Black Di­a­mond spins out an­ti­body work in­to new biotech with $30M from Ver­sant, NEA

Black Di­a­mond Ther­a­peu­tics con­tin­ues to nar­row its fo­cus.

Mon­day morn­ing, the can­cer com­pa­ny an­nounced that it was spin­ning out its an­ti­body work in­to a new biotech called Launch­pad Ther­a­peu­tics. Launch­pad will start out with $30 mil­lion from Ver­sant Ven­tures and ven­ture cap­i­tal firm NEA, and will house Black Di­a­mond’s dis­cov­ery-stage an­ti­body work. It’s al­so get­ting a li­cense to use Black Di­a­mond’s drug dis­cov­ery plat­form.

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