":"https:\/\/platohealth.ai\/for-profit-biomedical-institute-backed-by-billionaires-launches-in-cambridge-to-speed-drug-discovery\/"},"modified":"2024-01-13T17:46:48","modified_gmt":"2024-01-13T22:46:48","slug":"for-profit-biomedical-institute-backed-by-billionaires-launches-in-cambridge-to-speed-drug-discovery","status":"publish","type":"post","link":"https:\/\/platohealth.ai\/for-profit-biomedical-institute-backed-by-billionaires-launches-in-cambridge-to-speed-drug-discovery\/","title":{"rendered":"For-profit biomedical institute, backed by billionaires, launches in Cambridge to speed drug discovery","gt_translate_keys":[{"key":"rendered","format":"text"}]},"content":{"rendered":"
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A<\/span><\/span> team of high-powered scientists and billionaire investors said Friday that they\u2019re launching a biomedical institute in Cambridge\u2019s Kendall Square with $500 million in private funding with the aim of shortening the path from research breakthroughs to life-saving medicines.<\/p>\n

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.<\/p>\n

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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.<\/p>\n

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