Summary:
T.Rx Capital, co-founded by Michael Langer (son of biotech legend Bob Langer), raised $77.5 million for its first fund.
Focuses on investments in techbio startups, next-generation modalities like cell therapies, and AI-driven drug discovery.
Leverages a network of over 1,000 MIT alumni from Bob Langer's lab for unique deal flow in early-stage companies.
Led by experienced founders including former Pear Therapeutics CEO Corey McCann and Eli Lilly veteran Kwesi Frimpong-Boateng.
Targets early-stage investments of $5M-$10M per startup, with active roles in governance and scaling.
A New Venture Fund Emerges in Biotech
A new venture fund, T.Rx Capital, co-founded by Michael Langer—son of renowned biotechnology entrepreneur Bob Langer—has successfully closed its first fund, raising $77.5 million. This announcement marks a significant entry into the biotech investment landscape, focusing on the intersection of technology and biology.
Investment Focus and Strategy
T.Rx Capital aims to invest in 10 to 15 companies operating in areas such as biotechs, techbio startups, and tech-enabled services. Within drug development, the firm is particularly interested in next-generation modalities like cell and gene therapies, radiopharmaceuticals, and novel biologics. Additionally, they are exploring opportunities in AI-driven drug discovery and digital tools that accelerate development processes.
Unique Advantages and Network
The team leverages a robust network of over 1,000 alumni from Bob Langer's lab at the Massachusetts Institute of Technology (MIT), providing access to a unique deal flow for early-stage companies. Bob Langer, who is the executive chairman of T.Rx, has a prolific track record, including co-founding Moderna in 2010 and numerous other biotech ventures. Michael Langer emphasized that the firm combines deep operator experience with access to one of the world's most vibrant innovation ecosystems.
Leadership and Backing
T.Rx is led by a trio of experienced founders: Corey McCann, former CEO of Pear Therapeutics; Kwesi Frimpong-Boateng, a former business development director at Eli Lilly; and Michael Langer, who has a background in licensing and venture capital. The fundraise was supported by family offices and limited partners, including founders from prominent biotech investment firms like Polaris Partners, Third Rock Ventures, and Arch Venture Partners.
Advisory Board and Future Plans
The scientific advisory board includes notable figures such as Mark Levin (founder of Third Rock), Freda Lewis-Hall (former Pfizer Chief Medical Officer), and Al Sandrock (CEO of Voyager Therapeutics). T.Rx plans to make early-stage investments, focusing on company formation through Series B rounds, with investments ranging from $5 million to $10 million per startup. The firm intends to take active roles in creation, scale, and governance, positioning itself as a hands-on investor in the evolving biotech market.
With exit markets recovering, T.Rx Capital sees an exceptional opportunity to support transformative companies in the biotech space, blending technology and medicine to drive innovation forward.
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